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REGISTERED NUMBER: 03149404 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

MARKS BUILDING SERVICES LIMITED

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARKS BUILDING SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr M Isaac



SECRETARY: Mrs T G Rees



REGISTERED OFFICE: The Willows
126 Torquay Road
Paignton
Devon
TQ3 2AH



REGISTERED NUMBER: 03149404 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Barclays
6/8 Palace Avenue
Paignton
Devon
TQ3 3ET

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,052 45,622

CURRENT ASSETS
Stocks 5 113,944 93,194
Debtors 6 236,061 533,112
Cash at bank and in hand 349,186 321,599
699,191 947,905
CREDITORS
Amounts falling due within one year 7 386,219 579,275
NET CURRENT ASSETS 312,972 368,630
TOTAL ASSETS LESS CURRENT LIABILITIES 350,024 414,252

CREDITORS
Amounts falling due after more than one
year

8

(98,105

)

(167,483

)

PROVISIONS FOR LIABILITIES - (1,142 )
NET ASSETS 251,919 245,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 251,819 245,527
SHAREHOLDERS' FUNDS 251,919 245,627

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

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

The director acknowledges his 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.

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2024 and were signed by:





Mr M Isaac - Director


MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

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


1. STATUTORY INFORMATION

Marks Building Services Limited 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 Statement of Income and Retained Earnings, 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.

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,659 86,016 166,412 3,212 258,299
Additions 1,197 - - 865 2,062
At 31 December 2023 3,856 86,016 166,412 4,077 260,361
DEPRECIATION
At 1 January 2023 532 74,441 135,221 2,483 212,677
Charge for year 639 1,736 7,798 459 10,632
At 31 December 2023 1,171 76,177 143,019 2,942 223,309
NET BOOK VALUE
At 31 December 2023 2,685 9,839 23,393 1,135 37,052
At 31 December 2022 2,127 11,575 31,191 729 45,622

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 29,995
DEPRECIATION
At 1 January 2023 13,119
Charge for year 4,218
At 31 December 2023 17,337
NET BOOK VALUE
At 31 December 2023 12,658
At 31 December 2022 16,876

5. STOCKS
2023 2022
£    £   
Stocks 113,944 93,194

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 163,020 465,135
Amounts recoverable on contract 55,000 55,000
Other debtors - 4,012
Directors' current accounts 8,469 -
Deferred tax asset 35 -
Prepayments 9,537 8,965
236,061 533,112

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 63,971 58,087
Hire purchase contracts 5,407 5,023
Trade creditors 53,698 264,545
Tax 47,406 29,040
Social security and other taxes 13,275 21,784
VAT 114,877 129,923
Other creditors 83,115 63,765
Directors' current accounts - 3,485
Accrued expenses 4,470 3,623
386,219 579,275

MARKS BUILDING SERVICES LIMITED (REGISTERED NUMBER: 03149404)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 88,238 152,209
Preference shares 3 3
Hire purchase contracts 9,864 15,271
98,105 167,483

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 3 3

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 15,271 20,294

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of the those leases of £5,814 (2022: £7,523).

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr M Isaac
Balance outstanding at start of year (3,485 ) (24,650 )
Amounts advanced 156,954 74,365
Amounts repaid (145,000 ) (53,200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,469 (3,485 )

Loans are unsecured, interest free and repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £145,000 (2022 - £53,200) were paid to the director .

13. GOVERNMENT GUARANTEED LOAN

The bank loan of £152,209 (2022: £210,296) is a COVID-19 CBILS, guaranteed by the government. Term runs to March 2026.