2023-04-012024-03-312024-03-31false00472671MARLYNS (EDGBASTON) 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MARLYNS (EDGBASTON) LIMITED

Registered Number
00472671
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MARLYNS (EDGBASTON) LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

SHINGLER, Antonia Louise
SHINGLER, Danielle Therese
SHINGLER, John James
SHINGLER, John Esmonde
SHINGLER, Julia Elizabeth
SHINGLER, Natalie Vivienne
SHINGLER, Vivian

Company Secretary

SHINGLER, John Esmonde

Registered Address

First Floor 2 Hampton Court Road
Harborne
Birmingham
B17 9AE

Registered Number

00472671 (England and Wales)
MARLYNS (EDGBASTON) LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments5291,807289,829
Investment property44,314,0004,314,000
4,605,8074,603,829
Current assets
Debtors3947,123
Cash at bank and on hand348,076408,061
348,470415,184
Creditors amounts falling due within one year6(201,295)(281,485)
Net current assets (liabilities)147,175133,699
Total assets less current liabilities4,752,9824,737,528
Net assets4,752,9824,737,528
Capital and reserves
Called up share capital900900
Profit and loss account4,752,0824,736,628
Shareholders' funds4,752,9824,737,528
The financial statements were approved and authorised for issue by the Board of Directors on 2 January 2025, and are signed on its behalf by:
SHINGLER, John Esmonde
Director
Registered Company No. 00472671
MARLYNS (EDGBASTON) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover represents rents receivable and proceeds from the sale of properties. Revenue from the sale of property is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably. it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rental income is recognised on a receivables basis.
Interest income
Interest income is recognised using the effective interest rate method.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 "Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.Staff Costs
Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
3.Average number of employees

20242023
Average number of employees during the year77
4.Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property comprises £4,314,000. The fair value of the investment property has been arrived at on the basis of valuations dated 1 December 2022 by Dan O'Malley B.Sc. Hons MRICS FNAEA FNAVA Registered Valuer, who is not connected with the company. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

£
Fair value at 01 April 234,314,000
At 31 March 244,314,000
5.Fixed asset investments
Fixed asset investments revalued. The listed investments have been measured and included at market value. Unit Trust investments listed on a recognised stock exchange totalling £291,807 (2023 - £289,829) are valued by reference to the valuation statement received from the investment provider on or around the balance sheet date. The historical cost of the investments is £139,872 (2022 - £169,642).

Other investments1

Total

££
Cost or valuation
At 01 April 23289,829289,829
Additions3,0243,024
Disposals(1,046)(1,046)
At 31 March 24291,807291,807
Net book value
At 31 March 24291,807291,807
At 31 March 23289,829289,829

Notes

1Other investments other than loans
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-162
Taxation and social security3,625206,309
Other creditors191,87463,948
Accrued liabilities and deferred income5,79611,066
Total201,295281,485
7.Financial instruments
Derivatives Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in the profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship. A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with a negative fair value is recognised as a financial liability. Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in the profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.