Marmalade Property Limited - Accounts to registrar (filleted) - small 23.1.5

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MARMALADE PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

Ms T Webb

SECRETARY:

Mr M Barnes

REGISTERED OFFICE:

70-72 Nottingham Road

Mansfield

Nottinghamshire

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BUSINESS ADDRESS:

24 Sussex Square

Kemp Town

Brighton

East Sussex

BN2 5AB

REGISTERED NUMBER:

04455262 (England and Wales)

ACCOUNTANTS:

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

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FIXED ASSETS

Tangible assets

4

2,778

3,705

Investment property

5

2,591,744

2,591,744

2,594,522

2,595,449

CURRENT ASSETS

Debtors

6

1,311

568

Cash at bank

8,240

15,700

9,551

16,268

CREDITORS

Amounts falling due within one year

7

856,224

572,631

NET CURRENT LIABILITIES

(846,673

)

(556,363

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,747,849

2,039,086

CREDITORS

Amounts falling due after more than one year

8

(613,082

)

(958,083

)

PROVISIONS FOR LIABILITIES

(134,764

)

(121,980

)

NET ASSETS

1,000,003

959,023

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

10

676,490

736,919

Retained earnings

323,413

222,004

SHAREHOLDERS' FUNDS

1,000,003

959,023

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 6 July 2023 and were signed by:

Ms T Webb - Director

1.	STATUTORY INFORMATION

Marmalade Property 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.

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

Turnover 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.

Fixtures and fittings

-

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2022

and 31 December 2022

6,272

DEPRECIATION

At 1 January 2022

2,567

Charge for year

927

At 31 December 2022

3,494

NET BOOK VALUE

At 31 December 2022

2,778

At 31 December 2021

3,705

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

2,591,744

NET BOOK VALUE

At 31 December 2022

2,591,744

At 31 December 2021

2,591,744

Fair value at 31 December 2022 is represented by:

£

Valuation in 2019

277,132

Valuation in 2020

544,979

Valuation in 2021

110,000

Cost

1,659,633

2,591,744

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

-

110

Prepayments

1,311

458

1,311

568

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans and overdrafts

31,000

52,829

Trade creditors

775

817

Tax

7,155

11,465

Other creditors

-

28,536

Directors' current accounts

812,769

476,260

Accrued expenses

4,525

2,724

856,224

572,631

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Bank loans - 1-2 years

32,500

62,000

Bank loans - 2-5 years

426,491

167,109

Bank loans more 5 yr by instal

154,091

728,974

613,082

958,083

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

154,091

728,974

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Bank loans

644,082

1,010,912

Loans are secured against the investment property to which they relate.

10.

RESERVES

Fair

value

reserve

£

At 1 January 2022

736,919

Transfer of fair value

(60,429

)

At 31 December 2022

676,490

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2022 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Hewitt Card Limited

Chartered Certified Accountants

70-72 Nottingham Road

Mansfield

Nottinghamshire

NG18 1BN

Date: .............................................