Company registration number SC132395 (Scotland)
Marlene Ross Management Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with registrar
Marlene Ross Management Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Marlene Ross Management Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marlene Ross Management Limited for the year ended 30 June 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of Marlene Ross Management Limited, as a body, in accordance with the terms of our engagement letter dated 16 April 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Marlene Ross Management Limited and state those matters that we have agreed to state to the board of directors of Marlene Ross Management Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marlene Ross Management Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Marlene Ross Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marlene Ross Management Limited. You consider that Marlene Ross Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Marlene Ross Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
24 March 2025
Marlene Ross Management Limited
Statement of financial position
as at 30 June 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
110
140
Investment property
3
320,000
320,000
320,110
320,140
Current assets
Debtors
3,845
3,475
Cash at bank and in hand
11,664
17,772
15,509
21,247
Creditors: amounts falling due within one year
(5,802)
(3,735)
Net current assets
9,707
17,512
Total assets less current liabilities
329,817
337,652
Provisions for liabilities
(14,004)
(14,004)
Net assets
315,813
323,648
Capital and reserves
Called up share capital
100
100
Revaluation reserve
59,703
59,703
Profit and loss reserves
256,010
263,845
Total equity
315,813
323,648

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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 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.

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.

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

Marlene Ross Management Limited
Statement of financial position (continued)
as at 30 June 2024
3
The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Gordon Ross
David Ross
Director
Director
Company registration number SC132395 (Scotland)
Marlene Ross Management Limited
Notes to the financial statements
for the year ended 30 June 2024
4
1
Accounting policies
Company information

Marlene Ross Management Limited is a private company limited by shares incorporated in Scotland. The registered office is 1 Abbotsford Place, Aberdeen, AB11 7SG.

1.1
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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect new estimates.

1.3
Investment properties

Investment property, is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Marlene Ross Management Limited
Notes to the financial statements (continued)
for the year ended 30 June 2024
1
Accounting policies (continued)
5
1.4
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Marlene Ross Management Limited
Notes to the financial statements (continued)
for the year ended 30 June 2024
6
2
Tangible fixed assets
Total
£
Cost
At 1 July 2023
12,535
Disposals
(270)
At 30 June 2024
12,265
Depreciation and impairment
At 1 July 2023
12,395
Depreciation charged in the year
30
Eliminated in respect of disposals
(270)
At 30 June 2024
12,155
Carrying amount
At 30 June 2024
110
At 30 June 2023
140
3
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
320,000
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