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REGISTERED NUMBER: 06302493 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Mark Rice Estate Agents Limited

Mark Rice Estate Agents Limited (Registered number: 06302493)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

Mark Rice Estate Agents Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: M W Rice
Mrs P A Rice





SECRETARY: Mrs P A Rice





REGISTERED OFFICE: 19 Northgate
Sleaford
Lincolnshire
NG34 7BH





REGISTERED NUMBER: 06302493 (England and Wales)





ACCOUNTANTS: Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY

Mark Rice Estate Agents Limited (Registered number: 06302493)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 18,750 25,000
Tangible assets 5 4,699 5,317
23,449 30,317

CURRENT ASSETS
Debtors 6 10,855 12,791
Cash at bank and in hand 63,600 117,560
74,455 130,351
CREDITORS
Amounts falling due within one year 7 24,413 29,451
NET CURRENT ASSETS 50,042 100,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,491

131,217

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 73,489 131,215
73,491 131,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2025 and were signed on its behalf by:





M W Rice - Director


Mark Rice Estate Agents Limited (Registered number: 06302493)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Mark Rice Estate Agents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

Mark Rice Estate Agents Limited (Registered number: 06302493)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 125,000
AMORTISATION
At 1 August 2023 100,000
Charge for year 6,250
At 31 July 2024 106,250
NET BOOK VALUE
At 31 July 2024 18,750
At 31 July 2023 25,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 3,903 25,380 29,283
Additions - 948 948
At 31 July 2024 3,903 26,328 30,231
DEPRECIATION
At 1 August 2023 3,903 20,063 23,966
Charge for year - 1,566 1,566
At 31 July 2024 3,903 21,629 25,532
NET BOOK VALUE
At 31 July 2024 - 4,699 4,699
At 31 July 2023 - 5,317 5,317

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 4,405 4,209
Other debtors 6,450 8,582
10,855 12,791

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 6,086 5,143
Taxation and social security 18,327 24,308
24,413 29,451

Mark Rice Estate Agents Limited (Registered number: 06302493)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. OTHER FINANCIAL COMMITMENTS

At 31 July 2024, the company had outstanding commitments under operations leases of £14,332 (2023 : £28,047).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
M W Rice and Mrs P A Rice
Balance outstanding at start of year 4,227 4,227
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,227 4,227

Mark Rice Estate Agents Limited

Report of the Accountants to the Directors of
Mark Rice Estate Agents Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2024 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY


12 April 2025