Marett Foundations Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02720420 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FOR

MARETT FOUNDATIONS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C Marett

L C Marett

SECRETARY:

L Marett

REGISTERED OFFICE:

North Lodge

Brockham Green

Betchworth

Surrey

RH3 7JS

REGISTERED NUMBER:

02720420 (England and Wales)

ACCOUNTANTS:

Barber & Company

A trading name of PCM Accounting Limited

2 Jardine House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Property, plant and equipment

4

42

49

Investment property

5

70,000

373,000

70,042

373,049

CURRENT ASSETS

Debtors

6

232,050

-

Cash at bank

24,574

19,248

256,624

19,248

CREDITORS

Amounts falling due within one year

7

31,495

16,487

NET CURRENT ASSETS

225,129

2,761

TOTAL ASSETS LESS CURRENT
LIABILITIES

295,171

375,810

PROVISIONS FOR LIABILITIES

8

9,500

57,190

NET ASSETS

285,671

318,620

CAPITAL AND RESERVES

Called up share capital

9

3

Retained earnings

285,668

318,617

SHAREHOLDERS' FUNDS

285,671

318,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2023 and were signed on its behalf by:

C Marett - Director

1.	STATUTORY INFORMATION

Marett Foundations Ltd 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 as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

COST

At 1 September 2021

and 31 August 2022

7,104

1,478

8,582

DEPRECIATION

At 1 September 2021

7,065

1,468

8,533

Charge for year

6

1

7

At 31 August 2022

7,071

1,469

8,540

NET BOOK VALUE

At 31 August 2022

33

9

42

At 31 August 2021

39

10

49

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2021

373,000

Disposals

(263,000

)

Revaluations

(40,000

)

At 31 August 2022

70,000

NET BOOK VALUE

At 31 August 2022

70,000

At 31 August 2021

373,000

Fair value at 31 August 2022 is represented by:

£

Valuation in 2016

50,000

Valuation in 2020

40,000

Valuation in 2022

(40,000

)

Cost

20,000

70,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

Other debtors

232,050

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

Corporation tax

18,986

3,309

Other creditors

-

935

Directors' current accounts

11,258

11,055

Accruals and deferred income

1,251

1,188

31,495

16,487

8.	PROVISIONS FOR LIABILITIES

31.8.22

31.8.21

£

Deferred tax

9,500

57,190

Deferred

tax

£

Balance at 1 September 2021

57,190

Provided during year

(47,690

)

Balance at 31 August 2022

9,500

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.22

31.8.21

value:

£

3

Ordinary

£1

3

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C Marett.

Marett Foundations Ltd - Accounts to registrar (filleted) - small 22.3

Marett Foundations Ltd - Accounts to registrar (filleted) - small 22.3