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REGISTERED NUMBER: SC172812 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Marpet Fabrications (1997) Ltd.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marpet Fabrications (1997) Ltd.

Company Information
for the Year Ended 31 August 2023







DIRECTOR: W Chisholm





REGISTERED OFFICE: Unit 4
Clyde Workshops
Fullarton Road
Glasgow
G32 8YL





REGISTERED NUMBER: SC172812 (Scotland)





ACCOUNTANTS: cbs (Scotland) Ltd
33 Laird Street
Coatbridge
Lanarkshire
ML5 3LW

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 121,961 95,213
121,961 95,213

CURRENT ASSETS
Stocks 6,200 6,200
Debtors 6 204,116 257,060
Cash at bank 218,919 209,888
429,235 473,148
CREDITORS
Amounts falling due within one year 7 (143,138 ) (201,842 )
NET CURRENT ASSETS 286,097 271,306
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,058

366,519

CREDITORS
Amounts falling due after more than one year 8 (18,591 ) (21,881 )

PROVISIONS FOR LIABILITIES (27,895 ) (21,021 )
NET ASSETS 361,572 323,617

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 361,472 323,517
361,572 323,617

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

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

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Balance Sheet - continued
31 August 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 director and authorised for issue on 11 April 2024 and were signed by:





W Chisholm - Director


Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Marpet Fabrications (1997) Ltd. is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses

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 etc - 25% on reducing balance and 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 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.

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.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 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.

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 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 16,000
AMORTISATION
At 1 September 2022
and 31 August 2023 16,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 329,240
Additions 51,921
At 31 August 2023 381,161
DEPRECIATION
At 1 September 2022 234,027
Charge for year 25,173
At 31 August 2023 259,200
NET BOOK VALUE
At 31 August 2023 121,961
At 31 August 2022 95,213

Included within the net book value of plant and machinery etc is an amount of £93,511 (2022 - £81,057) relating to assets held under hire purchase contracts classified as finance leases.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 192,500 240,804
Other debtors 11,616 16,256
204,116 257,060

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts (see note 9) 32,926 31,314
Trade creditors 64,193 94,806
Taxation and social security 44,979 74,345
Other creditors 1,040 1,377
143,138 201,842

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Hire purchase contracts (see note 9) 18,591 21,881

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.23 31.8.22
£    £   
Gross obligations repayable:
Within one year 34,522 32,865
Between one and five years 19,344 22,311
53,866 55,176

Finance charges repayable:
Within one year 1,596 1,551
Between one and five years 753 430
2,349 1,981

Net obligations repayable:
Within one year 32,926 31,314
Between one and five years 18,591 21,881
51,517 53,195

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Hire purchase contracts 51,517 53,195

The hire purchase obligations are secured over the company's tangible fixed asset to which they relate.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the director, £597 (2022 - £93).