Marklark Limited - Accounts to registrar (filleted) - small 17.3

MARKLARK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MAY 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Deco

M J Deco

S Deco

REGISTERED OFFICE:

201 Haverstock Hill

London

NW3 4QG

REGISTERED NUMBER:

02088581 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Tangible assets

4

600

706

Investment property

5

1,750,000

343,243

1,750,600

343,949

CURRENT ASSETS

Debtors

6

1,805

1,991

Cash at bank

12,203

32,324

14,008

34,315

CREDITORS

Amounts falling due within one year

7

181,223

185,374

NET CURRENT LIABILITIES

(167,215

)

(151,059

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,583,385

192,890

PROVISIONS FOR LIABILITIES

210,850

-

NET ASSETS

1,372,535

192,890

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

1,196,021

-

Retained earnings

176,414

192,790

SHAREHOLDERS' FUNDS

1,372,535

192,890

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 27 September 2017 and were signed on its behalf by:

J Deco - Director

1.	STATUTORY INFORMATION

Marklark 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 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 as modified by the revaluation of certain assets.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has

affected the reported financial position and financial performance is given in note 10.

Turnover

Turnover represents rent receivable by the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

12,307

DEPRECIATION

At 1 June 2016

11,601

Charge for year

106

At 31 May 2017

11,707

NET BOOK VALUE

At 31 May 2017

600

At 31 May 2016

706

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2016

343,243

Revaluations

1,406,757

At 31 May 2017

1,750,000

NET BOOK VALUE

At 31 May 2017

1,750,000

At 31 May 2016

343,243

Fair value at 31 May 2017 is represented by:

£

Valuation in 2017

1,406,757

Cost

343,243

1,750,000

The investment property was valued on an open market basis on 31 August 2017 by Goldschmidt & Howland Limited

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,805

1,991

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

5,899

6,393

Other creditors

175,324

178,981

181,223

185,374

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 were paid to the directors .

During the year, the company paid £5,000 (2016 £5,000) to Ms M Deco, who is a director of the company, for

supervision and management of the company.

9.	ULTIMATE CONTROLLING PARTY

Mrs J Deco, a director, together with members of her close family, control the company by virtue of a

controlling interest of 100% of the issued ordinary share capital.

10.	FIRST YEAR ADOPTION

The policies applied under the company's previous accounting framework are not materially different to FRS

102 and have not impacted on equity or profit and loss.