Town & Country Markyate Limited 31/03/2025 iXBRL

Company registration number: 04514413

Town & Country Markyate Limited

Unaudited filleted financial statements

31 March 2025

Town & Country Markyate Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Town & Country Markyate Limited

Directors and other information


	Director	Mr Mark Bristow


	Company number	04514413


	Registered office	51 High Street
		Redbourn
		St Albans
		Hertfordshire
		AL3 7LW


	Business address	51 High Street
		Redbourn
		St Albans
		Hertfordshire
		AL3 7LW


	Accountants	Hardcastle Blake
		19 New Road
		Drayton Parslow
		Milton Keynes
		MK17 0JH

Town & Country Markyate Limited

Chartered accountants report to the director on the preparation of the

unaudited statutory financial statements of Town & Country Markyate Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Town & Country Markyate Limited for the year ended 31 March 2025 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of Town & Country Markyate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Town & Country Markyate Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Town & Country Markyate Limited and its director as a body for our work or for this report.

It is your duty to ensure that Town & Country Markyate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Town & Country Markyate Limited. You consider that Town & Country Markyate Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Town & Country Markyate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardcastle Blake

Chartered Accountants

19 New Road

Drayton Parslow

Milton Keynes

MK17 0JH

23 July 2025

Town & Country Markyate Limited

Statement of financial position

31 March 2025

			2025		2024
		Note	£	£	£	£

Fixed assets
Tangible assets		5	-		561
Investments		6	775,000		675,000
			_______		_______
				775,000		675,561

Current assets
Debtors:
	Amounts falling due within one year	7	71,908		51,776
Cash at bank and in hand			29,452		105,603
			_______		_______
			101,360		157,379
Creditors: amounts falling due
within one year		8	( 186,180)		( 104,638)
			_______		_______
Net current (liabilities)/assets				( 84,820)		52,741
				_______		_______
Total assets less current liabilities				690,180		728,302

Creditors: amounts falling due
after more than one year		9		( 1,138)		( 16,960)

Provisions for liabilities				( 44,166)		( 44,166)

				_______		_______
Net assets				644,876		667,176
				_______		_______

Capital and reserves
Called up share capital				150		150
Profit and loss account				644,726		667,026
				_______		_______
Shareholders funds				644,876		667,176
				_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:

Mr Mark Bristow

Director

Company registration number: 04514413

Town & Country Markyate Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 51 High Street, Redbourn, St Albans, Hertfordshire, AL3 7LW.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 April 2024	4,086	4,086
Disposals	( 4,086)	( 4,086)
	_______	_______
At 31 March 2025	-	-
	_______	_______
Depreciation
At 1 April 2024	3,525	3,525
Charge for the year	560	560
Disposals	( 4,085)	( 4,085)
	_______	_______
At 31 March 2025	-	-
	_______	_______
Carrying amount
At 31 March 2025	-	-
	_______	_______
At 31 March 2024	561	561
	_______	_______

6. Investments

	Shares in group undertakings and participating interests	Other investments other than loans	Total
	£	£	£
Cost
At 1 April 2024	-	675,000	675,000
Additions	100,000	-	100,000
	_______	_______	_______
At 31 March 2025	100,000	675,000	775,000
	_______	_______	_______
Impairment
At 1 April 2024 and 31 March 2025	-	-	-
	_______	_______	_______
Carrying amount
At 31 March 2025	100,000	675,000	775,000
	_______	_______	_______
At 31 March 2024	-	675,000	675,000
	_______	_______	_______

7. Debtors

Debtors falling due within one year are as follows:

	2025	2024
	£	£
Trade debtors	408	276
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10,000	-
Other debtors	61,500	51,500
	_______	_______
	71,908	51,776
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	171,800	34,115
Corporation tax	5,162	10,585
Social security and other taxes	1,009	1,779
Other creditors	8,209	58,159
	_______	_______
	186,180	104,638
	_______	_______

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	1,138	16,960
	_______	_______

The remaiining CBIL's loan is £22,738 (2024: £38,650 ).

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note )	44,166	44,166
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Fair value adjustment of investment property	44,166	44,166
	_______	_______

11. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Town and Country Caddington - management charge	-	13,333	-	-
Fine and Country Redbourn - management charge	-	-	-	-
Town and Country Edlesborough - inter co	-	-	-	-
Town and Country Maintenance - inter co	-	6,283	1,500	1,500
Burgundy Developments - inter co	-	(248,800)	-	-
Fine and Country Redbourn	2,000	50,000	52,000	50,000
Burgundy Developments Loan interest	-	20,000	-	-
Town and Country Edlesborough - management charge	10,000	-	-	-
Town and Country Caddington - inter co	8,000	-	8,000	-
K Haworth - loan from relative	(100,000)	-	( 100,000)	-
	_______	_______	_______	_______

The majority of the related party transactions relate to management charges. Inter company loans are also made to assist funding requirements in common ownership entities

12. Controlling party

The parent company is T & C Markyate Limited, its registered office being the same . The ultimate controlling party is Mr M Bristow by virtue of his controlling interest of the parent company.