Company Registration No. 12709488 (England and Wales)
Marygate (NO1) Developments Limited
Unaudited financial statements
For the year ended 28 February 2024
Pages for filing with registrar
MARYGATE (NO1) DEVELOPMENTS LIMITED
Marygate (NO1) Developments Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MARYGATE (NO1) DEVELOPMENTS LIMITED
Marygate (NO1) Developments Limited
BALANCE SHEET
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
3
623,258
501,636
Debtors
4
50,029
29,575
673,287
531,211
Creditors: amounts falling due within one year
5
(14,375)
(8,250)
Net current assets
658,912
522,961
Creditors: amounts falling due after more than one year
6
(682,915)
(539,329)
Net liabilities
(24,003)
(16,368)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(24,103)
(16,468)
Total equity
(24,003)
(16,368)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 November 2024 and are signed on its behalf by:
I Yardley
Director
Company registration number 12709488 (England and Wales)
MARYGATE (NO1) DEVELOPMENTS LIMITED
Marygate (NO1) Developments Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Marygate (NO1) Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors have confirmed that they will continue to make funds available in order to ensure that the company can meet its day to day liabilities as they fall due.
1.3
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to the present location and condition.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Stocks
2024
2023
£
£
Stocks
623,258
501,636
The total capitalised interest at 28 February 2024 was £2,236 (2023: £2,236).
MARYGATE (NO1) DEVELOPMENTS LIMITED
Marygate (NO1) Developments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
50,029
29,575
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,375
3,400
Other creditors
4,000
4,850
14,375
8,250
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
682,915
539,329
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100