MARLINGS FINANCIAL SERVICES LIMITED - Limited company accounts 23.2

REGISTERED NUMBER: 12795163 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

MARLINGS FINANCIAL SERVICES LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

J A Miller

Mrs J L Miller

REGISTERED OFFICE:

The Annexe, Minerva House,

Bordyke'

Tonbridge,

Kent

TN9 1NR

REGISTERED NUMBER:

12795163 (England and Wales)

ACCOUNTANTS:

Bennett & Co

The Annexe

Minerva House

Bordyke

Tonbridge

Kent

TN9 1NR

The directors present their report with the financial statements of the company for the year ended 31 August 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Financial Consultants.

DIVIDENDS

An interim dividend of £90 per share was paid on 24 February 2023. The directors recommend a final dividend of £90 per share, making a total of £180 per share for the year ended 31 August 2023.

The total distribution of dividends for the year ended 31 August 2023 will be £ 18,000 .

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2022 to the date of this report.

J A Miller

Mrs J L Miller

ON BEHALF OF THE BOARD:

J A Miller - Director

4 September 2023

TURNOVER

19,000

58,069

Administrative expenses

13,930

22,980

OPERATING PROFIT and

PROFIT BEFORE TAXATION

5,070

35,089

Tax on profit

4

955

6,689

PROFIT FOR THE FINANCIAL YEAR

4,115

28,400

CURRENT ASSETS

Cash at bank

11,509

64,255

CREDITORS

Amounts falling due within one year

6

2,986

41,847

NET CURRENT ASSETS

8,523

22,408

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,523

22,408

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

8

8,423

22,308

SHAREHOLDERS' FUNDS

8,523

22,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2023 and were signed on its behalf by:

J A Miller - Director

Mrs J L Miller - Director

1.	STATUTORY INFORMATION

MARLINGS FINANCIAL SERVICES 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

3.	EMPLOYEES AND DIRECTORS

31.8.23

31.8.22

£

Wages and salaries

9,400

14,400

The average number of employees during the year was as follows:

31.8.23

31.8.22

Management

2

31.8.23

31.8.22

£

Directors' remuneration

6,400

9,000

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.8.23

31.8.22

£

Current tax:

UK corporation tax

963

6,675

Taxation Adjustment

in respect of previous year

(8

)

14

Tax on profit

955

6,689

UK corporation tax has been charged at 19% (2022 - 19%).

5.

DIVIDENDS

31.8.23

31.8.22

£

Ordinary Shares shares of £1 each

Final

9,000

5,000

Interim

9,000

5,000

18,000

10,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

Corporation Tax

963

6,674

Directors Loan Account

943

34,093

Accrued Expenses

1,080

2,986

41,847

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

100

Ordinary Shares

£1

100

8.

RESERVES

Retained

earnings

£

At 1 September 2022

22,308

Profit for the year

4,115

Dividends

(18,000

)

At 31 August 2023

8,423