Markmill Limited - Accounts to registrar (filleted) - small 23.2.5
Markmill Limited - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2022 |
for |
Markmill Limited |
Markmill Limited (Registered number: 01963589) |
Contents of the Financial Statements |
for the Year Ended 30 November 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Markmill Limited |
Company Information |
for the Year Ended 30 November 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Sterling House |
7 Ashford Road |
Maidstone |
Kent |
ME14 5BJ |
Markmill Limited (Registered number: 01963589) |
Balance Sheet |
30 November 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
Markmill Limited (Registered number: 01963589) |
Notes to the Financial Statements |
for the Year Ended 30 November 2022 |
1. | STATUTORY INFORMATION |
Markmill Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income recognition |
Turnover represents the fair value of consideration received or receivable derived from rents received during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice. |
Investment property |
In accordance with Statement of Standard Accounting Practice number 19, interests in property which is held for its investment potential are carried in the balance sheet at their open market value. The directors consider that this accounting policy results in the accounts giving a true and fair view. |
Changes in value are not taken to the profit and loss account but are disclosed as a movement on an investment revaluation reserve, unless the total of the reserve is insufficient to cover a deficit, in which case the shortfall is charged to the profit and loss account. |
Financial instruments |
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Basic financial instruments are recognised at amortised cost with changes 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. |
Markmill Limited (Registered number: 01963589) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 December 2021 |
and 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
Cost or valuation at 30 November 2022 is represented by: |
Land and |
buildings |
£ |
Valuation in 1998 | 140,759 |
Valuation in 1999 | (10,836 | ) |
Cost | 296,959 |
426,882 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 296,959 | 296,959 |
The investment property was valued on a rent capitalisation basis on 30 November 1999 by the Directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Markmill Limited (Registered number: 01963589) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 December 2021 |
and 30 November 2022 |
8. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the directors by virtue of their shareholdings. |