6 Marlborough Place Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09845655 (England and Wales)

6 MARLBOROUGH PLACE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

M A Allen

D M Allen

A C George

J Golesworthy

C K Marsh

J L Thompson

REGISTERED OFFICE:

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

REGISTERED NUMBER:

09845655 (England and Wales)

ACCOUNTANTS:

Breeze & Associates Ltd.

Chartered Accountants

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

SOLICITORS:

Thompson Allen LLP

6 Marlborough Place

Brighton

BN1 1UB

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of 6 Marlborough Place Ltd for the year ended 31 October 2018 which comprise the Income

Statement, Statement of Financial Position and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 6 Marlborough Place Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 6 Marlborough Place Ltd and state those matters that we have agreed to state to the Board of Directors of 6 Marlborough Place Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 6 Marlborough Place Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 6 Marlborough Place Ltd 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 6 Marlborough Place Ltd. You consider that 6 Marlborough Place Ltd 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 6 Marlborough Place Ltd. 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.

Breeze & Associates Ltd.

Chartered Accountants

6 Marlborough Place

Brighton

East Sussex

BN1 1UB

26 March 2019

FIXED ASSETS

Tangible assets

5

12,462

18,649

Investment property

6

820,000

820,000

832,462

838,649

CURRENT ASSETS

Debtors

7

9,242

9,154

Cash at bank

28,126

18,810

37,368

27,964

CREDITORS

Amounts falling due within one year

8

44,648

40,922

NET CURRENT LIABILITIES

(7,280

)

(12,958

)

TOTAL ASSETS LESS CURRENT LIABILITIES

825,182

825,691

CREDITORS

Amounts falling due after more than one year

9

783,355

803,347

NET ASSETS

41,827

22,344

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Other reserves

11

20,531

20,531

Retained earnings

11

20,296

813

SHAREHOLDERS' FUNDS

41,827

22,344

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 26 March 2019 and were signed on its behalf by:

A C George - Director

C K Marsh - Director

M A Allen - Director

J L Thompson - Director

J Golesworthy - Director

D M Allen - Director

1.	STATUTORY INFORMATION

6 Marlborough Place Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33.33% on cost

Fixtures, fittings & integral features

-

15% on reducing balance

Computer equipment

-

33.33% on cost

At each balance sheet date the company reviews the carrying amounts of its property, plant and equipment to

determine whether there is any indication that any items of property, plant and equipment have suffered an

impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to

determine the extent of the impairment loss if any. If the recoverable amount of an asset is estimated to be

less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Impairment loss is recognised as an expense immediately.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment

properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are

measured at fair value. Gains and losses arising from changes in the fair value of investment properties are

included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort on an

on-going basis are included in plant, property and equipment at cost less accumulated depreciation and

accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

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.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original

effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any

impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference

between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the

company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position

when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a

net basis or to realise the asset and settle the liability simultaneously.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Office

& integral

Computer

equipment

features

equipment

Totals

£

£

£

£

COST

At 1 November 2017

and 31 October 2018

9,748

20,292

2,214

32,254

DEPRECIATION

At 1 November 2017

6,498

5,631

1,476

13,605

Charge for year

3,250

2,199

738

6,187

At 31 October 2018

9,748

7,830

2,214

19,792

NET BOOK VALUE

At 31 October 2018

-

12,462

-

12,462

At 31 October 2017

3,250

14,661

738

18,649

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2017

and 31 October 2018

820,000

NET BOOK VALUE

At 31 October 2018

820,000

At 31 October 2017

820,000

Fair value at 31 October 2018 is represented by:

£

Valuation in 2017

20,531

Cost

799,469

820,000

If investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

799,469

799,469

The investment property was valued at 31 October 2018 by the directors at fair value.

The value is not based on a valuation by an independent valuer who holds a relevant professional qualification,

but has been valued by looking at similar properties in the local area and applying commercial property price

indices to the original cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

260

Other debtors

9,242

8,894

9,242

9,154

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

21,162

22,062

Trade creditors

6,923

7,002

Taxation and social security

4,843

1,709

Other creditors

11,720

10,149

44,648

40,922

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

448,791

469,049

Other creditors

334,564

334,298

783,355

803,347

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

357,250

374,158

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

469,953

491,111

Bank loans are secured by a fixed and floating charge over the company assets.

11.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 November 2017

813

20,531

21,344

Profit for the year

19,483

-

19,483

At 31 October 2018

20,296

20,531

40,827

Other reserves represent the unrealised gain net of deferred taxation on the investment property.

12.	RELATED PARTY DISCLOSURES

Included in other creditors falling due after more than 1 year are shareholder loan balances at 31 October

2018:-

2018

2017

J Thompson and E Thompson

£60,891

£60,846

M Allen and C Webb

£60,890

£60,834

C Marsh and E Marsh

£60,890

£60,836

A George and C Harper

£60,891

£60,858

D Allen and S Allen

£50,855

£50,807

J Golesworthy and M Siddle

£40,148

£40,117

Interest is accrued on the shareholder loans at the Bank of England base rate plus 2%.