| REGISTERED NUMBER: |
| MARLBOROUGH BUSINESS PARK LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| REGISTERED NUMBER: |
| MARLBOROUGH BUSINESS PARK LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MARLBOROUGH BUSINESS PARK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants and |
| Chartered Tax Advisers |
| Broad House |
| 1 The Broadway |
| Old Hatfield |
| Hertfordshire |
| AL9 5BG |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT 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 |
| Retained earnings |
| 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. |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Marlborough Business Park Limited is a |
| 2. | ACCOUNTING POLICIES |
| Preparation of financial statements |
| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. |
| The financial statements have been prepared on a going concern basis. |
| The Company has taken advantage of exemption under the terms of Financial Reporting Standard 102 not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| Estimates and judgements are periodically evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. |
| The company's critical accounting judgements and estimates are in respect of the fair value of freehold investment properties. |
| Details of these judgements and estimates are described in the relevant accounting policy and detailed notes to the financial statements as set out below: |
| Freehold investment properties: |
| Property held for investment is valued by the directors to determine its fair value using the yield methodology. The valuations are based on assumptions including future rental income and anticipated costs. The directors also make reference to the market evidence of transaction prices for similar properties (see accounting policy on investment properties). |
| Debtors: |
| Judgment is exercised in considering the recoverability of any rent arrears. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| Freehold investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account. |
| Borrowing costs directly attributable to the acquisition and construction of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use, are added to the cost of those assets until such time as the assets are substantially ready for letting. |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as rent receivable and other accounts receivable and payable and loans from banks and related parties. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Taxation |
| The charge for taxation is based on the profit or loss for the year and takes into account taxation deferred. Current tax is measured at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted by the reporting date. |
| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date. Deferred tax balances are not discounted. |
| Rental income receivable |
| Rental income receivable under occupational leases is credited to profit or loss on a straight line basis over the terms of the leases. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2023 |
| Revaluations | 119,000 |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| The freehold investment properties were revalued on 30 September 2024 by independent valuation experts at open market value. A revaluation gain arising in the year of £119,000 (2023: revaluation loss £688,000) has been recognised in profit or loss. |
| The historical cost of the freehold investment properties was £4,055,013 (2023 - £4,055,013). Included within cost at 30 September 2024 are capitalised borrowing costs of £277,077 (2023 - £277,077). |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| MARLBOROUGH BUSINESS PARK LIMITED (REGISTERED NUMBER: 04669696) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The loans are repayable by instalments in less than five years. |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| The bank loan is secured on the company's freehold property and the interest rate is variable. |