REGISTERED NUMBER: |
METALMARK INVESTMENTS LIMITED |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
METALMARK INVESTMENTS LIMITED |
Unaudited Financial Statements for the Year Ended 31 July 2024 |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
METALMARK INVESTMENTS LIMITED |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
59-61 Charlotte Street |
St Pauls Square |
Birmingham |
West Midlands |
B3 1PX |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Metalmark Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
Certain of the amounts included in the financial statements involve the use of judgement and/or estimation. These judgements and estimates are based on managements best knowledge of the relevant facts and circumstances, having regards to prior experience, but actual results may differ from the amounts included in the financial statements. Information about such judgements and estimation is contained in these accounting policies and/or the notes to the financial statements and the key area's are summarised below: |
Valuation of investment property |
The investment property has been valued on an open market basis by the director, W P Leung. |
Depreciation |
Depreciation rates are based on estimates of the useful lives and residual values of the assets involved. |
Accruals |
These are assessed at the year end and are based on known items or best estimates of costs relating to the period but not yet incurred, and based on supporting information. |
Rental income |
Rental income from investment property leased out is recognised in the accounts on a straight-line basis over the term of the lease. |
Service charges |
In the case of service contracts with third parties, service charges are recovered from tenants. Service charges in respect of vacant properties are expensed. These mainly relate to gas, electricity, water and cleaning. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST OR VALUATION |
At 1 August 2023 |
and 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Cost or valuation at 31 July 2024 is represented by: |
Plant and |
machinery |
etc |
£ |
Cost | 24,372 |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
and 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 1997 | 81,976 |
Valuation in 2017 | 521,428 |
Cost | 396,596 |
1,000,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 396,596 | 396,596 |
Investment property was valued on an open market basis on 9 February 2022 by the director, W P Leung . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 August 2023 |
and 31 July 2024 |
METALMARK INVESTMENTS LIMITED (REGISTERED NUMBER: 01464286) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
9. | ULTIMATE CONTROLLING PARTY |
During the current and previous year the ultimate controlling party was Sharestart Enterprise Limited due to its 100% shareholding in the company. |