Registered number
02962584
Marrey Tableware Limited
Filleted Accounts
31 August 2023
Marrey Tableware Limited
Registered number: 02962584
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 550 848
Current assets
Stocks 143,500 143,500
Debtors 5 174,001 148,078
Cash at bank and in hand - 37,855
317,501 329,433
Creditors: amounts falling due within one year 6 (196,255) (164,218)
Net current assets 121,246 165,215
Total assets less current liabilities 121,796 166,063
Creditors: amounts falling due after more than one year 7 (120,000) (165,000)
Net assets 1,796 1,063
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,696 963
Shareholders' funds 1,796 1,063
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.
Andrew James Freeman
Director
Approved by the board on 28 December 2023
Marrey Tableware Limited
Notes to the Accounts
for the year ended 31 August 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Motor vehicles 25% straight line
Fixtures and fittings 20% straight line
Computer equipment 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 189,805
At 31 August 2023 189,805
Amortisation
At 1 September 2022 189,805
At 31 August 2023 189,805
Net book value
At 31 August 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Motor Vehicles Fixtures and fittings Total
£ £ £
Cost
At 1 September 2022 14,350 1,488 15,838
Disposals (14,350) - (14,350)
At 31 August 2023 - 1,488 1,488
Depreciation
At 1 September 2022 14,350 640 14,990
Charge for the year - 298 298
On disposals (14,350) - (14,350)
At 31 August 2023 - 938 938
Net book value
At 31 August 2023 - 550 550
At 31 August 2022 - 848 848
5 Debtors 2023 2022
£ £
Trade debtors 109,039 57,319
Prepayments and accrued income - 1,057
Other debtors 64,962 89,702
174,001 148,078
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 25,833 45,000
Obligations under finance lease and hire purchase contracts 45,000 -
Trade creditors 64,079 55,197
Taxation and social security costs 55,386 58,998
Other creditors 5,957 5,023
196,255 164,218
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 120,000 165,000
8 Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £2,383 (202: £2,242).
9 Related party transactions
Included in other debtors is an amount of £49,140 (2021 £70,669) which is owed by the directors of the
company. Interest of £3,566 (2022: £1,035) was charged on the loan.
10 Other information
Marrey Tableware Limited is a private company limited by shares and incorporated in England. Its registered office is:
Devonshire House
582 Honeypot Lane
Stanmore
HA7 1JS
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