1 November 2023 false No description of principal activity Taxfiler 2024.6 SC711050business:PrivateLimitedCompanyLtd2023-11-012024-10-31 SC7110502023-10-31 SC711050business:EntityNoLongerTradingButTradedInPast2023-11-012024-10-31 SC7110502023-11-012024-10-31 SC711050business:AuditExempt-NoAccountantsReport2023-11-012024-10-31 SC711050business:AbridgedAccounts2023-11-012024-10-31 SC7110502024-10-31 SC711050business:Director12023-11-012024-10-31 SC711050business:Director22023-11-012024-10-31 SC711050business:RegisteredOffice2023-11-012024-10-31 SC7110502023-10-31 SC711050core:WithinOneYear2024-10-31 SC711050core:WithinOneYear2023-10-31 SC711050core:AfterOneYear2024-10-31 SC711050core:AfterOneYear2023-10-31 SC711050core:ShareCapitalcore:PreviouslyStatedAmount2024-10-31 SC711050core:ShareCapitalcore:PreviouslyStatedAmount2023-10-31 SC711050core:RevaluationReservecore:PreviouslyStatedAmount2024-10-31 SC711050core:RevaluationReservecore:PreviouslyStatedAmount2023-10-31 SC711050core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-10-31 SC711050core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 SC711050core:PreviouslyStatedAmount2024-10-31 SC711050core:PreviouslyStatedAmount2023-10-31 SC711050business:SmallEntities2023-11-012024-10-31 SC711050countries:Scotland2023-11-012024-10-31 SC7110502022-11-012023-10-31 iso4217:GBP xbrli:pure
Company Registration No. SC711050 (Scotland)
Marcellus Property Limited Unaudited accounts for the year ended 31 October 2024
Marcellus Property Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Marcellus Property Limited Company Information for the year ended 31 October 2024
Directors
Mark Farrelly Michelle Buchanan
Company Number
SC711050 (Scotland)
Registered Office
New Alderston House 3 Dove Wynd Strathclyde Business Park Bellshill Lanarkshire ML4 3FB Scotland
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Marcellus Property Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
115,000 
162,127 
Current assets
Debtors
- 
1,239 
Cash at bank and in hand
148 
173 
148 
1,412 
Creditors: amounts falling due within one year
(72,523)
(60,644)
Net current liabilities
(72,375)
(59,232)
Total assets less current liabilities
42,625 
102,895 
Creditors: amounts falling due after more than one year
(105,579)
(106,389)
Net liabilities
(62,954)
(3,494)
Capital and reserves
Called up share capital
12 
12 
Revaluation reserve
(47,127)
- 
Profit and loss account
(15,839)
(3,506)
Shareholders' funds
(62,954)
(3,494)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Mark Farrelly Director Company Registration No. SC711050
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Marcellus Property Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Marcellus Property Limited is a private company, limited by shares, registered in Scotland, registration number SC711050. The registered office is New Alderston House, 3 Dove Wynd, Strathclyde Business Park, Bellshill, Lanarkshire, ML4 3FB, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover in the accounts relates to rental income. Rental income is recognised to the extent that it is probable that the economic benefits will flow to the Company and income can be reliably measured over the period of the lease. Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised in the period in which the rental service is provided, when the income and the associated costs can be measured reliably and it is probable that the consideration will be received in respect of the rental service provided.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Transactions with related parties
During the year to 31 October 2024, the director, Mark Farrelly, has provided cash to the company in the sum of £2,083. Director Michelle Farrelly has provided cash in the sum of £10,227. As at 31 October 2024, the company owes Mark £30,377 (2023: £28,294) and Michelle Farrelly £38,521 (2023: £28,294). There are no fixed terms of repayment.
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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