Registered number
07594880
MARIGOLD ENGINEERS LIMITED
Filleted Accounts
30 April 2023
MARIGOLD ENGINEERS LIMITED
Registered number: 07594880
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 37,906 45,141
Current assets
Stocks 2,900 2,900
Debtors 4 75,708 53,827
Cash at bank and in hand 183,565 95,268
262,173 151,995
Creditors: amounts falling due within one year 5 (208,190) (138,244)
Net current assets 53,983 13,751
Total assets less current liabilities 91,889 58,892
Creditors: amounts falling due after more than one year 6 (22,500) (32,500)
Net assets 69,389 26,392
Capital and reserves
Called up share capital 100 100
Profit and loss account 69,289 26,292
Shareholders' funds 69,389 26,392
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.
BJ Marigold
Director
Approved by the board on 1 May 2024
MARIGOLD ENGINEERS LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 88,429 71,746 160,175
Additions - 5,400 5,400
At 30 April 2023 88,429 77,146 165,575
Depreciation
At 1 May 2022 79,381 35,653 115,034
Charge for the year 2,262 10,373 12,635
At 30 April 2023 81,643 46,026 127,669
Net book value
At 30 April 2023 6,786 31,120 37,906
At 30 April 2022 9,048 36,093 45,141
4 Debtors 2023 2022
£ £
Trade debtors 75,708 53,827
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 107,169 37,307
Taxation and social security costs 78,882 46,948
Other creditors 12,139 43,989
208,190 138,244
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,500 32,500
7 Other information
MARIGOLD ENGINEERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
The Hill Hub
1a Highfield Road
Dartford
Kent
DA1 2JH
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