MARS_ACQUISITION_LIMITED - Accounts

MARS ACQUISITION LIMITED - Company Information

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Company Registration No. 08522909 (England and Wales)

MARS ACQUISITION LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2015

MARS ACQUISITION LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MARS ACQUISITION LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Investments

147,963

180,100

Current assets

Debtors

811,252

670,100

Creditors: amounts falling due within one year

(407,311)

(850,000)

Net current assets/(liabilities)

403,941

(179,900)

Total assets less current liabilities

551,904

200

Capital and reserves

Called up share capital

200

Share premium account

551,704

Shareholders' funds

551,904

200

For the financial period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 December 2015

M Gilmour

Director

Company Registration No. 08522909

MARS ACQUISITION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The directors consider the company to be a going concern due to support from the parent and subsidiary companies for at least the next 12 months.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Investments

Cost

At 1 June 2014

180,100

Revaluation

(32,137)

At 31 March 2015

147,963

At 31 May 2014

180,100

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Mars Capital Finance Limited

England and Wales

Ordinary

100.00

Mars Capital Management Limited

England and Wales

Ordinary

100.00

MARS ACQUISITION LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2015

Fixed assets

(Continued)

- 3 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Mars Capital Finance Limited

Mortgage Servicing

227,812

197,812

Mars Capital Management Limited

Mortgage Servicing

587,947

687,144

Share capital

2015

2014

Allotted, called up and fully paid

10,000 Ordinary A shares of 1p each

100

10,000 Ordinary B shares of 1p each

100

200

The Ordinary A shares have no dividend or distribution rights other than the right to a return of nominal capital on a winding up of the company and no voting rights other than in respect of a variation of class rights of the Ordinary A shares.

The Ordinary B shares have attached to them full voting, dividend and capital distribution (including on winding up) rights. They do not confer any rights of redemption.