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Registered number: 07647768
FOUR MARKS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE 8 MONTHS ENDED 31 MARCH 2020
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FOUR MARKS LIMITED
REGISTERED NUMBER: 07647768
BALANCE SHEET
AS AT 31 MARCH 2020
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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S F Gavin
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The notes on pages 2 to 6 form part of these financial statements.
Page 1
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FOUR MARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED 31 MARCH 2020
Four Marks Limited is a company limited by share capital and incorporated in England and Wales. The address of the registered office and principal place of business is 2nd Floor Clifton House, Bunnian Place, Basingstoke, England, RG21 7JE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
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Exemption from preparing consolidated financial statements
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The Company is a parent Company that is also a subsidiary included in the consolidated financial statements of its ultimate parent undertaking established under the law of an EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Page 2
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FOUR MARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED 31 MARCH 2020
2.Accounting policies (continued)
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in 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 the Profit and loss account.
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The Company does not have any employees.
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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Page 3
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FOUR MARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED 31 MARCH 2020
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Due after more than one year
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Amounts owed by group undertakings
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 4
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FOUR MARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED 31 MARCH 2020
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Creditors: Amounts falling due after more than one year
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Amounts owed to group undertakings
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The intercompany payable to Hartford Care Group Limited of £1,437,597 is unsecured and fully subordinated to any charges or rights accrued in connection with the Group loan facility. The intercompany payable is repayable on a rolling 367 day basis and accrue no interest.
The bank loan held by Hartford Care Group Limited is secured by an intercompany guarantee over the Group's assets.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Page 5
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FOUR MARKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED 31 MARCH 2020
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Allotted, called up and fully paid
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4 (2019 - 4) Ordinary shares of £1.00 each
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During the year, Hartford Care Group Limited, the ultimate parent company refinanced, repaying all existing debt and replacing it with £45 million Facilities Agreement with National Westminster Bank plc. Along with fellow subsidiaries, the company is a guarantor of this Agreement and the bank holds a charge over its assets.
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Related party transactions
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The company has taken advantage of the exemption in FRS 102 from the requirement to disclose transactions with 100% group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.
Included in creditors is an amount of £Nil (2019: £59,996) owed to the directors by the company. No interest is charged on this balance and there was no fixed date for repayment.
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The immediate parent company is Hartford Care Group Limited, a company incorporated in England and Wales.
The ultimate parent company and the smallest and largest group in which the company's results are consolidated is Hartford Care Group Limited, a company incorporated in England and Wales. The consolidated accounts of Hartford Care Group Limited are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
There is no one ultimate controlling party.
The auditors' report on the financial statements for the 8 months ended 31 March 2020 was unqualified.
The audit report was signed on 3 September 2020 by Alexander Peal BSc (Hons) FCA DChA (Senior statutory auditor) on behalf of James Cowper Kreston.
Page 6
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