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MARS PROPERTY GROUP LTD

Registered Number
13081080
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

MARS PROPERTY GROUP LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

HARRIS, Shane
WOOD, Marc

Registered Address

2 Colchester Road
St Osyth
CO16 8HA

Registered Number

13081080 (England and Wales)
MARS PROPERTY GROUP LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3643-
Investment property4453,793453,793
454,436453,793
Current assets
Debtors5394-
Cash at bank and on hand9,9435,866
10,3375,866
Creditors amounts falling due within one year6(44,603)(40,498)
Net current assets (liabilities)(34,266)(34,632)
Total assets less current liabilities420,170419,161
Creditors amounts falling due after one year7(301,606)(307,463)
Provisions for liabilities8(31,336)(31,175)
Net assets87,22880,523
Capital and reserves
Called up share capital100100
Revaluation reserve93,52593,525
Profit and loss account(6,397)(13,102)
Shareholders' funds87,22880,523
The financial statements were approved and authorised for issue by the Board of Directors on 19 March 2025, and are signed on its behalf by:
HARRIS, Shane
Director
WOOD, Marc
Director

Registered Company No. 13081080
MARS PROPERTY GROUP LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions858858
At 31 December 24858858
Depreciation and impairment
Charge for year215215
At 31 December 24215215
Net book value
At 31 December 24643643
At 31 December 23--
4.Investment property
If investment property had been accounted for under historical cost accounting rules, the value as at 31 December 2024 would be £329,092 (2023 - £329,092).

£
Fair value at 01 January 24453,793
At 31 December 24453,793
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income394-
Total394-
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-34
Amounts owed to related parties43,26140,464
Accrued liabilities and deferred income1,342-
Total44,60340,498
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts301,606101,788
Other creditors-205,675
Total301,606307,463
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)31,33631,175
Total31,33631,175