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REGISTERED NUMBER: 06634263 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Marcus Reddy Ltd

Marcus Reddy Ltd (Registered number: 06634263)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marcus Reddy Ltd

Company Information
for the year ended 31 July 2023







DIRECTORS: Dr N Grewal
Mr K M Reddy





REGISTERED OFFICE: 8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR





REGISTERED NUMBER: 06634263 (England and Wales)





ACCOUNTANTS: KPSK Accounts and Tax Limited
8 Manor Park
Church Road
Gt Barton
Bury St Edmunds
Suffolk
IP31 2QR

Marcus Reddy Ltd (Registered number: 06634263)

Balance Sheet
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 16,680 40,073
16,680 40,073

CURRENT ASSETS
Debtors 6 2,752,669 2,848,556
Cash at bank 2,246,080 1,790,538
4,998,749 4,639,094
CREDITORS
Amounts falling due within one year 7 347,851 302,649
NET CURRENT ASSETS 4,650,898 4,336,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,667,578

4,376,518

PROVISIONS FOR LIABILITIES 9,022 9,022
NET ASSETS 4,658,556 4,367,496

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,658,554 4,367,494
4,658,556 4,367,496

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Marcus Reddy Ltd (Registered number: 06634263)

Balance Sheet - continued
31 July 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 13 February 2024 and were signed on its behalf by:




Mr K M Reddy - Director



Dr N Grewal - Director


Marcus Reddy Ltd (Registered number: 06634263)

Notes to the Financial Statements
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Marcus Reddy 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 2008, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

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 2 (2022 - 2 ) .

Marcus Reddy Ltd (Registered number: 06634263)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 183,890
AMORTISATION
At 1 August 2022
and 31 July 2023 183,890
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 3,767 3,697 107,930 17,911 133,305
Additions - - - 4,516 4,516
At 31 July 2023 3,767 3,697 107,930 22,427 137,821
DEPRECIATION
At 1 August 2022 3,767 3,176 68,339 17,950 93,232
Charge for year - 521 26,981 407 27,909
At 31 July 2023 3,767 3,697 95,320 18,357 121,141
NET BOOK VALUE
At 31 July 2023 - - 12,610 4,070 16,680
At 31 July 2022 - 521 39,591 (39 ) 40,073

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors 43,041 57,608
Other debtors (4,741 ) (3,441 )
Inter-company loan 2,685,160 2,770,160
Prepayments 29,209 24,229
2,752,669 2,848,556

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors 4,654 4,653
Tax 211,708 166,507
Other creditors 130,049 130,049
Accrued expenses 1,440 1,440
347,851 302,649