Marchmont Gate Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07568184 (England and Wales)

Marchmont Gate Ltd

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R A Imlach

M A Carden

REGISTERED OFFICE:

Unit 3

MARCHMONT GATE

Hemel Hempstead

Hertfordshire

HP2 7BE

REGISTERED NUMBER:

07568184 (England and Wales)

ACCOUNTANTS:

Davis & Co LLP

Ellerd House

Amenbury Lane

HARPENDEN

Hertfordshire

AL5 2EJ

FIXED ASSETS

Intangible assets

3

596,359

634,425

CURRENT ASSETS

Debtors

4

290,000

290,000

Cash at bank

538,877

1,037,791

828,877

1,327,791

CREDITORS

Amounts falling due within one year

5

432,543

958,842

NET CURRENT ASSETS

396,334

368,949

TOTAL ASSETS LESS CURRENT LIABILITIES

992,693

1,003,374

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

992,691

1,003,372

SHAREHOLDERS' FUNDS

992,693

1,003,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 July 2017 and were signed on its behalf by:

R A Imlach - Director

1.	STATUTORY INFORMATION

Marchmont Gate 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

955,000

AMORTISATION

At 1 April 2016

320,575

Charge for year

38,066

At 31 March 2017

358,641

NET BOOK VALUE

At 31 March 2017

596,359

At 31 March 2016

634,425

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

290,000

290,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

(1

)

Other creditors

432,543

958,843

432,543

958,842