Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mrs A J Marsden 05/01/2005 Mrs E J Marsden-Wright 30/04/2019 12 September 2023 The principal activity of the company during the financial year is operating a hair and beauty salon. 05324580 2023-04-30 05324580 bus:Director1 2023-04-30 05324580 bus:Director2 2023-04-30 05324580 2022-04-30 05324580 core:CurrentFinancialInstruments 2023-04-30 05324580 core:CurrentFinancialInstruments 2022-04-30 05324580 core:Non-currentFinancialInstruments 2023-04-30 05324580 core:Non-currentFinancialInstruments 2022-04-30 05324580 core:ShareCapital 2023-04-30 05324580 core:ShareCapital 2022-04-30 05324580 core:RetainedEarningsAccumulatedLosses 2023-04-30 05324580 core:RetainedEarningsAccumulatedLosses 2022-04-30 05324580 core:Goodwill 2022-04-30 05324580 core:Goodwill 2023-04-30 05324580 core:LandBuildings 2022-04-30 05324580 core:FurnitureFittings 2022-04-30 05324580 core:OfficeEquipment 2022-04-30 05324580 core:LandBuildings 2023-04-30 05324580 core:FurnitureFittings 2023-04-30 05324580 core:OfficeEquipment 2023-04-30 05324580 bus:OrdinaryShareClass1 2023-04-30 05324580 2022-05-01 2023-04-30 05324580 bus:FullAccounts 2022-05-01 2023-04-30 05324580 bus:SmallEntities 2022-05-01 2023-04-30 05324580 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05324580 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05324580 bus:Director1 2022-05-01 2023-04-30 05324580 bus:Director2 2022-05-01 2023-04-30 05324580 core:Goodwill core:TopRangeValue 2022-05-01 2023-04-30 05324580 core:LandBuildings 2022-05-01 2023-04-30 05324580 core:FurnitureFittings 2022-05-01 2023-04-30 05324580 core:OfficeEquipment 2022-05-01 2023-04-30 05324580 2021-05-01 2022-04-30 05324580 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 05324580 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 05324580 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05324580 (England and Wales)

MARSDEN SW LTD

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

MARSDEN SW LTD

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

MARSDEN SW LTD

COMPANY INFORMATION

For the financial year ended 30 April 2023
MARSDEN SW LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTORS Mrs A J Marsden
Mrs E J Marsden-Wright
SECRETARIES Mr A J Marsden
Mr S J Marsden
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS 27 High Street, Totnes, TQ9 5NP
COMPANY NUMBER 05324580 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
MARSDEN SW LTD

BALANCE SHEET

As at 30 April 2023
MARSDEN SW LTD

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 69,977 71,968
69,977 71,968
Current assets
Stocks 18,000 17,000
Debtors 5 32,727 66,431
Cash at bank and in hand 6 35,204 73,211
85,931 156,642
Creditors: amounts falling due within one year 7 ( 86,219) ( 105,444)
Net current (liabilities)/assets (288) 51,198
Total assets less current liabilities 69,689 123,166
Creditors: amounts falling due after more than one year 8 ( 39,680) ( 58,335)
Provision for liabilities ( 10,650) ( 10,505)
Net assets 19,359 54,326
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 19,358 54,325
Total shareholders' funds 19,359 54,326

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Marsden SW Ltd (registered number: 05324580) were approved and authorised for issue by the Board of Directors on 12 September 2023. They were signed on its behalf by:

Mrs A J Marsden
Director
MARSDEN SW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
MARSDEN SW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Marsden SW Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Sigma House,
Oak View Close,
Edginswell Park,
Torquay,
TQ2 7FF,
United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax. The company recognises revenue based on it's value of the goods and services provided to date.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below.

Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 18 21

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2022 132,000 132,000
At 30 April 2023 132,000 132,000
Accumulated amortisation
At 01 May 2022 132,000 132,000
At 30 April 2023 132,000 132,000
Net book value
At 30 April 2023 0 0
At 30 April 2022 0 0

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 May 2022 99,770 35,080 5,540 140,390
Additions 620 532 4,205 5,357
At 30 April 2023 100,390 35,612 9,745 145,747
Accumulated depreciation
At 01 May 2022 46,496 19,411 2,515 68,422
Charge for the financial year 5,391 1,620 337 7,348
At 30 April 2023 51,887 21,031 2,852 75,770
Net book value
At 30 April 2023 48,503 14,581 6,893 69,977
At 30 April 2022 53,274 15,669 3,025 71,968

5. Debtors

2023 2022
£ £
Amounts owed by directors 25,720 56,263
Prepayments 2,682 7,171
Other debtors 4,325 2,997
32,727 66,431

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 35,204 73,211

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 19,320 18,182
Trade creditors 9,509 19,832
Accruals 3,610 3,705
Taxation and social security 32,030 38,082
Other creditors 21,750 25,643
86,219 105,444

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 39,680 58,335

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each 1 1

10. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £384,000 (2022 - £408,000). The financial commitment is in relation to the rent on leasehold property.

11. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
25,720 56,263

Advances were made to the directors for £56,871. Interest has been charged at the HMRC official rate of 2%. £87,414 has been repaid in the year.

12. Government grants

During the year the company received the following government grants:

- £Nil Coronavirus Support

The amount of grants recognised in the financial statements was £Nil (2022 - £12,000).