Registered number
01993208
J E Marsland Ltd
Filleted Accounts
28 February 2023
J E Marsland Ltd
Registered number: 01993208
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 198 198
Tangible assets 4 133,552 146,515
133,750 146,713
Current assets
Stocks 2,980 130
Debtors 5 132,706 72,868
Cash at bank and in hand 278,055 657,072
413,741 730,070
Creditors: amounts falling due within one year 6 (115,319) (347,497)
Net current assets 298,422 382,573
Net assets 432,172 529,286
Capital and reserves
Called up share capital 138 138
Profit and loss account 432,034 529,148
Shareholders' funds 432,172 529,286
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.
J E Marsland
Director
Approved by the board on 16 October 2023
J E Marsland Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 & buildings, 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% pa reducing balance
Fixtures, fittings, tools and equipment 25% pa 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Formation Cost:
Cost
At 1 March 2022 198
At 28 February 2023 198
Amortisation
At 28 February 2023 -
Net book value
At 28 February 2023 198
At 28 February 2022 198
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2022 72,872 400,157 76,223 549,252
Additions - 1,509 - 1,509
At 28 February 2023 72,872 401,666 76,223 550,761
Depreciation
At 1 March 2022 - 370,954 31,783 402,737
Charge for the year - 3,352 11,120 14,472
At 28 February 2023 - 374,306 42,903 417,209
Net book value
At 28 February 2023 72,872 27,360 33,320 133,552
At 28 February 2022 72,872 29,203 44,440 146,515
5 Debtors 2023 2022
£ £
Trade debtors 132,706 72,868
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 106,923 171,153
Taxation and social security costs 2,447 1,294
Other creditors 5,949 175,050
115,319 347,497
7 Other information
J E Marsland Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Salt Pie Farm
Whitehough
Chinley
High Peak
SK23 6BX
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