1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 224,686 3,478 2,945 25,662 250,881 250,881 224,686 xbrli:pure xbrli:shares iso4217:GBP SC440376 2023-05-01 2024-04-30 SC440376 2024-04-30 SC440376 2023-04-30 SC440376 2022-05-01 2023-04-30 SC440376 2023-04-30 SC440376 2022-04-30 SC440376 core:FurnitureFittings 2023-05-01 2024-04-30 SC440376 core:MotorVehicles 2023-05-01 2024-04-30 SC440376 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC440376 bus:Director1 2023-05-01 2024-04-30 SC440376 core:FurnitureFittings 2023-04-30 SC440376 core:MotorVehicles 2023-04-30 SC440376 core:FurnitureFittings 2024-04-30 SC440376 core:WithinOneYear 2024-04-30 SC440376 core:WithinOneYear 2023-04-30 SC440376 core:ShareCapital 2024-04-30 SC440376 core:ShareCapital 2023-04-30 SC440376 core:RevaluationReserve 2024-04-30 SC440376 core:RevaluationReserve 2023-04-30 SC440376 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC440376 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC440376 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 SC440376 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-04-30 SC440376 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-04-30 SC440376 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-04-30 SC440376 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 SC440376 core:Non-currentFinancialInstruments 2024-04-30 SC440376 core:Non-currentFinancialInstruments 2023-04-30 SC440376 core:FurnitureFittings 2023-04-30 SC440376 core:MotorVehicles 2023-04-30 SC440376 bus:SmallEntities 2023-05-01 2024-04-30 SC440376 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC440376 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC440376 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC440376 bus:FullAccounts 2023-05-01 2024-04-30 SC440376 bus:OrdinaryShareClass1 2024-04-30 SC440376 bus:OrdinaryShareClass1 2023-04-30 SC440376 core:ComputerEquipment 2023-05-01 2024-04-30 SC440376 core:ComputerEquipment 2023-04-30 SC440376 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: SC440376
Mark Lang Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Mark Lang Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,060
13,180
Investments
6
250,881
224,686
---------
---------
253,941
237,866
Current assets
Debtors
7
12,285
Cash at bank and in hand
144,834
202,309
---------
---------
144,834
214,594
Creditors: amounts falling due within one year
8
12,631
38,626
---------
---------
Net current assets
132,203
175,968
---------
---------
Total assets less current liabilities
386,144
413,834
Provisions
14,939
11,717
---------
---------
Net assets
371,205
402,117
---------
---------
Capital and reserves
Called up share capital
9
100
100
Revaluation reserve
44,662
25,264
Profit and loss account
326,443
376,753
---------
---------
Shareholders funds
371,205
402,117
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr M Lang
Director
Company registration number: SC440376
Mark Lang Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 24 Kelvinside Gardens, North Kelvinside, Glasgow, G20 6BB, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebate, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied: - The amount of revenue can be measured reliably; - Is it probably the Company will receive the consideration due; - The costs incurred can be measured reliably
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
20% straight line
Equipment
-
33% straight line
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
9,165
14,758
4,296
28,219
Disposals
( 14,758)
( 14,758)
-------
--------
-------
--------
At 30 April 2024
9,165
4,296
13,461
-------
--------
-------
--------
Depreciation
At 1 May 2023
5,085
5,658
4,296
15,039
Charge for the year
1,020
1,020
Disposals
( 5,658)
( 5,658)
-------
--------
-------
--------
At 30 April 2024
6,105
4,296
10,401
-------
--------
-------
--------
Carrying amount
At 30 April 2024
3,060
3,060
-------
--------
-------
--------
At 30 April 2023
4,080
9,100
13,180
-------
--------
-------
--------
6. Investments
Other investments other than loans
£
Cost
At 1 May 2023
224,686
Additions
3,478
Disposals
( 2,945)
Revaluations
25,662
---------
At 30 April 2024
250,881
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
250,881
---------
At 30 April 2023
224,686
---------
7. Debtors
2024
2023
£
£
Trade debtors
11,935
Other debtors
350
----
--------
12,285
----
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,013
25,410
Social security and other taxes
572
Other creditors
7,618
12,644
--------
--------
12,631
38,626
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----