Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The tax expense for the year comprises current and deferred tax. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.true52023-04-01falsesupplying agricultural fixed equipment, buildings, grain and livestock equipment.5falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05608571 2023-04-01 2024-03-31 05608571 2022-04-01 2023-03-31 05608571 2024-03-31 05608571 2023-03-31 05608571 c:CompanySecretary1 2023-04-01 2024-03-31 05608571 c:Director1 2023-04-01 2024-03-31 05608571 c:Director2 2023-04-01 2024-03-31 05608571 c:Director3 2023-04-01 2024-03-31 05608571 c:RegisteredOffice 2023-04-01 2024-03-31 05608571 d:Buildings 2023-04-01 2024-03-31 05608571 d:Buildings 2024-03-31 05608571 d:Buildings 2023-03-31 05608571 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05608571 d:PlantMachinery 2023-04-01 2024-03-31 05608571 d:PlantMachinery 2024-03-31 05608571 d:PlantMachinery 2023-03-31 05608571 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05608571 d:MotorVehicles 2023-04-01 2024-03-31 05608571 d:MotorVehicles 2024-03-31 05608571 d:MotorVehicles 2023-03-31 05608571 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05608571 d:OfficeEquipment 2023-04-01 2024-03-31 05608571 d:OfficeEquipment 2024-03-31 05608571 d:OfficeEquipment 2023-03-31 05608571 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05608571 d:ComputerEquipment 2023-04-01 2024-03-31 05608571 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05608571 d:CurrentFinancialInstruments 2024-03-31 05608571 d:CurrentFinancialInstruments 2023-03-31 05608571 d:Non-currentFinancialInstruments 2024-03-31 05608571 d:Non-currentFinancialInstruments 2023-03-31 05608571 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05608571 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05608571 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 05608571 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05608571 d:ShareCapital 2024-03-31 05608571 d:ShareCapital 2023-03-31 05608571 d:RetainedEarningsAccumulatedLosses 2024-03-31 05608571 d:RetainedEarningsAccumulatedLosses 2023-03-31 05608571 c:OrdinaryShareClass1 2023-04-01 2024-03-31 05608571 c:OrdinaryShareClass1 2024-03-31 05608571 c:OrdinaryShareClass2 2023-04-01 2024-03-31 05608571 c:OrdinaryShareClass2 2024-03-31 05608571 c:OrdinaryShareClass3 2023-04-01 2024-03-31 05608571 c:OrdinaryShareClass3 2024-03-31 05608571 c:OrdinaryShareClass4 2023-04-01 2024-03-31 05608571 c:OrdinaryShareClass4 2024-03-31 05608571 c:OrdinaryShareClass5 2023-04-01 2024-03-31 05608571 c:OrdinaryShareClass5 2024-03-31 05608571 c:FRS102 2023-04-01 2024-03-31 05608571 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05608571 c:FullAccounts 2023-04-01 2024-03-31 05608571 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05608571 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 05608571 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 05608571 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 05608571 2 2023-04-01 2024-03-31 05608571 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05608571










MARRISON AGRICULTURE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
MARRISON AGRICULTURE LIMITED
 
 
COMPANY INFORMATION


Directors
D J Feakes 
Mrs C A Feakes 
J D Feakes 




Company secretary
Mrs C A Feakes



Registered number
05608571



Registered office
8 Ironside Way
Industrial & Business Centre

Hingham

Norfolk

NR9 4LF




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
MARRISON AGRICULTURE LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 10

 
MARRISON AGRICULTURE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARRISON AGRICULTURE LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marrison Agriculture Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Marrison Agriculture Limited, as a body, in accordance with the terms of our engagement letter dated 26 May 2022Our work has been undertaken solely to prepare for your approval the financial statements of Marrison Agriculture Limited and state those matters that we have agreed to state to the Board of directors of Marrison Agriculture Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marrison Agriculture Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Marrison Agriculture Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marrison Agriculture Limited. You consider that Marrison Agriculture Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Marrison Agriculture Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
30 July 2024
Page 1

 
MARRISON AGRICULTURE LIMITED
REGISTERED NUMBER: 05608571

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
188,351
90,131

Current assets
  

Stocks
  
4,528
3,800

Debtors: amounts falling due within one year
 5 
333,674
332,694

Cash at bank and in hand
  
83,911
164,199

  
422,113
500,693

Creditors: amounts falling due within one year
 6 
(459,696)
(424,567)

Net current (liabilities)/assets
  
 
 
(37,583)
 
 
76,126

Total assets less current liabilities
  
150,768
166,257

Creditors: amounts falling due after more than one year
 7 
(12,184)
(22,361)

Provisions for liabilities
  

Deferred tax
  
(4,368)
(2,810)

Net assets
  
134,216
141,086


Capital and reserves
  

Called up share capital 
 8 
3,000
3,000

Profit and loss account
  
131,216
138,086

  
134,216
141,086


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 2

 
MARRISON AGRICULTURE LIMITED
REGISTERED NUMBER: 05608571
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 June 2024.




D J Feakes
Director

The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Marrison Agriculture Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The registered office is 1 Ironside Way, Industrial & Business Centre, Hingham, Norfolk, NR9 4LF.
The Company's principal activity is that of supplying agricultural fixed equipment, buildings, grain and livestock equipment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
 
Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Property improvements
-
15%
reducing balance
Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
15%
reducing balance
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Page 5

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are valued at the lower of cost and net relisable value after making due allowance for obsolete and slow-moving stocks.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the
Page 6

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.
Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities.
Other financial instruments
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


Tangible fixed assets





Property improvements
Plant and machinery
Motor  vehicles
Office and  computer  equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
31,250
6,053
110,060
15,532
162,895


Additions
1,969
323
162,030
4,391
168,713


Disposals
(1,022)
(1,170)
(85,719)
(7,002)
(94,913)



At 31 March 2024

32,197
5,206
186,371
12,921
236,695



Depreciation


At 1 April 2023
3,133
1,878
62,697
5,057
72,765


Charge for the year on owned assets
4,332
548
17,323
2,391
24,594


Disposals
(489)
(325)
(45,921)
(2,280)
(49,015)



At 31 March 2024

6,976
2,101
34,099
5,168
48,344



Net book value



At 31 March 2024
25,221
3,105
152,272
7,753
188,351



At 31 March 2023
28,117
4,176
47,363
10,475
90,131


5.


Debtors

2024
2023
£
£


Trade debtors
171,971
259,238

Other debtors
4,710
4,710

Prepayments and accrued income
156,993
68,746

333,674
332,694


Page 8

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
10,220
9,989

Trade creditors
146,745
212,601

Corporation tax
16,719
17,969

Other taxation and social security
19,057
7,889

Other creditors
23,592
30,040

Accruals and deferred income
243,363
146,079

459,696
424,567



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
12,184
22,361

12,184
22,361



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



750 'A' Ordinary shares of £1 each
750
750
675 'B' Ordinary shares of £1 each
675
675
675 'C' Ordinary shares of £1 each
675
675
750 'D' Ordinary shares of £1 each
750
750
150 'E' Ordinary shares of £1 each
150
150

3,000

3,000



9.


Pension commitments

Contributions totalling £400 (2023 - £400) were payable to the fund at the balance sheet date and are included in creditors.

Page 9

 
MARRISON AGRICULTURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

At the year end the Company owed £17,119 to (2023 - £14,500) the directors.  These balances are included within other creditors in note 6 to the financial statements.

 
Page 10