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REGISTERED NUMBER: 06606181 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MARXTAR LTD

MARXTAR LTD (REGISTERED NUMBER: 06606181)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARXTAR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: M McGinn
B McGinn





SECRETARY: B McGinn





REGISTERED OFFICE: The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN





REGISTERED NUMBER: 06606181 (England and Wales)





ACCOUNTANTS: Haines Watts
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

MARXTAR LTD (REGISTERED NUMBER: 06606181)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 20,211 48,633

CURRENT ASSETS
Debtors 5 872,841 854,147
Cash at bank 107,993 311,389
980,834 1,165,536
CREDITORS
Amounts falling due within one year 6 518,591 613,685
NET CURRENT ASSETS 462,243 551,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

482,454

600,484

CREDITORS
Amounts falling due after more than one
year

7

(98,000

)

(149,114

)

PROVISIONS FOR LIABILITIES (5,053 ) (12,158 )
NET ASSETS 379,401 439,212

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings 379,201 439,012
SHAREHOLDERS' FUNDS 379,401 439,212

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

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

MARXTAR LTD (REGISTERED NUMBER: 06606181)

BALANCE SHEET - continued
31 MAY 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 and authorised for issue by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





M McGinn - Director


MARXTAR LTD (REGISTERED NUMBER: 06606181)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Marxtar 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant and machinery25% reducing balance
Motor vehicles25% reducing balance
Fixtures and fittings25% reducing balance

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


MARXTAR LTD (REGISTERED NUMBER: 06606181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

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 16 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 June 2022 8,244 5,295 133,723 147,262
Additions 2,240 - 2,827 5,067
Disposals (3,222 ) - (118,396 ) (121,618 )
At 31 May 2023 7,262 5,295 18,154 30,711
DEPRECIATION
At 1 June 2022 1,970 656 96,003 98,629
Charge for year 1,958 1,160 9,357 12,475
Eliminated on disposal (1,917 ) - (98,687 ) (100,604 )
At 31 May 2023 2,011 1,816 6,673 10,500
NET BOOK VALUE
At 31 May 2023 5,251 3,479 11,481 20,211
At 31 May 2022 6,274 4,639 37,720 48,633

MARXTAR LTD (REGISTERED NUMBER: 06606181)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 139,027 190,233
Other debtors 733,814 663,914
872,841 854,147

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 49,000 46,886
Trade creditors 41,322 49,993
Taxation and social security 65,405 92,152
Other creditors 362,864 424,654
518,591 613,685

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 98,000 149,114

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 147,000 196,000

The bank have a fixed and floating charge over the company assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary £1 200 200