Registered number
09420628
Marco Polo Properties Limited
Filleted Accounts
31 December 2024
Marco Polo Properties Limited
Registered number: 09420628
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,322,203 5,322,203
Current assets
Debtors 4 64,529 20,878
Cash at bank and in hand 43,517 96,045
108,046 116,923
Creditors: amounts falling due within one year 5 (1,810,221) (1,943,291)
Net current liabilities (1,702,175) (1,826,368)
Total assets less current liabilities 3,620,028 3,495,835
Creditors: amounts falling due after more than one year 6 (166,619) (233,252)
Net assets 3,453,409 3,262,583
Capital and reserves
Called up share capital 600 600
Profit and loss account 3,452,809 3,261,983
Shareholders' funds 3,453,409 3,262,583
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.
Mr T Thevarajah
Director
Approved by the board on 26 August 2025
Marco Polo 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.
Tangible fixed assets
All fixed assets are initially recorded at cost. No depreciation is provided.
Investment properties
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
Impairment of fixed assets
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.

For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 2 2
3 Tangible fixed assets
Investment properties
£
Cost
At 1 January 2024 5,322,203
At 31 December 2024 5,322,203
Depreciation
At 31 December 2024 -
Net book value
At 31 December 2024 5,322,203
At 31 December 2023 5,322,203
4 Debtors 2024 2023
£ £
Trade debtors 12,822 20,700
Other debtors 51,707 178
64,529 20,878
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 67,285 470,078
Trade creditors 624,041 644,042
Taxation and social security costs 63,609 51,431
Other creditors 1,055,286 777,740
1,810,221 1,943,291
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 166,619 233,252
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 102,800
Secured bank loans 233,904 703,933
The bank loan is secured by way of fixed and floating charges over the company’s assets.
8 Controlling party
The ultimate controlling party are Mr T Thevarajah and Mrs K Thevarajah..
9 Other information
Marco Polo Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
56 Wolsey Road
Northwood
Middlesex
HA6 2EH
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