Marvel Motorcycles Limited Filleted Accounts Cover
Marvel Motorcycles Limited
Company No. 08274296
Information for Filing with The Registrar
31 October 2022
Marvel Motorcycles Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 October 2022.
Principal activities
The principal activity of the company during the year under review was the sale of secondhand motorcycles, associated goods and repairs.
Director
The Director who served at any time during the year was as follows:
V. Bunn
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
V. Bunn
Director
18 October 2023
Marvel Motorcycles Limited Balance Sheet Registrar
at
31 October 2022
Company No.
08274296
Notes
2022
2021
£
£
Fixed assets
Tangible assets
4
1,9321,753
1,9321,753
Current assets
Debtors
5
1,7115,102
Cash at bank and in hand
16,46625,802
18,17730,904
Creditors: Amount falling due within one year
6
(39,202)
(46,176)
Net current liabilities
(21,025)
(15,272)
Total assets less current liabilities
(19,093)
(13,519)
Net liabilities
(19,093)
(13,519)
Capital and reserves
Called up share capital
22
Profit and loss account
8
(19,095)
(13,521)
Total equity
(19,093)
(13,519)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 18 October 2023
And signed on its behalf by:
V. Bunn
Director
18 October 2023
Marvel Motorcycles Limited Notes to the Accounts Registrar
for the year ended 31 October 2022
1
General information
Its registered number is: 08274296
Its registered office is:
Unit 7 Dutton Farm
Bangors Road South
Iver
Bucks
SL0 0AY
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3
Employees
2022
2021
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost or revaluation
At 1 November 2021
2,0009,5782,29613,874
Additions
--825825
At 31 October 2022
2,0009,5783,12114,699
Depreciation
At 1 November 2021
1,8508,6191,65212,121
Charge for the year
38240368646
At 31 October 2022
1,8888,8592,02012,767
Net book values
At 31 October 2022
1127191,1011,932
At 31 October 2021
150
959
644
1,753
5
Debtors
2022
2021
£
£
Other debtors
1,7115,102
1,7115,102
6
Creditors:
amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
36,72140,604
Taxes and social security
1,281
1,880
Loans from directors
-1,831
Accruals and deferred income
1,2001,861
39,20246,176
7
Share Capital
Two ordinary shares of £1.00 each fully paid
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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