T&C Markyate Limited 31/03/2021 iXBRL

T&C Markyate Limited 31/03/2021 iXBRL

T&C MARKYATE LTD - Company Information

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Company registration number: 12495569
T&C Markyate Limited
Unaudited filleted financial statements
31 March 2021
T&C Markyate Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
T&C Markyate Limited
Directors and other information
Director Mr M Bristow
Company number 12495569
Registered office 51 High Street
Redbourn
Herts
AL3 7LW
Accountants Hardcastle Blake
2 Liscombe West
Liscombe Park
Soulbury
Leighton Buzzard
LU7 0JL
T&C Markyate Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of T&C Markyate Limited
Year ended 31 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T&C Markyate Limited for the year ended 31 March 2021 which comprise the statement of financial position, statement of changes in equity and 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 at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of T&C Markyate Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of T&C Markyate Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T&C Markyate Limited and its director as a body for our work or for this report.
It is your duty to ensure that T&C Markyate Limited 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 T&C Markyate Limited. You consider that T&C Markyate Limited 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 T&C Markyate Limited. 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.
Hardcastle Blake
ICAEW
2 Liscombe West
Liscombe Park
Soulbury
Leighton Buzzard
LU7 0JL
4 October 2021
T&C Markyate Limited
Statement of financial position
31 March 2021
2021
Note £ £
Fixed assets
Investments 4 150
_______
150
Total assets less current liabilities 150
_______
Net assets 150
_______
Capital and reserves
Called up share capital 150
_______
Shareholders funds 150
_______
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 October 2021 , and are signed on behalf of the board by:
Mr M Bristow
Director
Company registration number: 12495569
T&C Markyate Limited
Statement of changes in equity
Year ended 31 March 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2020 - - -
Profit for the year 7,031 7,031
_______ _______ _______
Total comprehensive income for the year - 7,031 7,031
Issue of shares 150 150
Dividends paid and payable ( 7,031) ( 7,031)
_______ _______ _______
Total investments by and distributions to owners 150 ( 7,031) ( 6,881)
_______ _______ _______
At 31 March 2021 150 - 150
_______ _______ _______
T&C Markyate Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51 High Street, Redbourn, Herts, AL3 7LW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2020 - -
Additions 150 150
_______ _______
At 31 March 2021 150 150
_______ _______
Impairment
At 1 April 2020 and 31 March 2021 - -
_______ _______
Carrying amount
At 31 March 2021 150 150
_______ _______
5. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2021
£
Town and Country Interim Limited 150
_______
During the year, the Liquidator of Town and Country Interim Limited transferred the shares it held in Town and Country Markyate Limited to T & C Markyate Limited. This transfer took place in exchange for T & C Markyate Limited issuing new shares of value £150 in paid up capital to the shareholders of Town and Country Interim Limited.
6. Controlling party
The ultimate controlling party is Mark Bristow - director by virtue of his majority shareholding in the company