REGISTERED NUMBER: |
DIRECTORS' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MARLBOROUGH PROPERTY (STAINES) LIMITED |
REGISTERED NUMBER: |
DIRECTORS' REPORT AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
MARLBOROUGH PROPERTY (STAINES) LIMITED |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Directors' Report | 2 |
Profit and Loss Account | 3 |
Balance Sheet | 4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
MARLBOROUGH PROPERTY (STAINES) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
DIRECTORS' REPORT |
FOR THE YEAR ENDED 30 JUNE 2024 |
The directors present their report with the financial statements of the company for the year ended 30 June 2024. |
PRINCIPAL ACTIVITY |
The company has been dormant throughout the current year. |
In prior periods the principal activity of the company was that of commercial property investment. |
DIVIDENDS |
The total distribution of dividends for the year ended 30 June 2024 is £nil (2023: £51,865). |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report. |
QUALIFYING THIRD PARTY INDEMNITY PROVISIONS |
The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date. |
ON BEHALF OF THE BOARD: |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
TURNOVER |
OPERATING PROFIT |
Interest receivable and similar income |
5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
BALANCE SHEET |
30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 JUNE 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 June 2023 |
Changes in equity |
Balance at 30 June 2024 |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Marlborough Property (Staines) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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”), the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime, and under the historical cost convention, modified to include certain financial instruments at fair value. The disclosure requirements of section 1A of FRS 102 have been applied. |
Going concern |
The financial statements have been prepared on a going concern basis. The Directors are of the opinion that the company will be in existence for at least a period of 12 months from the date of sign off and have confirmed there are no immediate plans to strike off the company. |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". |
- the requirement of Section 7 Statement of Cash Flows; |
- the requirement of Section 33 Related Party Disclosure; |
- the requirement of Section 33.7 Key management personnel compensation. |
Significant judgements and estimates |
The Directors are continually evaluating estimates and judgements based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom equal the related actual results. |
The Directors consider the valuation of investment properties to be the only critical accounting estimate to have a significant effect on the amounts recognised in the financial statements. |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Equity instruments |
Equity instruments issued by the group are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group. |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The Company does not have any legal employees (2022: none), other than the two directors (2022: 2). |
4. | DIRECTORS' EMOLUMENTS |
The Directors are remunerated by the ultimate parent Company, WA Capital Limited. |
5. | INTEREST RECEIVABLE AND SIMILAR INCOME |
30/6/24 | 30/6/23 |
£ | £ |
Bank interest received |
6. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the year ended 30 June 2023. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Amounts owed by group undertakings |
MARLBOROUGH PROPERTY (STAINES) LIMITED (REGISTERED NUMBER: 08550356) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | RELATED PARTY DISCLOSURES |
The immediate parent company is Marlborough Property Co Limited, a company incorporated in England and Wales with registered address of Two Marlborough Court, Watermead Business Park, Syston, Leicestershire, LE7 1AD. |
The ultimate parent undertaking is WA Capital Limited, a company incorporated in England and Wales with registered address of Two Marlborough Court, Watermead Business Park, Syston, Leicestershire, LE7 1AD.Transactions between the company and fellow wholly owned subsidiaries or with the parent undertaking are exempt from disclosure. |
The smallest group in which the results of the Company are consolidated is that headed by Marlborough Property Co Limited and the largest group is WA Capital Limited. The consolidated financial statements of Marlborough Property Co Limited and WA Capital Limited are available from its registered office, Two Marlborough Court, Watermead Business Park, Syston, Leicestershire, LE7 1AD. |