REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2021 |
for |
MAN Marshal Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2021 |
for |
MAN Marshal Limited |
MAN Marshal Limited (Registered number: 09702145) |
Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MAN Marshal Limited |
Company Information |
for the Year Ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
50 Osmaston Road |
Derby |
DE1 2HU |
MAN Marshal Limited (Registered number: 09702145) |
Balance Sheet |
31 December 2021 |
2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
MAN Marshal Limited (Registered number: 09702145) |
Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
1. | STATUTORY INFORMATION |
MAN Marshal Limited is a |
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. |
The Company's ultimate parent undertaking, Pon Holdings B.V., includes the Company in its consolidated financial statements. The consolidated financial statements of Pon Holdings B.V. are prepared in accordance with Dutch GAAP and are available to the public and may be obtained from Pon Holdings B.V., Stadionplein 28, 1076 CM AMSTERDAM or Postbus 71062, 1008 BB Amsterdam, Netherlands. |
Going concern |
The directors consider that the current outlook presents a significant challenge in terms of whether new sales contracts are to be developed and whether the subsidiary's business fits into the group's activities and future plans. |
The directors have concluded that the combination of these circumstances represents a material uncertainty that casts significant doubt upon the company's ability to continue as a going concern and that, therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business. Nevertheless, after making enquiries and considering the uncertainties described above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions within the group as it is a wholly owned subsidiary. |
Significant judgements and estimates |
The preparation of the financial statements requires management to make judgement, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from the estimates. The following judgements have had the most significant effect on amounts recognised in the financial statements:- |
Brexit |
The UK's departure from the EU caused disruption to and created uncertainty around the business. |
The UK's future trading relationship with the EU is still developing and the directors continue to assess and monitor the potential risks and impacts on MAN Marshal Limited's customers and major stakeholders, whilst taking appropriate mitigation measures to address challenges including logistics, staff and supply. |
Turnover |
Turnover represents amounts derived from intercompany commission after deduction of discounts and VAT. Turnover arises solely within the United Kingdom. |
MAN Marshal Limited (Registered number: 09702145) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable and loans to and from related parties. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price plus attributable transaction costs. |
Taxation |
The charge for taxation is based on the result for the year and takes into account taxation deferred because of timing differences between the treatment of certain items for taxation and accounting purposes. |
Foreign currencies |
Transactions in foreign currencies are translated to the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are retranslated to the functional currency at foreign exchange rates ruling at the dates the fair value was determined. Foreign exchange differences arising on translation are recognised in the profit and loss account. |
Pension costs |
Defined contribution plans |
A defined contribution plan is a post-employment benefit plan under which the company pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution pension plans are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
MAN Marshal Limited (Registered number: 09702145) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary shares | 1 | 100 | 100 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | DIRECTORS' REMUNERATION |
Directors' emoluments have been borne by another group company. The directors of the company are also directors or officers of other companies within the group. The directors' services to the company do not occupy a significant amount of their time. As such the directors do not consider that they have received any remuneration for their incidental services to the company for the periods ended 31 December 2021 and 31 December 2020. |
9. | ULTIMATE PARENT COMPANY |
The Company is a subsidiary undertaking of Geveke N.V. The ultimate controlling party is Pon Holdings B.V. |
The largest group in which the results of the Company are consolidated is that headed by Pon Holdings B.V., incorporated in the Netherlands. No other group financial statements include the results of the Company. The consolidated financial statements of Pon Holdings B.V. are available to the public and may be obtained from Pon Holdings B.V., Stadionplein 28, 1076 CM AMSTERDAM or Postbus 71062, 1008 BB AMSTERDAM, Netherlands. |