Registered number
SC077091
Marbel Properties Limited
Filleted Accounts
31 December 2024
Marbel Properties Limited
Registered number: SC077091
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 90,000 80,000
Current assets
Debtors 5 750 750
Cash at bank and in hand 193,812 191,694
194,562 192,444
Creditors: amounts falling due within one year 6 (20,358) (20,222)
Net current assets 174,204 172,222
Total assets less current liabilities 264,204 252,222
Provisions for liabilities (2,000) -
Net assets 262,204 252,222
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 70,609 62,609
Profit and loss account 191,495 189,513
Shareholders' funds 262,204 252,222
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael D McGill
Director
Approved by the board on 28 March 2025
Marbel Properties Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investment property is shown at most recent valuation. Changes in fair value are included in the profit and loss account. The investment property was revalued in June 2024 by J&E Shepherd, Chartered Surveyors. The directors have decided to include the revaluations in these financial statements in order to give a true and fair view of the values of the properties at 31 December 2024.The revaluations were based on the market value as at June 2024 having taken into account the existing leases.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 14,646
At 31 December 2024 14,646
Depreciation
At 1 January 2024 14,646
At 31 December 2024 14,646
Net book value
At 31 December 2024 -
4 Investments
Other
investments
£
Cost
At 1 January 2024 80,000
Revaluation 10,000
At 31 December 2024 90,000
Fair value at 31 December 2024 was represented by revaluation uplift in 2001 £22,609 plus revaluation uplift in 2005 £40,000 plus reveluation uplift £10,000 2024 plus cost £17,391. Total £90,000. The investment property was valued on an open market basis in June 2024 by J&E Shepherd, chartered surveyors. The directors believe that this valuation represents a fair value for the property at 31st December 2024.
5 Debtors 2024 2023
£ £
Trade debtors 750 750
6 Creditors: amounts falling due within one year 2024 2023
£ £
Directors loan account 17,254 17,254
Accruals 950 905
Taxation and social security costs 2,154 2,063
20,358 20,222
7 Revaluation reserve 2024 2023
£ £
At 1 January 2024 62,609 62,609
Gain on revaluation of land and buildings 10,000 -
Deferred taxation arising on the revaluation of land and buildings (2,000) -
At 31 December 2024 70,609 62,609
8 Other information
Marbel Properties Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
48 Cross Arthurlie Street
Barrhead
Glasgow
G78 1QU
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