Marmalade Property Limited - Accounts to registrar (filleted) - small 18.2
Marmalade Property Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 December 2019 |
| for |
| Marmalade Property Limited |
| Marmalade Property Limited (Registered number: 04455262) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Marmalade Property Limited |
| Company Information |
| for the Year Ended 31 December 2019 |
| Director: |
| Registered office: |
| Registered number: |
| Accountants: |
| Chartered accountants |
| 85 Church Road |
| Hove |
| East Sussex |
| BN3 2BB |
| Marmalade Property Limited (Registered number: 04455262) |
| Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors: amounts falling due within one year |
7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors: amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital | 10 |
| Investment property reserve | 11 |
| Retained earnings |
| Shareholders' funds |
| The director acknowledges her 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. |
| Marmalade Property Limited (Registered number: 04455262) |
| Balance Sheet - continued |
| 31 December 2019 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on signed by: |
| Marmalade Property Limited (Registered number: 04455262) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | Statutory information |
| Marmalade Property Limited is a |
| 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. | Accounting policies |
| Basis of preparing the financial statements |
| 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. The financial statements have been |
| prepared under the historical cost convention as modified by the revaluation of certain assets. |
| 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. When the outcome of a transaction |
| involving the rendering of services can be reliably estimated, revenue from the rendering of services is |
| measured by reference to the stage of completion of the service transaction at the end of the reporting |
| period. When the outcome of a transaction involving the rendering of services cannot be reliably |
| estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
| Rents are received gross of management charges. |
| Property, plant and equipment |
| Plant and machinery etc | - |
| Property, plant and equipment are stated at cost or valuation less accumulated depreciation and |
| accumulated impairment losses. Cost includes costs directly attributable to making the asset capable |
| of operating as intended. |
| Investment property |
| Investment property is initially recorded at cost, which includes purchase price and any directly |
| attributable expenditure. |
| Investment property is revalued at its fair value at each reporting date and any changes in fair value |
| are recognised in profit or loss. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity 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. |
| Marmalade Property Limited (Registered number: 04455262) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 2. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
| Account, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet 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. |
| Leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period |
| of the lease. |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2018 - NIL). |
| Marmalade Property Limited (Registered number: 04455262) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 4. | Property, plant and equipment |
| Fixtures |
| and |
| fittings |
| £ |
| Cost |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| Depreciation |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| At 31 December 2018 |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| Net book value |
| At 31 December 2019 |
| At 31 December 2018 |
| The investment property fair value of £1,936,765 (2018 - £1,408,744) was determined by the |
| directors based on the market value of similar properties in the area. |
| 6. | Debtors: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Marmalade Property Limited (Registered number: 04455262) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 7. | Creditors: amounts falling due within one year |
| 2019 | 2018 |
| £ | £ |
| Bank loans and overdrafts |
| Income received in advance |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more than 5 years |
| by non-instalments |
| Repayable by instalments |
| Bank loans more than 5 years |
| by instalments | 529,798 | 285,814 |
| 529,798 | 285,814 |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2019 | 2018 |
| £ | £ |
| Bank loans |
| Other loans |
| Loans are secured against the assets to which they relate. |
| Marmalade Property Limited (Registered number: 04455262) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 10. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 11. | Reserves |
| Investment |
| property |
| reserve |
| £ |
| At 1 January 2019 |
| Transfer | 3,721 |
| At 31 December 2019 |
| 12. | Related party disclosures |
| Within creditors is £145,399 (2018 - £145,399) owed to the director and £334,779 (2018 - £111,912) |
| owed to a shareholder. |