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REGISTERED NUMBER: 03240346 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Marionette Facilities Limited
Trading as
B.P. Insurance Brokers

Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marionette Facilities Limited
Trading as B.P. Insurance Brokers

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr B Pimlott
Mr C Pimlott





SECRETARY: Mr C Pimlott





REGISTERED OFFICE: Marionette House
73/75 Whitegate Drive
Blackpool
Lancashire
FY3 9DA





REGISTERED NUMBER: 03240346 (England and Wales)





ACCOUNTANTS: CCW Limited
Chartered Accountants
295/297 Church Street
Blackpool
Lancashire
FY1 3PJ

Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 344,824 367,691
Investment property 6 160,415 160,415
505,239 528,106

CURRENT ASSETS
Stocks 4,000 4,000
Debtors 7 979,278 672,411
Cash at bank 1,148,920 1,270,594
2,132,198 1,947,005
CREDITORS
Amounts falling due within one year 8 814,573 824,288
NET CURRENT ASSETS 1,317,625 1,122,717
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,822,864

1,650,823

PROVISIONS FOR LIABILITIES 23,310 26,589
NET ASSETS 1,799,554 1,624,234

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,798,554 1,623,234
SHAREHOLDERS' FUNDS 1,799,554 1,624,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 18 August 2022 and were signed on its behalf by:




Mr B Pimlott - Director



Mr C Pimlott - Director


Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

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

Turnover
Turnover represents commissions receivable which are taken to the credit of the profit and loss account on the later of the following dates:-

i. the date the invoice for insurance cover is issued to the insured party

ii. the date of the inception of the policy which is the start date of the
underwriters risk.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business on incorporation in 1997, is being written off evenly over its estimated useful life of fifteen years. Goodwill acquired during any particular year for small blocks of clients is written off in the year of acquisition.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Office furniture & equipment - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance
Computer equipment - 20% 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Insurance debtors and creditors
The company acts as agent in broking the insurable risks of clients and normally is not liable as a principal for premiums due to underwriters or for claims payable to clients. Not withstanding the legal relationship with clients and underwriters, the company has followed generally accepted accounting practice for insurance brokers by showing debtors, creditors and cash balances relating to insurance business as assets and liabilities of the company itself. This recognises that the company is entitled to retain the investment income on any cash flows arising from these transactions.

In the ordinary course of insurance broking business, settlement is required to be made with certain market settlement bureaux, insurance intermediaries or insurance companies on the basis of the net balance due to or from them rather than the amount due to or from the individual third parties which it represents.

However, under FRS 102 S2.52, assets and liabilities may not be offset unless required or permitted by an FRS, and therefore insurance broking debtors and creditors are shown gross within these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2020 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 299,111
AMORTISATION
At 1 January 2021
and 31 December 2021 299,111
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Office
Freehold furniture Fixtures Computer
property & equipment & fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 260,885 90,784 69,194 98,931 519,794
Additions - 5,231 3,928 6,638 15,797
Disposals - (26,504 ) - - (26,504 )
At 31 December 2021 260,885 69,511 73,122 105,569 509,087
DEPRECIATION
At 1 January 2021 26,088 39,802 31,757 54,456 152,103
Charge for year 5,218 6,967 6,204 10,223 28,612
Eliminated on disposal - (16,452 ) - - (16,452 )
At 31 December 2021 31,306 30,317 37,961 64,679 164,263
NET BOOK VALUE
At 31 December 2021 229,579 39,194 35,161 40,890 344,824
At 31 December 2020 234,797 50,982 37,437 44,475 367,691

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021
and 31 December 2021 160,415
NET BOOK VALUE
At 31 December 2021 160,415
At 31 December 2020 160,415

The fair value at the 31st December 2021 of the Investment Property acquired in August 2016 is currently deemed to be original cost.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 620,375 570,403
Other debtors 30,541 25,848
Directors' loan accounts 285,732 -
Tax - 28,249
Prepayments 42,630 47,911
979,278 672,411

Marionette Facilities Limited (Registered number: 03240346)
Trading as B.P. Insurance Brokers

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade creditors 669,176 693,518
Tax 44,849 32,058
Social security and other taxes 21,757 21,245
Directors' loan accounts - 84
Accrued expenses 78,791 77,383
814,573 824,288

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31.12.21 31.12.20
£    £   
Mr B Pimlott
Balance outstanding at start of year - 203,485
Amounts advanced 142,767 26,502
Amounts repaid - (229,987 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 142,767 -

Mr C Pimlott
Balance outstanding at start of year - 168,328
Amounts advanced 142,965 61,602
Amounts repaid - (229,930 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 142,965 -

The overdrawn Directors loan accounts at 31st December 2021 are detailed above.The loans have no fixed repayment terms and interest is being charged at HMRC rate applicable to beneficial loan arrangements, an average rate for the calendar year of 2.065%. The overdrawn Directors loan accounts were cleared by the voting of dividends in August 2022.