Registered number
13832847
Marvel Transport Ltd
Filleted Accounts
31 January 2024
Marvel Transport Ltd
Registered number: 13832847
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,096 1,462
Current assets
Debtors 4 170,891 96,853
Cash at bank and in hand 58,791 57,152
229,682 154,005
Creditors: amounts falling due within one year 5 (230,101) (155,166)
Net current liabilities (419) (1,161)
Net assets 677 301
Capital and reserves
Called up share capital 1 1
Profit and loss account 676 300
Shareholders' funds 677 301
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Parker
Director
Approved by the board on 7 March 2024
Marvel Transport Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Equipment, fixtures and fittings over 5 years
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment fixtures & fittings
£
Cost
At 1 February 2023 1,828
At 31 January 2024 1,828
Depreciation
At 1 February 2023 366
Charge for the year 366
At 31 January 2024 732
Net book value
At 31 January 2024 1,096
At 31 January 2023 1,462
4 Debtors 2024 2023
£ £
Trade debtors 114,625 94,687
Other debtors 56,266 2,166
170,891 96,853
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 95,209 59,964
Taxation and social security costs 37,489 12,689
Other creditors 97,403 82,513
230,101 155,166
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr T Parker
Directors Loan 2,165 249,677 (196,601) 55,241
2,165 249,677 (196,601) 55,241
7 Controlling party
The company is controlled by Mr T Parker by virtue of his shareholding.
8 Other information
Marvel Transport Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton on Trent
Staffordshire
DE14 1DU
Marvel Transport Ltd 13832847 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts October 2023 Mr T Parker No description of principal activity 13832847 2022-02-01 2023-01-31 13832847 core:WithinOneYear 2023-01-31 13832847 core:ShareCapital 2023-01-31 13832847 core:RetainedEarningsAccumulatedLosses 2023-01-31 13832847 2023-02-01 2024-01-31 13832847 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13832847 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13832847 bus:Director40 2023-02-01 2024-01-31 13832847 1 2023-02-01 2024-01-31 13832847 2 2023-02-01 2024-01-31 13832847 core:PlantMachinery 2023-02-01 2024-01-31 13832847 bus:Director1 2023-02-01 2024-01-31 13832847 bus:Director1 1 2023-02-01 2024-01-31 13832847 countries:England 2023-02-01 2024-01-31 13832847 bus:FRS102 2023-02-01 2024-01-31 13832847 bus:FullAccounts 2023-02-01 2024-01-31 13832847 2024-01-31 13832847 core:WithinOneYear 2024-01-31 13832847 core:ShareCapital 2024-01-31 13832847 core:RetainedEarningsAccumulatedLosses 2024-01-31 13832847 core:PlantMachinery 2024-01-31 13832847 bus:Director1 1 2024-01-31 13832847 2023-01-31 13832847 core:PlantMachinery 2023-01-31 13832847 bus:Director1 1 2023-01-31 iso4217:GBP xbrli:pure