REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
Marshaw Developments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
Marshaw Developments Limited |
Marshaw Developments Limited (Registered number: 10716912) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Marshaw Developments Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
316 Blackpool Road |
Fulwood |
Preston |
Lancashire |
PR2 3AE |
Marshaw Developments Limited (Registered number: 10716912) |
Statement of Financial Position |
30 April 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
Marshaw Developments Limited (Registered number: 10716912) |
Statement of Financial Position - continued |
30 April 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Marshaw Developments Limited (Registered number: 10716912) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Marshaw Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
At the balance sheet date the company had net liabilities of £106,889 (2022: net liabilities of £161,450). The directors continue to assess the position and prospects for the company based on its land bank and ongoing developments. |
The second biggest creditor at the year end was monies owed to a director and she has confirmed that she is committed to ensuring that the company can continue to meet its liabilities as they fall due. External funding is secured as required, with appropriate finance partners. |
For these reasons the directors are satisfied that the going concern basis of preparing the accounts is appropriate. |
Turnover |
Turnover us recognised when the performance obligation associated with the sale is completed. The sales price comprises the fair value of the consideration received or receivable, net of VAT, rebates and discounts. |
Housing and land sales are recognised as sales when control in transferred to the customer. This is when title of the property passes on legal completion. |
Tangible fixed assets |
Plant and machinery etc | - |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. |
Stocks and work in progress |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Costs include land purchases which are recognised in work in progress at cost when the significant risks and rewards of ownership have been transferred to the company. Other costs included in work in progress include direct materials, direct labour and overheads that have been incurred in bringing the land and developments to the present location and condition. |
Marshaw Developments Limited (Registered number: 10716912) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 May 2022 |
Additions |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
VAT |
Prepayments |
Marshaw Developments Limited (Registered number: 10716912) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other loans |
PMJ Capital-Loan | 1,011,840 | 468,820 |
Intercompany Loan | 2,500 | 4,000 |
Hire purchase contracts |
Trade creditors |
Other creditors |
Credit Card | 2,579 | 9,476 |
PAYE Payable | - | 198 |
Directors' loan accounts | 863,899 | 864,674 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other loans - 1-2 years | 5,556 | 5,556 |
Other loans - 2-5 years | 28,704 | 34,259 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 30.4.22 |
£ | £ |
Bounce Back Loan Scheme | 39,815 | 45,370 |
The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from Barclays Bank PLC in the year. |