Marsay Property Limited 14828274 false 2023-04-26 2024-04-30 2024-04-30 The principal activity of the company is letting or operating of own or leased property Digita Accounts Production Advanced 6.30.9574.0 true true 14828274 2023-04-26 2024-04-30 14828274 2024-04-30 14828274 bus:Director1 1 2024-04-30 14828274 core:RetainedEarningsAccumulatedLosses 2024-04-30 14828274 core:ShareCapital 2024-04-30 14828274 core:CurrentFinancialInstruments 2024-04-30 14828274 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14828274 core:Non-currentFinancialInstruments 2024-04-30 14828274 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 14828274 bus:SmallEntities 2023-04-26 2024-04-30 14828274 bus:AuditExemptWithAccountantsReport 2023-04-26 2024-04-30 14828274 bus:FilletedAccounts 2023-04-26 2024-04-30 14828274 bus:SmallCompaniesRegimeForAccounts 2023-04-26 2024-04-30 14828274 bus:RegisteredOffice 2023-04-26 2024-04-30 14828274 bus:Director1 2023-04-26 2024-04-30 14828274 bus:Director1 1 2023-04-26 2024-04-30 14828274 bus:PrivateLimitedCompanyLtd 2023-04-26 2024-04-30 14828274 bus:Agent1 2023-04-26 2024-04-30 14828274 countries:England 2023-04-26 2024-04-30 14828274 bus:Director1 1 2023-04-25 iso4217:GBP xbrli:pure

Registration number: 14828274

Marsay Property Limited

Unaudited Filleted Financial Statements

for the Period from 26 April 2023 to 30 April 2024

 

Marsay Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Marsay Property Limited

Company Information

Director

Mr Joseph Andrew Marsay

Registered office

82a James Carter Road
Mildenhall
Suffolk
IP28 7DE

Accountants

Fullertons Limited
Chartered Certified AccountantsManchester House
50A Oxford Road
Guiseley
Leeds
LS20 8AB

 

Marsay Property Limited

(Registration number: 14828274)
Balance Sheet as at 30 April 2024

Note

2024
£

Fixed assets

 

Investment property

4

131,496

Current assets

 

Debtors

5

165

Cash at bank and in hand

 

798

 

963

Creditors: Amounts falling due within one year

6

(65,651)

Net current liabilities

 

(64,688)

Total assets less current liabilities

 

66,808

Creditors: Amounts falling due after more than one year

6

(83,738)

Net liabilities

 

(16,930)

Capital and reserves

 

Called up share capital

100

Retained earnings

(17,030)

Shareholders' deficit

 

(16,930)

For the financial period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 15 January 2025
 

.........................................
Mr Joseph Andrew Marsay
Director

 

Marsay Property Limited

Notes to the Unaudited Financial Statements for the Period from 26 April 2023 to 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
82a James Carter Road
Mildenhall
Suffolk
IP28 7DE

These financial statements were authorised for issue by the director on 15 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis which requires the continued support of the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents receivable and provision of services in the ordinary course of the company’s activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

 

Marsay Property Limited

Notes to the Unaudited Financial Statements for the Period from 26 April 2023 to 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investment properties

2024
£

Additions

131,496

At 30 April

131,496

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

Prepayments

165

 

165

 

Marsay Property Limited

Notes to the Unaudited Financial Statements for the Period from 26 April 2023 to 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

7

64,811

Accruals and deferred income

 

840

 

65,651

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

83,738

Creditors include bank loans and overdrafts which are secured of £83,738.

 

Marsay Property Limited

Notes to the Unaudited Financial Statements for the Period from 26 April 2023 to 30 April 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

83,738

Current loans and borrowings

2024
£

Other borrowings

64,811

8

Related party transactions

Transactions with the director

2024

At 26 April 2023
£

Other payments made to company by director
£

At 30 April 2024
£

Mr Joseph Andrew Marsay

Directors loan

-

64,811

64,811