REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
FOR |
MARHAR INVESTMENTS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
FOR |
MARHAR INVESTMENTS LIMITED |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MARHAR INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
St John's Wood |
London |
NW8 0DL |
BANKERS: |
440 Strand |
London |
WC2R 0QS |
SOLICITORS: |
20 Bonhill Street |
London |
EC2 4DN |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
BALANCE SHEET |
30 NOVEMBER 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 3 |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
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. |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
BALANCE SHEET - continued |
30 NOVEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
1. | ACCOUNTING POLICIES |
Company information |
Marhar Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 72/75 Marylebone High Street, London, W1U 5JW. |
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") 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. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
Turnover |
Turnover represents amounts receivable for rent net of VAT. |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. |
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets. |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Basic financial assets |
Basic financial assets, which include 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, 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. Financial liabilities classified as payable within one year are not amortised. |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
1. | ACCOUNTING POLICIES - continued |
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 profit and loss account 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 taxation is provided in full in respect of taxation deferred by timing differences between the treatment of |
certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. |
Impairment of fixed assets |
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Fixed asset investments |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
Investments in quoted shares, is initially recognised at cost and subsequently measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. |
Cash at bank and in hand |
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
3. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 December 2023 |
Revaluations | ( |
) |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Cost or valuation at 30 November 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 19,888 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2023 |
and 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
The valuation of the investment property was made as at 30 November 2024 by the directors of the company on an open market basis, based on a recent independent valuation. On an historical basis the property would have been included at an original cost of £833,984. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Other debtors |
MARHAR INVESTMENTS LIMITED (REGISTERED NUMBER: 06435272) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
The aggregate amount of creditors for which security has been given amounted to £430,000 (2023: £293,750). |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Bank loans |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | RELATED PARTY TRANSACTIONS |
Included within other debtors are amounts of £388,000 (2023: £45,000) owed by a related company. This relates to an interest free loan which is repayable on demand. Both companies are controlled by the same shareholders. |
Included within other creditors are amounts of £172,713 (2023: £nil) owed to a related company. This relates to an 5% interest loan which is repayable on demand. A director has a significant interest in that company. |