Registered number
04131109
FM Marble Limited
Filleted Accounts
31 January 2023
FM Marble Limited
Registered number: 04131109
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 214,196 153,507
Current assets
Stocks 28,000 41,000
Debtors 4 33,572 88,666
Cash at bank and in hand 88,409 79,459
149,981 209,125
Creditors: amounts falling due within one year 5 (108,262) (162,647)
Net current assets 41,719 46,478
Total assets less current liabilities 255,915 199,985
Creditors: amounts falling due after more than one year 6 (85,025) (50,930)
Provisions for liabilities (2,613) (2,613)
Net assets 168,277 146,442
Capital and reserves
Called up share capital 90 90
Profit and loss account 168,187 146,352
Shareholders' funds 168,277 146,442
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M A Mather
Director
Approved by the board on 14 October 2023
FM Marble Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 164,833 452,694 617,527
Additions - 117,000 117,000
Disposals - (92,700) (92,700)
At 31 January 2023 164,833 476,994 641,827
Depreciation
At 1 February 2022 42,381 421,639 464,020
Charge for the year 4,709 51,602 56,311
On disposals - (92,700) (92,700)
At 31 January 2023 47,090 380,541 427,631
Net book value
At 31 January 2023 117,743 96,453 214,196
At 31 January 2022 122,452 31,055 153,507
4 Debtors 2023 2022
£ £
Trade debtors 33,572 76,966
Other debtors - 11,700
33,572 88,666
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 44,011 21,348
Trade creditors 45,426 88,127
Taxation and social security costs 13,774 49,780
Other creditors 5,051 3,392
108,262 162,647
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 85,025 50,930
7 Other information
FM Marble Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Sandiford Road
Kimpton Road Industrial Estate
Sutton
Surrey SM3 9RN
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