IRIS Accounts Production
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09816081
Board of Directors
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30.6.16
30.6.16
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REGISTERED NUMBER:
09816081
(England and Wales)
|
FINANCIAL STATEMENTS FOR THE PERIOD 8 OCTOBER 2015 TO 30 JUNE 2016
|
MARLBOROUGH PROPERTY (NBS 169) LIMITED
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Directors' Responsibilities Statement
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3
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|
Report of the Independent Auditors
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4
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Statement of Changes in Equity
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8
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Notes to the Financial Statements
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9
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|
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REGISTERED OFFICE:
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Two Marlborough Court
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REGISTERED NUMBER:
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09816081 (England and Wales)
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INDEPENDENT AUDITORS
:
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KPMG LLP
|
|
Statutory Auditor, Chartered Accountants |
The directors present their report with the financial statements of the company for the period 8 October 2015 to 30 June 2016. |
The company was incorporated on 8 October 2015 .
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The principal activity of the company in the period under review was that of commercial property
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The directors do not recommend the payment of a dividend (2015: £nil).
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The directors who have held office during the period from 8 October 2015 to the date of this report
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W L Adderley - appointed 8 October 2015
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D L Wright - appointed 8 October 2015
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I Martin - appointed 8 October 2015 - resigned 8 March 2016
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
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So far as the directors are aware, there is no relevant audit information (as defined by Section 418
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of the Companies Act 2006) of which the company's auditors are unaware, and each director has
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taken all the steps that he ought to have taken as a director in order to make himself aware of any
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relevant audit information and to establish that the company's auditors are aware of that
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The directors are responsible for preparing the Directors' Report and the financial statements in
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accordance with applicable law and regulations.
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Company law requires the directors to prepare financial statements for each financial year. Under
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that law they have elected to prepare the financial statements in accordance with applicable law
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and Section 1A of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
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Ireland (UK Generally Accepted Accounting Practice applicable to Smaller Entities.
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Under company law the directors must not approve the financial statements unless they are
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satisfied that they give a true and fair view of the state of affairs of the company and of the profit or
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loss of the company for that period. In preparing these financial statements, the directors are
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- select suitable accounting policies and then apply them consistently;
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- make judgements and estimates that are reasonable and prudent Paragraph 13 of Part II of
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Schedule 1 to the Companies Act 2006 The Small Companies and Groups (Accounts and Reports)
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Regulations 2008 (SI 2008 No. 409) require that the amount of any item "must be determined on a
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- prepare the financial statements on the going concern basis unless it is inappropriate to presume
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that the company will continue in business. Included where no separate statement on going
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concern is made by the directors.
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The directors are responsible for keeping adequate accounting records that are sufficient to show
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and explain the company's transactions and disclose with reasonable accuracy at any time the
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financial position of the company and enable them to ensure that the financial statements comply
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with the Companies Act 2006. They have general responsibility for taking such steps as are
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reasonably open to them to safeguard the assets of the company and to prevent and detect fraud
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and other irregularities.
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We have audited the financial statements of Marlborough Property (NBS 169) Limited for the
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period ended 30 June 2016 set out on pages six to ten. The financial reporting framework that has
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been applied in their preparation is applicable law and Section 1A of FRS 102 The Financial
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Reporting Standard applicable in the UK and Republic of Ireland (UK Generally Accepted
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Accounting Practice applicable to Smaller Entities).
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of
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Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to
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the company's members those matters we are required to state to them in an auditor's report and
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for no other purpose. To the fullest extent permitted by law, we do not accept or assume
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responsibility to anyone other than the company and the company's members, as a body, for our
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audit work, for this report, or for the opinions we have formed.
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Respective responsibilities of directors and auditor
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As explained more fully in the Directors' Responsibilities Statement set out on page three, the
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directors are responsible for the preparation of the financial statements and for being satisfied that
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they give a true and fair view. Our responsibility is to audit, and express an opinion on, the
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financial statements in accordance with applicable law and International Standards on Auditing (UK
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and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical
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Scope of the audit of the financial statements
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A description of the scope of an audit of financial statements is provided on the Financial Reporting
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Council's website at www.frc.org.uk/auditscopeukprivate.
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Opinion on financial statements
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In our opinion the financial statements:
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- give a true and fair view of the state of the company's affairs as at 30 June 2016 and of its loss
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for the period then ended;
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- have been properly prepared in accordance with UK Generally Accepted Accounting Practice
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applicable to Smaller Entities; and
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- have been prepared in accordance with the requirements of the Companies Act 2006.
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Opinion on other matters prescribed by the Companies Act 2006
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Based solely on the work required to be undertaken in the course of the audit of the financial
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statements and from reading the Directors' report:
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- we have not identified material misstatements in that report; and.
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- in our opinion, that report has been prepared in accordance with the Companies Act 2006.
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Matters on which we are required to report by exception
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We have nothing to report in respect of the following matters where the Companies Act 2006
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requires us to report to you if, in our opinion:
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- adequate accounting records have not been kept, or returns adequate for our audit have not
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been received from branches not visited by us; or
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- the financial statements are not in agreement with the accounting records and returns; or
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- certain disclosures of directors' remuneration specified by law are not made; or
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- we have not received all the information and explanations we require for our audit; or
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- the directors were not entitled to prepare the financial statements in accordance with the small
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companies regime, take advantages of the small companies exemption in preparing the directors'
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report and take advantage of the small companies exemption from the requirement to prepare a
|
Ian Borley (Senior Statutory Auditor)
|
for and on behalf of
KPMG LLP |
Statutory Auditor, Chartered Accountants |
|
Administrative expenses
|
(276,453
|
) |
|
|
OPERATING LOSS
|
(122,597
|
) |
|
|
Interest receivable and similar
income
|
3
|
320
|
|
|
|
LOSS BEFORE TAXATION
|
(122,277
|
) |
|
|
LOSS FOR THE FINANCIAL
PERIOD
|
(146,732
|
) |
|
|
Investment property
|
5
|
68,916,604
|
|
|
|
Debtors: amounts falling due within
one year
|
6
|
88,043
|
|
|
|
Amounts falling due within one year
|
7
|
(69,270,299
|
) |
|
|
NET CURRENT LIABILITIES
|
(69,063,236
|
) |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES
|
(146,632
|
) |
|
|
Called up share capital
|
100
|
|
|
|
Retained earnings
|
(146,732
|
) |
|
|
SHAREHOLDERS' FUNDS
|
(146,632
|
) |
|
The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
The financial statements were approved by the Board of Directors on
21 December 2016 and were
signed on its behalf by:
|
Issue of share capital
|
100
|
|
-
|
|
100
|
|
|
Total comprehensive income
|
-
|
|
(146,732
|
) |
(146,732
|
) |
|
Balance at 30 June 2016
|
100
|
|
(146,732
|
) |
(146,632
|
) |
|
|
Marlborough Property (Nbs 169) 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.
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|
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. |
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These financial statements were prepared in accordance with applicable United Kingdom
|
|
accounting standards, including Financial Reporting Standard 102 The Financial Reporting
|
|
Standard applicable in the UK and Republic of Ireland ("FRS 102") as issued in August
|
|
2014, and with the Companies Act 2006 (as applicable to companies subject to the small
|
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companies' regime). The changes to FRS 102 issued in September 2015 effective for
|
|
periods beginning on or after 1 January 2016 have been early adopted and therefore, as a
|
|
small company the financial statements have been prepared under section 1A the small
|
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entities regime of FRS 102.
|
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The financial statements have been prepared on the going concern basis, notwithstanding
|
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net liabilities of £146,632. The Company is a wholly owned subsidiary of WA Capital Limited
|
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who has given an undertaking to provide the necessary financial support for the Company to
|
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enable it to meet its liabilities as they fall due for the next twelve months and for the
|
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foreseeable future. As such the directors believe it is appropriate to prepare the financial
|
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statements on a going concern basis.
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Turnover is measured at the fair value of the consideration received or receivable, excluding
|
|
discounts, rebates, value added tax and other sales taxes.
|
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A revaluation in Investment property has not been recognised in the period, and remains to
|
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be held at cost. The directors believe this currently represents a fair value for the Investment
|
|
Deferred tax is recognised in respect of all timing differences that have originated but not
|
|
reversed at the balance sheet date.
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3.
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INTEREST RECEIVABLE AND SIMILAR INCOME
|
|
|
Bank Interest Received
|
320
|
|
|
4.
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AUDITORS' REMUNERATION
|
|
Auditor's remuneration has been recognised by the company's parent and sole shareholder
|
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Marlborough Property Co Limited. The costs recognised were for Marlborough Property Co
|
|
Limited and its subsidiaries at the time.
|
|
At 30 June 2016
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68,916,604
|
|
|
|
At 30 June 2016
|
68,916,604
|
|
|
6.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
7.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Amounts owed to group undertakings
|
68,975,534
|
|
|
|
Accruals and deferred income
|
265,500
|
|
|
|
The company has loans from its parent, Marlborough Property Co Limited which are
|
8.
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RELATED PARTY DISCLOSURES
|
|
The company was under the control of Marlborough Property Co Limited, a 100% subsidiary
|
|
of WA Capital Limited, through the current period. Mr W L Adderley is the managing director
|
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and majority shareholder of WA Capital Limited.
|
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As the company is a wholly owned subsidiary of WA Capital Limited, the company has taken
|
|
advantage of the exemption contained within Financial Reporting Standard 8 and has not
|
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disclosed transactions or balances with entities that form part of the group.
|