Markbell Ltd - Period Ending 2021-03-31

Markbell Ltd

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 6

Markbell Ltd

Company Information

Directors

Mr W H Organ Mr J Chatterley

Registered office

2 Yeldham Mews Cheltenham Gloucestershire GL52 3JZ

Accountants

Holberton & Co Nortonbury House 37 High Street Tewkesbury Gloucestershire GL20 5BB

Markbell Ltd

(Registration number: 01962466)
Abridged Balance Sheet as at 31 March 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	82,476	82,476
Current assets
Cash at bank and in hand		6,550	4,743
Creditors: Amounts falling due within one year		(82,479)	(82,478)
Net current liabilities		(75,929)	(77,735)
Total assets less current liabilities		6,547	4,741
Accruals and deferred income		(7,069)	(7,069)
Net liabilities		(522)	(2,328)
Capital and reserves
Called up share capital	5	96	96
Profit and loss account		(618)	(2,424)
Shareholders' deficit		(522)	(2,328)

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 16 November 2021 and signed on its behalf by:
 

Markbell Ltd

(Registration number: 01962466)
Abridged Balance Sheet as at 31 March 2021

.........................................

Mr W H Organ
Director

.........................................

Mr J Chatterley
Director

Markbell Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021

1	General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
2 Yeldham Mews
Cheltenham
Gloucestershire
GL52 3JZ

The principal place of business is:
2 Yeldham Mews
Cheltenham
Gloucestershire
GL52 3JZ

These financial statements were authorised for issue by the Board on 16 November 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Markbell Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation rates

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

Markbell Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2021

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 April 2020	82,476	82,476
At 31 March 2021	82,476	82,476
Depreciation
Carrying amount
At 31 March 2021	82,476	82,476
At 31 March 2020	82,476	82,476

Included within the net book value of land and buildings above is £82,476 (2020 - £82,476) in respect of freehold land and buildings.
 

5	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary of £1 each	98	98	98	98