Marylebone Asset Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08834718 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

MARYLEBONE ASSET MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R R Shah MSc FRICS

J T Wood B.LandEc MRICS

REGISTERED OFFICE:

55a Welbeck Street

London

W1G 9XQ

REGISTERED NUMBER:

08834718 (England and Wales)

ACCOUNTANTS:

Arithma LLP

Chartered Certified Accountants

9 Mansfield Street

London

W1G 9NY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

14,866

17,314

14,866

17,314

CURRENT ASSETS

Debtors

6

869,344

681,913

Cash at bank and in hand

218,504

1,435,453

1,087,848

2,117,366

CREDITORS

Amounts falling due within one year

7

344,407

1,362,284

NET CURRENT ASSETS

743,441

755,082

TOTAL ASSETS LESS CURRENT LIABILITIES

758,307

772,396

PROVISIONS FOR LIABILITIES

8

2,283

2,516

NET ASSETS

756,024

769,880

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

755,924

769,780

SHAREHOLDERS' FUNDS

756,024

769,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 2 September 2022 and were signed on its behalf by:

R R Shah MSc FRICS - Director

1.	STATUTORY INFORMATION

Marylebone Asset Management Limited 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.

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 net invoiced sales of services, excluding value added tax.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

25% on reducing balance

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.

PENSION COSTS

The company makes contributions to personal pension plans of its employees. The contributions payable in the year are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

36,248

AMORTISATION

At 1 January 2021

and 31 December 2021

36,248

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2021

34,526

Additions

2,508

At 31 December 2021

37,034

DEPRECIATION

At 1 January 2021

17,212

Charge for year

4,956

At 31 December 2021

22,168

NET BOOK VALUE

At 31 December 2021

14,866

At 31 December 2020

17,314

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

48,164

13,224

Amounts owed by group undertakings

267,520

267,520

Other debtors

553,660

401,169

869,344

681,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

27,805

872,639

Taxation and social security

33,067

449,620

Other creditors

283,535

40,025

344,407

1,362,284

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

2,283

2,516

Deferred

tax

£

Balance at 1 January 2021

2,516

Provided during year

(233

)

Accelerated capital allowances

Balance at 31 December 2021

2,283

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, R R Shah owed £Nil (2020 - £9,251) to the company.

The company was owed £205,954 (2020 - £206,606) by companies of which R R Shah and / or J T Wood are directors.

10.	ULTIMATE CONTROLLING PARTY

The company's parent company is Marylebone Properties Overseas Limited. The address of the registered office and principal place of business is 55a Welbeck Street, London W1G 9XQ.