Marpaul Properties Limited - Period Ending 2015-03-31

Registration number: 04634463

Marpaul Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Broderick & Leslie
Chartered Certified Accountants
3 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB

Marpaul Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Marpaul Properties Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marpaul Properties Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Marpaul Properties Limited, as a body, in accordance with the terms of our engagement letterdated 1 November 2010. Our work has been undertaken solely to prepare for your approval the accounts of Marpaul Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marpaul Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Marpaul Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Marpaul Properties Limited. You consider that Marpaul Properties 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 accounts of Marpaul Properties 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 accounts.

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

Broderick & Leslie
Chartered Certified Accountants
3 Railway Court
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5FB

15 December 2015

Page 1

Marpaul Properties Limited
(Registration number: 04634463)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015						2014 £
	£			£
Fixed assets
Tangible fixed assets								591,061			591,472
Current assets
Debtors					-						239
Cash at bank and in hand					1,977						-
					1,977						239
Creditors: Amounts falling due within one year					(58,465)						(72,053)
Net current liabilities								(56,488)			(71,814)
Total assets less current liabilities								534,573			519,658
Creditors: Amounts falling due after more than one year								(431,500)			(432,413)
Net assets								103,073			87,245
Capital and reserves
Called up share capital		4			4						4
Profit and loss account					103,069						87,241
Shareholders' funds								103,073			87,245

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

For the year ending 31 March 2015 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 15 December 2015 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Marpaul Properties Limited
(Registration number: 04634463)
Abbreviated Balance Sheet at 31 March 2015
......... continued

......................................... Mrs P Flanagan Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Marpaul Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents income received from the rental of properties.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful life as follows:

Asset class	Depreciation method and rate
Freehold property	Not depreciated
Motor vehicles	25% reducing balance method

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

Marpaul Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		595,026			595,026
At 31 March 2015		595,026			595,026
Depreciation
At 1 April 2014		3,554			3,554
Charge for the year		411			411
At 31 March 2015		3,965			3,965
Net book value
At 31 March 2015		591,061			591,061
At 31 March 2014		591,472			591,472

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		-			5,118
Amounts falling due after more than one year		-			431,500
Total secured creditors		-			436,618

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		431,500			432,413

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		4			4			4			4

Page 5

Marpaul Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mrs P Flanagan
Mr M & Mrs P Flanagan	34,703	670	34,033	(12,119)
Mr M J Hand
Mr MJ & Mrs J Hand	19,003	(210)	19,213	-

Page 6