Registration number:
Mardyke Holdings Ltd
for the Year Ended 30 April 2024
Mardyke Holdings Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Mardyke Holdings Ltd
Company Information
Directors |
Dr N P Power Dr S Ryan |
Registered office |
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Accountants |
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Mardyke Holdings Ltd
(Registration number: 10021292)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investment property |
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- |
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Other financial assets |
532,893 |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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- |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Mardyke Holdings Ltd
(Registration number: 10021292)
Balance Sheet as at 30 April 2024
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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 directors have not delivered to hte registrar a copy of the Profit and Loss Account.
Approved and authorised by the
.........................................
Director
Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006
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.
The financial statements are presented in Pound Sterling, which is the functional currency of the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
The company recognises revenue when:
i. The amount of revenue can be reliably measured;
ii. it is probable that future economic benefits will flow to the entity;
iii. and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% Straight Line Method |
Plant and machinery |
25% Straight Line Method |
Investment property
Investment properties whose fair value cannot be measured reliably on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.
Goodwill
Positive purchased goodwill arising on acquisitions is capitalised as an asset on the balance sheet and amortised over its estimated useful economic life. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Over 10 years |
Investments
Investments are recognised initially at fair value which is normally the transaction price. Subsequently, they are measured at fair value through profit or loss except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably which are recognised at cost less impairement until a reliable measure of fair value becomes available.
If a reliable measure of fair is no longer available, the equity instrument's fair value on the last date the instrument was reliably measured is treated as the cost of the instrument.
Interest income in debt securities, where applicable, is recognised in income when receivable. Dividends on equity securities are recognised in income when receivable.
Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Amortisation |
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At 1 May 2023 |
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Amortisation charge |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Furniture, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 May 2023 |
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- |
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Additions |
- |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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- |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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- |
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Investment properties |
2024 |
2023 |
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Additions |
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- |
At 30 April |
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- |
The investment property was revalued on 30 April 2024 at fair value by the directors of the company who are not professionally qualified valuers. In the opinion of the directors, the fair value of the investment property is £759,707 as at 30 April 2024.
There has been no valuation of the investment property by an independent valuer.
The historic cost of the investment property is £759,707 (2023 - £Nil). The depreciation on this historic cost is £Nil (2023 - £Nil).
Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Non-current financial assets |
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Cost or valuation |
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Additions |
760,465 |
760,465 |
Fair value adjustments |
21,661 |
21,661 |
Disposals |
(249,233) |
(249,233) |
At 30 April 2024 |
532,893 |
532,893 |
Carrying amount |
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At 30 April 2024 |
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532,893 |
The historic cost of the investments is £511,232 (2023 - £Nil)
Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by related parties |
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- |
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Other debtors |
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Prepayments |
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- |
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Accrued income |
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- |
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296,872 |
150,000 |
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Details of Other Debtors
Other debtors include a loan of £150,000 (2023: £150,000) provided by the company in April 2022. The loan carries an interest charge of 12% per annum, however no interest has been accrued for as the ultimate borrower has gone into administration.
Mardyke Holdings Ltd
Notes to the Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Corporation tax |
216,994 |
123,582 |
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Directors current accounts |
- |
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Other creditors |
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Accruals and deferred income |
900 |
- |
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Related party transactions |
Other transactions with directors
Dr N Power and Dr S Ryan
(Directors and Shareholders)
Dividends paid to the directors during the year was £2,000 (2023 - £4,000).
At the balance sheet date the total amount owed to/( from) Dr N Power and Dr S Ryan was (£99,605) (2023 £8,728).
The amount due from the directors are repayable on demand. Interest at the HMRC official rate of interest is charged on the running balance due from the directors.