Company registration number 12654890 (England and Wales)
Marakaz 1 Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 June 2024
PAGES FOR FILING WITH REGISTRAR
Marakaz 1 Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Marakaz 1 Ltd
Statement of financial position
as at 30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
619,307
619,307
Current assets
Debtors
4
16,281
2,822
Cash at bank and in hand
4,749
27,444
21,030
30,266
Creditors: amounts falling due within one year
5
(616,781)
(639,499)
Net current liabilities
(595,751)
(609,233)
Net assets
23,556
10,074
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
23,456
9,974
Total equity
23,556
10,074
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 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 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 September 2024 and are signed on its behalf by:
M B Buckley
Director
Company registration number 12654890 (England and Wales)
Marakaz 1 Ltd
Notes to the financial statements
for the year ended 30 June 2024
- 2 -
1
Accounting policies
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. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts derived from the provision of rent and services falling within the company's activities after deduction of value added tax where applicable. Turnover is recognised on an accruals basis.
Investment property
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. Changes in fair value are recognised in profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
619,307
Marakaz 1 Ltd
Notes to the financial statements (continued)
for the year ended 30 June 2024
- 3 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
350
326
Other debtors
14,929
2,100
Prepayments and accrued income
1,002
396
16,281
2,822
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,444
1,808
Corporation tax
3,178
2,339
Other creditors
604,959
633,959
Accruals and deferred income
1,200
1,393
616,781
639,499
6
Company information
Marakaz 1 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Calderdale Business Park, Main Reception, Club Lane, Halifax, West Yorkshire, HX2 8DB.