IRIS Accounts Production v24.3.2.46 12172890 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh121728902023-04-30121728902024-04-30121728902023-05-012024-04-30121728902022-04-30121728902022-05-012023-04-30121728902023-04-3012172890ns15:EnglandWales2023-05-012024-04-3012172890ns14:PoundSterling2023-05-012024-04-3012172890ns10:Director12023-05-012024-04-3012172890ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3012172890ns10:SmallEntities2023-05-012024-04-3012172890ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3012172890ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3012172890ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3012172890ns10:FullAccounts2023-05-012024-04-3012172890ns10:Director22023-05-012024-04-3012172890ns10:RegisteredOffice2023-05-012024-04-3012172890ns5:CurrentFinancialInstruments2024-04-3012172890ns5:CurrentFinancialInstruments2023-04-3012172890ns5:ShareCapital2024-04-3012172890ns5:ShareCapital2023-04-3012172890ns5:RetainedEarningsAccumulatedLosses2024-04-3012172890ns5:RetainedEarningsAccumulatedLosses2023-04-3012172890ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3012172890ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30
REGISTERED NUMBER: 12172890 (England and Wales)









MARKAN PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






MARKAN PROPERTIES LIMITED (REGISTERED NUMBER: 12172890)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARKAN PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: M L Reed
K V Creary-Reed





REGISTERED OFFICE: Charlton Manor
Charlton Road
Creech St Michael
TAUNTON
Somerset
TA3 5PF





REGISTERED NUMBER: 12172890 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

MARKAN PROPERTIES LIMITED (REGISTERED NUMBER: 12172890)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 879,801 879,801

CURRENT ASSETS
Debtors 6 215,962 100,793
Cash at bank 24,094 78,228
240,056 179,021
CREDITORS
Amounts falling due within one year 7 991,850 987,370
NET CURRENT LIABILITIES (751,794 ) (808,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 128,007 71,452

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 127,907 71,352
128,007 71,452

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





M L Reed - Director


MARKAN PROPERTIES LIMITED (REGISTERED NUMBER: 12172890)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Markan Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of properties.

Turnover is deferred where it relates to a future period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is reviewed annually for any impairment or uplift required.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

MARKAN PROPERTIES LIMITED (REGISTERED NUMBER: 12172890)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 879,801
NET BOOK VALUE
At 30 April 2024 879,801
At 30 April 2023 879,801

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 460 793
Other debtors 215,502 100,000
215,962 100,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 18,900 14,774
Other creditors 972,950 972,596
991,850 987,370

8. RELATED PARTY DISCLOSURE

There are amounts owed from a related party, being a company under common control, which has no set terms of repayment and on which no interest is charged. The total amount owed is £215,000 (2023 - £110,000), and this is included in other debtors.

There are amounts owed to related parties, being companies under common control, which have no set terms of repayment and on which no interest is charged. The total amount owed is £48,936 (2023 - £48,379), and this is included in other creditors.

A director has also loaned money to the company with no formal conditions attached. At the year end the director is owed £916,799 (2023 - £916,799). This is also disclosed within other creditors.