Company registration number 08526788 (England and Wales)
MARKETING RESIDENTIALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MARKETING RESIDENTIALS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MARKETING RESIDENTIALS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
620,000
575,000
Current assets
Debtors
5
-
0
37
Cash at bank and in hand
9,479
14,461
9,479
14,498
Creditors: amounts falling due within one year
6
(362,636)
(381,393)
Net current liabilities
(353,157)
(366,895)
Total assets less current liabilities
266,843
208,105
Provisions for liabilities
7
(32,500)
(16,150)
Net assets
234,343
191,955
Capital and reserves
Called up share capital
8
3
3
Profit and loss reserves
234,340
191,952
Total equity
234,343
191,955

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 30 June 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.

MARKETING RESIDENTIALS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 January 2025 and are signed on its behalf by:
Dr Polly Waite
Director
Company Registration No. 08526788
MARKETING RESIDENTIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Marketing Residentials Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Framfield Road, London, N5 1UU.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts rent receivable during the period net of VAT.

1.3
Investment properties

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. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has financial instruments which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

1.6
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MARKETING RESIDENTIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

 

2
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 amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 July 2023
575,000
Revaluations
45,000
At 30 June 2024
620,000

The year-end valuation of investment property was made by the directors, on an open market value for existing use basis. The last professional valuation was undertaken by Dexter Wood and Partners, Chartered Surveyors on 30 June 2011.

 

The historic cost of the property is £490,000.

MARKETING RESIDENTIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
-
0
37
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
27
-
0
Corporation tax
3,222
3,141
Other creditors
359,387
378,252
362,636
381,393
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Estimate of tax due on revalued properties
32,500
16,150
2024
Movements in the year:
£
Liability at 1 July 2023
16,150
Charge to profit or loss
16,350
Liability at 30 June 2024
32,500
8
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
3 Ordinary shares of £1 each
3
3
MARKETING RESIDENTIALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
9
Parent company

The company is controlled by Second Whitehall Properties LLP, by virtue of the fact that the LLP owns the entire issued share capital.

 

The ultimate controlling parties are the directors by virtue of the fact that they are also the partners of Second Whitehall Properties LLP.

 

There is no single controlling party.

2024-06-302023-07-01falsefalsefalse07 January 2024CCH SoftwareCCH Accounts Production 2024.310No description of principal activityDr Polly WaiteSophie McNeill085267882023-07-012024-06-30085267882024-06-30085267882023-06-3008526788core:CurrentFinancialInstruments2024-06-3008526788core:CurrentFinancialInstruments2023-06-3008526788core:ShareCapital2024-06-3008526788core:ShareCapital2023-06-3008526788core:RetainedEarningsAccumulatedLosses2024-06-3008526788core:RetainedEarningsAccumulatedLosses2023-06-3008526788bus:Director12023-07-012024-06-30085267882022-07-012023-06-30085267882023-06-3008526788bus:PrivateLimitedCompanyLtd2023-07-012024-06-3008526788bus:FRS1022023-07-012024-06-3008526788bus:AuditExemptWithAccountantsReport2023-07-012024-06-3008526788bus:Director22023-07-012024-06-3008526788bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008526788bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP