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REGISTERED NUMBER: 12102784 (England and Wales)













Financial Statements

For The Year Ended 31 July 2023

for

Mark Lane Designs Ltd

Mark Lane Designs Ltd (Registered number: 12102784)






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


Mark Lane Designs Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTORS: M Lane
J J Cavalli





SECRETARY: J J Cavalli





REGISTERED OFFICE: Mallard Barn
Toft Next Newton
MARKET RASEN
LN8 3NE





REGISTERED NUMBER: 12102784 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Mark Lane Designs Ltd (Registered number: 12102784)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,104 10,729

CURRENT ASSETS
Debtors 5 8,033 4,693
Cash at bank and in hand 18,262 6,061
26,295 10,754
CREDITORS
Amounts falling due within one year 6 26,383 10,729
NET CURRENT (LIABILITIES)/ASSETS (88 ) 25
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,016

10,754

CREDITORS
Amounts falling due after more than
one year

7

412

-
NET ASSETS 11,604 10,754

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,504 10,654
11,604 10,754

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.

Mark Lane Designs Ltd (Registered number: 12102784)

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 9 April 2024 and were signed on its behalf by:





M Lane - Director


Mark Lane Designs Ltd (Registered number: 12102784)

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

1. STATUTORY INFORMATION

Mark Lane Designs 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.

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 - 25% on cost
Office equipment - 25% on cost

Financial instruments
Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised costs. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised costs. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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.

Mark Lane Designs Ltd (Registered number: 12102784)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 14,306
Additions 5,832
At 31 July 2023 20,138
DEPRECIATION
At 1 August 2022 3,577
Charge for year 4,457
At 31 July 2023 8,034
NET BOOK VALUE
At 31 July 2023 12,104
At 31 July 2022 10,729

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,480 600
Other debtors 386 3,490
Prepayments and accrued income 1,167 603
8,033 4,693

Mark Lane Designs Ltd (Registered number: 12102784)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 550 -
Trade creditors 11,279 -
Social security and other taxes 31 -
VAT 4,646 2,161
Directors' current accounts 8,878 7,168
Accruals and deferred income 999 1,400
26,383 10,729

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts 412 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 962 -

Hire purchase agreements are secured against the asset to which they relate.

9. RELATED PARTY DISCLOSURES

Included within creditors are directors loan account balances of £8,878 (2022: £7,168). This amount is unsecured and interest free.