Marchlink Limited - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: 02811854 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2022

for

Marchlink Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

R Bowden

S J Lines

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

02811854 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

FIXED ASSETS

Tangible assets

4

48,005

8,528

Investment property

5

11,880,735

11,880,735

11,928,740

11,889,263

CURRENT ASSETS

Debtors

6

181,939

117,348

Cash at bank and in hand

119,414

126,937

301,353

244,285

CREDITORS

Amounts falling due within one year

7

629,070

565,566

NET CURRENT LIABILITIES

(327,717

)

(321,281

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,601,023

11,567,982

CREDITORS

Amounts falling due after more than one year

8

(952,166

)

(1,085,229

)

PROVISIONS FOR LIABILITIES

(1,321,073

)

(1,321,073

)

NET ASSETS

9,327,784

9,161,680

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

7,540,622

7,540,622

Retained earnings

1,787,062

1,620,958

SHAREHOLDERS' FUNDS

9,327,784

9,161,680

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2023 and were signed on its behalf by:

R Bowden - Director

1.	STATUTORY INFORMATION

Marchlink 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the rent and services consideration received or receivable net of VAT and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% 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.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2021

20,216

Additions

42,951

At 31 October 2022

63,167

DEPRECIATION

At 1 November 2021

11,688

Charge for year

3,474

At 31 October 2022

15,162

NET BOOK VALUE

At 31 October 2022

48,005

At 31 October 2021

8,528

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 November 2021

20,216

Additions

40,998

Transfer to ownership

(20,216

)

At 31 October 2022

40,998

DEPRECIATION

At 1 November 2021

11,688

Charge for year

854

Transfer to ownership

(11,688

)

At 31 October 2022

854

NET BOOK VALUE

At 31 October 2022

40,144

At 31 October 2021

8,528

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2021

and 31 October 2022

11,880,735

NET BOOK VALUE

At 31 October 2022

11,880,735

At 31 October 2021

11,880,735

Fair value at 31 October 2022 is represented by:

£

Valuation in 2021

11,880,735

If investment properties had not been revalued they would have been included at the following historical cost:

31.10.22

31.10.21

£

£

Cost

3,011,753

3,011,753

Investment properties were valued on a fair value basis on 31 October 2022 by R Bowden, a director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Trade debtors

113,187

71,788

Other debtors

68,752

45,560

181,939

117,348

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts

181,151

200,090

Hire purchase contracts

8,040

3,079

Trade creditors

755

930

Taxation and social security

146,895

150,334

Other creditors

292,229

211,133

629,070

565,566

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans

716,028

897,109

Hire purchase contracts

32,159

-

Other creditors

203,979

188,120

952,166

1,085,229

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due more than 5 years

475,946

553,768

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.22

31.10.21

£

£

Bank loans

897,179

1,097,199

Hire purchase contracts

40,199

3,079

937,378

1,100,278

The bank loans are secured by way of legal charges over the company's investment property.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.22

31.10.21

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

value

reserve

£

At 1 November 2021

and 31 October 2022

7,540,622

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marchlink Limited for the year ended 31 October 2022 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marchlink Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marchlink Limited and state those matters that we have agreed to state to the Board of Directors of Marchlink Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marchlink Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marchlink 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 Marchlink Limited. You consider that Marchlink 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 Marchlink 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.

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

30 June 2023