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REGISTERED NUMBER: 04639053 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MARSTEL LTD

MARSTEL LTD (REGISTERED NUMBER: 04639053)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARSTEL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Ms S Y Hajiyianni





REGISTERED OFFICE: 501 Tavistock Road
Roborough
Plymouth
Devon
PL6 7AA





REGISTERED NUMBER: 04639053 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

MARSTEL LTD (REGISTERED NUMBER: 04639053)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,887 23,495
Tangible assets 5 30,737 30,938
44,624 54,433

CURRENT ASSETS
Stocks 6 3,580 3,650
Debtors 7 3,500 4,159
Cash at bank and in hand 9,875 26,722
16,955 34,531
CREDITORS
Amounts falling due within one year 8 43,045 34,493
NET CURRENT (LIABILITIES)/ASSETS (26,090 ) 38
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,534

54,471

CREDITORS
Amounts falling due after more than one
year

9

36,972

52,972
NET (LIABILITIES)/ASSETS (18,438 ) 1,499

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings (18,538 ) 1,399
SHAREHOLDERS' FUNDS (18,438 ) 1,499

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

MARSTEL LTD (REGISTERED NUMBER: 04639053)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2023 and were signed by:





Ms S Y Hajiyianni - Director


MARSTEL LTD (REGISTERED NUMBER: 04639053)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Marstel Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & Buildings - Over the term of lease
Fixtures, fittings & equipment - 10% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MARSTEL LTD (REGISTERED NUMBER: 04639053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Government grants
Government grants represents income received in the form of the Job Retention Scheme (JRS), small business grant fund (SBGF) and the retail, hospitality and leisure grant fund (RHLG) received from the Government during the COVID-19 pandemic. The Government Grant also represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 192,150
AMORTISATION
At 1 April 2022 168,655
Amortisation for year 9,608
At 31 March 2023 178,263
NET BOOK VALUE
At 31 March 2023 13,887
At 31 March 2022 23,495

MARSTEL LTD (REGISTERED NUMBER: 04639053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures,
Land & fittings Motor
Buildings & equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2022 13,850 72,709 20,729 107,288
Additions - 3,823 - 3,823
At 31 March 2023 13,850 76,532 20,729 111,111
DEPRECIATION
At 1 April 2022 13,434 45,656 17,260 76,350
Charge for year 416 3,088 520 4,024
At 31 March 2023 13,850 48,744 17,780 80,374
NET BOOK VALUE
At 31 March 2023 - 27,788 2,949 30,737
At 31 March 2022 416 27,053 3,469 30,938

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 3,580 3,650

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Prepayments 3,500 4,159

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 10) 12,137 -
Trade creditors 20,423 19,866
Tax - 8,512
VAT 8,285 3,915
Accrued expenses 2,200 2,200
43,045 34,493

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 10) 36,972 52,972

MARSTEL LTD (REGISTERED NUMBER: 04639053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 12,137 -

Amounts falling due between one and two years:
Bank loans-more than one year 4,626 10,925

Amounts falling due between two and five years:
Bank loans - 2-5 years 32,346 42,047

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 36,972 52,972

The bank loans, with the exception of Bounce Back loan, are secured by a personal guarantee and charge given by the director.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms S Y Hajiyianni.