2022-04-012023-03-312023-03-31false08451425ANDREW MARKS UPHOLSTERY SERVICES 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ANDREW MARKS UPHOLSTERY SERVICES LTD

Registered Number
08451425
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

ANDREW MARKS UPHOLSTERY SERVICES LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

Tanya Clare Gabb
Andrew Thomas Marks

Registered Address

C/O Businessvision Unit 4, Sandy Court, Ashleigh Way
Plympton
Plymouth
PL7 5JX

Registered Number

08451425 (England and Wales)
ANDREW MARKS UPHOLSTERY SERVICES LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets612,57612,738
12,57612,738
Current assets
Stocks81,5001,250
Debtors97,76112,900
Cash at bank and on hand28,99224,526
38,25338,676
Creditors amounts falling due within one year10(28,689)(38,392)
Net current assets (liabilities)9,564284
Total assets less current liabilities22,14013,022
Creditors amounts falling due after one year11(9,016)(14,105)
Provisions for liabilities13(1,897)-
Net assets11,227(1,083)
Capital and reserves
Called up share capital100100
Profit and loss account11,127(1,183)
Shareholders' funds11,227(1,083)
The financial statements were approved and authorised for issue by the Board of Directors on 19 June 2023, and are signed on its behalf by:
Andrew Thomas Marks
Director
Registered Company No. 08451425
ANDREW MARKS UPHOLSTERY SERVICES LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery6-
Vehicles-12
Office Equipment-5
Intangible assets policy
Intangible fixed assets are carried at cost less accumulated and impairment losses.
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year33
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2230,00030,000
At 31 March 2330,00030,000
Amortisation and impairment
At 01 April 2230,00030,000
At 31 March 2330,00030,000
Net book value
At 31 March 23--
At 31 March 22--
6.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 223,44410,5472,33616,327
Additions930-2081,138
At 31 March 234,37410,5472,54417,465
Depreciation and impairment
At 01 April 222121,7581,6193,589
Charge for year2508791711,300
At 31 March 234622,6371,7904,889
Net book value
At 31 March 233,9127,91075412,576
At 31 March 223,2328,78971712,738
7.Description of nature of transactions and balances with related parties
At the end of the year the Director, Mr Andrew Marks was owed £4,981.51 (2022:- £6,630.91)
8.Stocks

2023

2022

££
Raw materials and consumables1,5001,250
Total1,5001,250
9.Debtors

2023

2022

££
Trade debtors / trade receivables6,93712,384
Other debtors824516
Total7,76112,900
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables732-
Bank borrowings and overdrafts3,0002,500
Taxation and social security16,53824,449
Finance lease and HP contracts1,5891,589
Other creditors6,8309,854
Total28,68938,392
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts6,50010,000
Other creditors2,5164,105
Total9,01614,105
12.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts2,5164,105
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,897-
Total1,897-