Company registration number 04772274 (England and Wales)
M D MARSHALL & CO (NOTTINGHAM) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
M D MARSHALL & CO (NOTTINGHAM) LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
M D MARSHALL & CO (NOTTINGHAM) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
3,200
Tangible assets
4
-
0
168
-
0
3,368
Current assets
Debtors
5
74,866
62,587
Cash at bank and in hand
71,194
146,599
146,060
209,186
Creditors: amounts falling due within one year
6
(94,732)
(190,731)
Net current assets
51,328
18,455
Net assets
51,328
21,823
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
51,228
21,723
Total equity
51,328
21,823

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 27 October 2023
Mr M D Marshall
Director
Company Registration No. 04772274
M D MARSHALL & CO (NOTTINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

M D Marshall & Co (Nottingham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, Butt Dyke House, 33 Park Row, Nottingham, NG1 6EE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Franchise
10% on cost
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

M D MARSHALL & CO (NOTTINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Equity instruments

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

M D MARSHALL & CO (NOTTINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Other
£
Cost
At 1 April 2022
8,000
Disposals
(8,000)
At 31 March 2023
-
0
Amortisation and impairment
At 1 April 2022
4,800
Amortisation charged for the year
800
Disposals
(5,600)
At 31 March 2023
-
0
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
3,200
M D MARSHALL & CO (NOTTINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
3,862
Disposals
(3,862)
At 31 March 2023
-
0
Depreciation and impairment
At 1 April 2022
3,694
Depreciation charged in the year
42
Eliminated in respect of disposals
(3,736)
At 31 March 2023
-
0
Carrying amount
At 31 March 2023
-
0
At 31 March 2022
168
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
11,994
61,194
Other debtors
62,747
1,268
Prepayments and accrued income
125
125
74,866
62,587
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15,150
34,879
Corporation tax
18,223
379
Other taxation and social security
-
0
6,648
Other creditors
52,309
139,985
Accruals and deferred income
9,050
8,840
94,732
190,731
M D MARSHALL & CO (NOTTINGHAM) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
8
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for it's managed office. Leases are negotiated for an average term of 3 months and rentals are fixed for an average of 3 months with an option to extend for a further 3 months at the prevailing market rate.

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