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REGISTERED NUMBER: SC250038 (Scotland)















Mark Garrick Ltd.

Financial Statements For The Year Ended 31 October 2023






Mark Garrick Ltd. (Registered number: SC250038)






Contents of the Financial Statements
For The Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mark Garrick Ltd.

Company Information
For The Year Ended 31 October 2023







DIRECTORS: Mr M Garrick
Miss J H Clarke



SECRETARY: Miss J H Clarke



REGISTERED OFFICE: Brookfield House
Birnie
Elgin
Moray
IV30 8SW



REGISTERED NUMBER: SC250038 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Virgin Money
161 Mid Street
Keith
Moray
AB55 5BL

Mark Garrick Ltd. (Registered number: SC250038)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,019,025 544,554
1,019,025 544,554

CURRENT ASSETS
Stocks 632,558 689,698
Debtors 6 580,226 411,197
Cash in hand 78 13
1,212,862 1,100,908
CREDITORS
Amounts falling due within one year 7 1,027,793 555,145
NET CURRENT ASSETS 185,069 545,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,204,094

1,090,317

CREDITORS
Amounts falling due after more than one
year

8

(77,684

)

(181,711

)

PROVISIONS FOR LIABILITIES 10 (238,497 ) (116,421 )
NET ASSETS 887,913 792,185

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 887,911 792,183
SHAREHOLDERS' FUNDS 887,913 792,185

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

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

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.

Mark Garrick Ltd. (Registered number: SC250038)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





Mr M Garrick - Director


Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements
For The Year Ended 31 October 2023

1. STATUTORY INFORMATION

Mark Garrick Ltd. is a private company, limited by shares , registered in Scotland. 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
Acquired goodwill was written off in equal annual instalments over its estimated useful economical life of 5 years as assessed by the director. It is now amortised in full.

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 and buildings - 10% on cost
Equipment - 33% on cost and 25% 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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 5,000
AMORTISATION
At 1 November 2022
and 31 October 2023 5,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 264,920 549,517 186,481 26,839 1,027,757
Additions 37,753 595,989 30,755 4,478 668,975
Disposals - - (61,799 ) - (61,799 )
At 31 October 2023 302,673 1,145,506 155,437 31,317 1,634,933
DEPRECIATION
At 1 November 2022 148,095 227,564 86,963 20,581 483,203
Charge for year 20,800 125,781 27,100 2,788 176,469
Eliminated on disposal - - (43,764 ) - (43,764 )
At 31 October 2023 168,895 353,345 70,299 23,369 615,908
NET BOOK VALUE
At 31 October 2023 133,778 792,161 85,138 7,948 1,019,025
At 31 October 2022 116,825 321,953 99,518 6,258 544,554

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 521,510 401,609
Other debtors 58,716 9,588
580,226 411,197

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 39,620 84,687
Hire purchase contracts 83,287 93,992
Trade creditors 657,551 56,748
Taxation and social security 39,361 135,614
Other creditors 207,974 184,104
1,027,793 555,145

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 18,333 28,333
Hire purchase contracts 59,351 153,378
77,684 181,711

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Hire purchase contracts 142,638 247,370

10. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 238,497 116,421

Deferred
tax
£   
Balance at 1 November 2022 116,421
Provided during year 122,076
Balance at 31 October 2023 238,497

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
2 Ordinary 1 2 2

12. RESERVES
Retained
earnings
£   

At 1 November 2022 792,183
Profit for the year 155,728
Dividends (60,000 )
At 31 October 2023 887,911

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2022 - £60,000) were paid to the directors .

As at 1 November 2022 the company owed the directors £167,282. During the year the company met expenditure amounting to £38,406 on behalf of the directors and the directors loaned the company £60,000. As at 31 October 2023 the company owed the directors £188,876. This loan is interest free and has no fixed terms of repayment.