Registration number:
Marshall Carpentry Services Ltd
for the Year Ended 31 May 2023
Marshall Carpentry Services Ltd
Contents
Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Marshall Carpentry Services Ltd
Company Information
Directors |
Mr D Marshall Mrs S Marshall |
Registered office |
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Marshall Carpentry Services Ltd
Directors' Report for the Year Ended 31 May 2023
The directors present their report and the financial statements for the year ended 31 May 2023.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is general carpentry and building services.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Mr D Marshall
Director
Marshall Carpentry Services Ltd
(Registration number: 09571986)
Balance Sheet as at 31 May 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
62,351 |
37,960 |
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Shareholders' funds |
62,451 |
38,060 |
For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Marshall Carpentry Services Ltd
(Registration number: 09571986)
Balance Sheet as at 31 May 2023
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Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal place of business is:
28 Anderson Road
Stevenage
Hertfordshire
SG2 0LW
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
The company acquired a loan under the Bounce Back loan scheme (BBLS) last period, which is managed by the British Business Bank on behalf of, and with the financial backing of, the secretary of state for business, energy and industrial strategy.
Tax
The tax expense for the period comprises current and deferred tax Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
33% Reducing Balance |
Motor Vehicles |
20% Reducing Balance |
Tools and Equipment |
20% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Trade debtors are reviewed for bad debts on a quarterly basis, any adjustments are made accordingly through the profit and loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Tangible assets |
Office equipment |
Motor vehicles |
Tools and equipment |
Total |
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Cost or valuation |
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At 1 June 2022 |
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- |
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Additions |
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At 31 May 2023 |
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Depreciation |
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At 1 June 2022 |
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- |
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Charge for the year |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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- |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Included in loans under one year is £7,093 and in loans due over one year is £647 relating to a loan acquired under the Bounce Back Loan Scheme (BBLS) which is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy.
During the period, included within bank loans and borrowings due under one year is £3,182 and over one year £12,504 relating to a Hire Purchase loan, secured on the asset financed.
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Marshall Carpentry Services Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Dividends |
2023 |
2022 |
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£ |
£ |
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Interim dividend of £ |
138,500 |
59,500 |
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Related party transactions |
At the balance sheet date, the directors, Mr & Mrs Marshall were owed £4 by the company (2022: £-9,805). This loan is provided interest free and repayable on demand.
Ultimate controlling party |
The ultimate controlling party is
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Finance lease liabilities |
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- |
Other borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Finance lease liabilities |
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- |
Other borrowings |
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