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Registered number: 12486495
Maranatha Property Limited
Unaudited Financial Statements
For The Year Ended 20 June 2024
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12486495
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 285,000 331,650
285,000 331,650
CURRENT ASSETS
Debtors 5 255 255
Cash at bank and in hand 2,076 1,710
2,331 1,965
Creditors: Amounts Falling Due Within One Year 6 (6,315 ) (5,206 )
NET CURRENT ASSETS (LIABILITIES) (3,984 ) (3,241 )
TOTAL ASSETS LESS CURRENT LIABILITIES 281,016 328,409
Creditors: Amounts Falling Due After More Than One Year 7 (192,874 ) (197,868 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (19,877 ) (31,540 )
NET ASSETS 68,265 99,001
CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 59,632 94,619
Profit and Loss Account 8,533 4,282
SHAREHOLDERS' FUNDS 68,265 99,001
Page 1
Page 2
For the year ending 20 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Joshua Thomson
Director
13th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maranatha Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12486495 . The registered office is 2 John Douglas Drive, Monkton, Ramsgate, KENT, CT12 4JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. it also requires management to exercise judgment in applying the Company's accounting policies.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable.
Rental income
Turnover from rental income in relation to the rent charged on investment properties is recognised in the period for which it relates to.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account with those values held in a separate non-distributable reserve. These reserves are ring-fenced from distribution.
Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. This is generally for accelerated capital allowances.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 21 June 2023 331,650
Revaluation (46,650 )
As at 20 June 2024 285,000
Net Book Value
As at 20 June 2024 285,000
As at 21 June 2023 331,650
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 255 255
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,200 3,088
Corporation tax 997 689
Directors' loan accounts 2,118 1,429
6,315 5,206
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 129,821 134,815
Other creditors 63,053 63,053
192,874 197,868
8. Secured Creditors
Of the creditors the following amounts are secured.
9. Deferred Taxation
The provision for deferred taxation is made up from fair value valuation surplus measurements.

Deferred taxation is recognised at each valuation period based on measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.



2024 2023
£ £
Other timing differences 19,877 31,540
Page 4
Page 5
10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 21 June 2023 31,540 31,540
Reversals (11,663 ) (11,663)
Balance at 20 June 2024 19,877 19,877
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
12. Reserves
Revaluation Reserve
£
As at 21 June 2023 94,619
Net investment property revaluation reserve (34,987 )
As at 20 June 2024 59,632
13. Controlling Party Not Known
The company's controlling party is unknown.
Page 5