Company registration number 02578496 (England and Wales)
DE LA MARTA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
DE LA MARTA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DE LA MARTA LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
423
922
Investment property
6
350,000
345,000
350,423
345,922
Current assets
Debtors
7
45,006
45,916
Cash at bank and in hand
178,776
190,031
223,782
235,947
Creditors: amounts falling due within one year
Other creditors
8
1,650
1,495
Net current assets
222,132
234,452
Total assets less current liabilities
572,555
580,374
Provisions for liabilities
(23,339)
(22,389)
Net assets
549,216
557,985
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
549,116
557,885
Total equity
549,216
557,985
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DE LA MARTA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 January 2024 and are signed on its behalf by:
Mrs C J Guerrero
Director
Company registration number 02578496 (England and Wales)
DE LA MARTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information
De La Marta Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Ledsham Hall Barns, Ledsham Hall Lane, Ledsham, Ellesmere Port, Cheshire, CH66 9PE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
20% on cost
Fixtures & fittings
10% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Investment properties
Investment properties are included in the accounts at their open market values and subject to an annual revaluation review.
Deferred taxation is provided on all material timing differences and on deferred gains arising from the revaluation of investment property.
1.4
Retirement benefits
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
1.5
Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange rate differences are taken into account in arriving at the operating profit.
DE LA MARTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fair value gains and losses on investment properties
2023
2022
£
£
Fair value gains/(losses)
Changes in the fair value of investment properties
5,000
35,000
4
Taxation
2023
2022
£
£
Deferred tax
Tax on increase in fair value of investment propertry
950
6,650
The deferred tax charge relates to the potential tax liability if should the company's freehold investment property be sold at its fair value as recognised in the financial statements.
5
Tangible fixed assets
Office equipment
Fixtures & fittings
Total
£
£
£
Cost
At 1 May 2022 and 30 April 2023
16,592
15,515
32,107
Depreciation and impairment
At 1 May 2022
16,135
15,050
31,185
Depreciation charged in the year
448
51
499
At 30 April 2023
16,583
15,101
31,684
Carrying amount
At 30 April 2023
9
414
423
At 30 April 2022
457
465
922
DE LA MARTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
6
Investment property
2023
£
Fair value
At 1 May 2022
345,000
Revaluations
5,000
At 30 April 2023
350,000
The freehold investment property is included in the accounts at its approximate market value at the balance sheet date in the opinion of the directors amounting to £350,000 (2022 - £345,000). The original acquisition cost of the property including expenses was £238,216.
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
45,006
45,916
8
Other creditors falling due within one year
2023
2022
£
£
Accruals and deferred income
1,650
1,495
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2023
2022
Balances:
£
£
Fair value adjustments to investment property
23,339
22,389
2023
Movements in the year:
£
Liability at 1 May 2022
22,389
Charge to profit or loss
950
Liability at 30 April 2023
23,339
The deferred tax liability relates to the potential tax liability if should the company's freehold investment property be sold at its fair value as recognised in the financial statements.
DE LA MARTA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
10
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
11
Directors' transactions
At 30 April 2023 outstanding advances and interest totalling £19,684 (2022: £19,601) was due from Mr M Guerrero. Interest of £379 (2022: £388) was charged by the company to Mr M Guerrero at a rate of 2%.
The maximum amount outstanding by Mr Guerrero during the year was £19,684.
At 30 April 2023 outstanding advances and interest totalling £15,073 (2022: 15,080) was due from Mrs C Guerrero. Interest of £289 (2022: £300) was charged by the company to Mrs C Guerrero at a rate of 2%.
The maximum amount outstanding by Mrs Guerrero during the year was £15,073.