Mark Street Depository Limited(The) - Accounts to registrar (filleted) - small 18.2

Mark Street Depository Limited(The) - Accounts to registrar (filleted) - small 18.2

MARK STREET DEPOSITORY LIMITED(THE) - Company Information

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REGISTERED NUMBER: 01383494 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2021

for

Mark Street Depository Limited(The)
Mark Street Depository Limited(The) (Registered number: 01383494)






Contents of the Financial Statements
for the Year Ended 30 September 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mark Street Depository Limited(The)

Company Information
for the Year Ended 30 September 2021







DIRECTORS: V D Goldstein
A J Shafron
Ms C Reynolds





REGISTERED OFFICE: 3rd Floor, Solar House
1-9 Romford Road
London
London
E15 4RG





REGISTERED NUMBER: 01383494 (England and Wales)





ACCOUNTANTS: Jones & Partners Limited
3rd Floor Solar House
1-9 Romford Road
London
E15 4RG
Page 1
Mark Street Depository Limited(The) (Registered number: 01383494)

Balance Sheet
30 September 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,854,766 7,822,500

CURRENT ASSETS
Debtors 5 641 3,727
Cash at bank 26,165 45,147
26,806 48,874
CREDITORS
Amounts falling due within one year 6 623,903 534,735
NET CURRENT LIABILITIES (597,097 ) (485,861 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
7,257,669
7,336,639

PROVISIONS FOR LIABILITIES 7 1,370,352 1,370,352
NET ASSETS 5,887,317 5,966,287

CAPITAL AND RESERVES
Called up share capital 80 80
Capital redemption reserve 20 20
Retained earnings 5,887,217 5,966,187
SHAREHOLDERS' FUNDS 5,887,317 5,966,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 30 June 2022 and were signed on its behalf by:




V D Goldstein - Director


The notes form part of these financial statements

Page 2
Mark Street Depository Limited(The) (Registered number: 01383494)

Notes to the Financial Statements
for the Year Ended 30 September 2021

1. STATUTORY INFORMATION

Mark Street Depository Limited(The) 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents the total amounts receivable in respect of the Company's principal activity which changed during the year, from that of a property investment company to a property trading company where turnover is recognised at the fair value of the consideration received or receivable following legal completion of property development projects.

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.

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 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.

Going concern
The Directors are closely monitoring the impact of COVID-19 on the activities of the Company and they have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

Page 3 continued...
Mark Street Depository Limited(The) (Registered number: 01383494)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2020 7,822,500
Additions 32,266
At 30 September 2021 7,854,766
NET BOOK VALUE
At 30 September 2021 7,854,766
At 30 September 2020 7,822,500

At the Balance Sheet date, the investment property was valued by the company directors at fair value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 641 3,727

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors - 27,000
Amounts owed to group undertakings 603,564 484,101
Other creditors 20,339 23,634
623,903 534,735

7. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 1,370,352 1,370,352

Deferred
tax
£   
Balance at 1 October 2020 1,370,352
Balance at 30 September 2021 1,370,352

8. RELATED PARTY DISCLOSURES

At the Balance Sheet date, the company owed £603,564 to its holding company (2020:£484,101). The loan is interest free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Mark Street Property Limited, a company incorporated in the UK.

Page 4 continued...
Mark Street Depository Limited(The) (Registered number: 01383494)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2021

10. CHARGE

A charge has been registered over the freehold property held by the company over debt finance taken by its holding company.

Page 5