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REGISTERED NUMBER: 10288742 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31st July 2024

for

Marnell Properties Limited

Marnell Properties Limited (Registered number: 10288742)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Marnell Properties Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: T D McPartlan
Mrs I M Mcpartlan





SECRETARY:





REGISTERED OFFICE: AMM
4 Longlands
West End Gardens
Fairford
GL7 4LG





REGISTERED NUMBER: 10288742 (England and Wales)





ACCOUNTANTS: AMM Bookkeeping & Accountancy
4 Longlands
West End Gardens
Fairford
Gloucestershire
GL7 4LG

Marnell Properties Limited (Registered number: 10288742)

Statement of Financial Position
31st July 2024

31.7.24 31.7.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,476 2,214
Investment property 5 320,000 314,000
321,476 316,214

CURRENT ASSETS
Debtors 6 173 160
Cash at bank 1,840 65
2,013 225
CREDITORS
Amounts falling due within one year 7 (221,055 ) (226,728 )
NET CURRENT LIABILITIES (219,042 ) (226,503 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,434

89,711

PROVISIONS FOR LIABILITIES (16,196 ) (15,056 )
NET ASSETS 86,238 74,655

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 48,173 43,313
Retained earnings 37,965 31,242
SHAREHOLDERS' FUNDS 86,238 74,655

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Marnell Properties Limited (Registered number: 10288742)

Statement of Financial Position - continued
31st July 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th April 2025 and were signed on its behalf by:





T D McPartlan - Director


Marnell Properties Limited (Registered number: 10288742)

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

1. STATUTORY INFORMATION

Marnell Properties 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.

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 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 as modified by the revaluation of certain assets.

Revenue
Revenue - described as turnover - is the value of domestic rentals based on the occupation of investment property which is owned by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Investment property
The investment property is shown at its fair value as estimated by the directors. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided against these movements.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed at the statement of financial position 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 average number of employees during the year was 1 (2023 - 1 ) .

Marnell Properties Limited (Registered number: 10288742)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2023
and 31st July 2024 3,690
DEPRECIATION
At 1st August 2023 1,476
Charge for year 738
At 31st July 2024 2,214
NET BOOK VALUE
At 31st July 2024 1,476
At 31st July 2023 2,214

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st August 2023 314,000
Revaluations 6,000
At 31st July 2024 320,000
NET BOOK VALUE
At 31st July 2024 320,000
At 31st July 2023 314,000

Fair value at 31st July 2024 is represented by:
£   
Valuation in 2021 256,249
Valuation in 2022 57,751
Valuation in 2024 6,000
320,000

If Investment property had not been revalued it would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 256,249 256,249

Investment property was valued on an open market basis on 31st July 2024 by the directors. .

Marnell Properties Limited (Registered number: 10288742)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 173 160

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 564 -
Taxation and social security 1,750 1,652
Other creditors 218,741 225,076
221,055 226,728

8. RESERVES
Fair
value
reserve
£   
At 1st August 2023 43,313
Transfer to Fair Value reserve 4,860

At 31st July 2024 48,173