Acorah Software Products - Accounts Production 15.0.500 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 04327355 Emma Marshall Neil Marshall Neil Marshall iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04327355 2023-02-28 04327355 2024-02-29 04327355 2023-03-01 2024-02-29 04327355 frs-core:CurrentFinancialInstruments 2024-02-29 04327355 frs-core:BetweenOneFiveYears 2024-02-29 04327355 frs-core:ComputerEquipment 2024-02-29 04327355 frs-core:ComputerEquipment 2023-03-01 2024-02-29 04327355 frs-core:ComputerEquipment 2023-02-28 04327355 frs-core:FurnitureFittings 2024-02-29 04327355 frs-core:FurnitureFittings 2023-03-01 2024-02-29 04327355 frs-core:FurnitureFittings 2023-02-28 04327355 frs-core:MotorVehicles 2024-02-29 04327355 frs-core:MotorVehicles 2023-03-01 2024-02-29 04327355 frs-core:MotorVehicles 2023-02-28 04327355 frs-core:PlantMachinery 2024-02-29 04327355 frs-core:PlantMachinery 2023-03-01 2024-02-29 04327355 frs-core:PlantMachinery 2023-02-28 04327355 frs-core:WithinOneYear 2024-02-29 04327355 frs-core:ShareCapital 2024-02-29 04327355 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 04327355 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04327355 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 04327355 frs-bus:SmallEntities 2023-03-01 2024-02-29 04327355 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04327355 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04327355 frs-bus:Director1 2023-03-01 2024-02-29 04327355 frs-bus:Director1 2023-02-28 04327355 frs-bus:Director1 2024-02-29 04327355 frs-bus:Director2 2023-03-01 2024-02-29 04327355 frs-bus:Director2 2023-02-28 04327355 frs-bus:Director2 2024-02-29 04327355 frs-bus:CompanySecretary1 2023-03-01 2024-02-29 04327355 frs-countries:EnglandWales 2023-03-01 2024-02-29 04327355 2022-02-28 04327355 2023-02-28 04327355 2022-03-01 2023-02-28 04327355 frs-core:CurrentFinancialInstruments 2023-02-28 04327355 frs-core:BetweenOneFiveYears 2023-02-28 04327355 frs-core:WithinOneYear 2023-02-28 04327355 frs-core:ShareCapital 2023-02-28 04327355 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 04327355
Marshalls Pet Food Store Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
TaxAssist Accountants (Poole)
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04327355
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 36,026 19,245
36,026 19,245
CURRENT ASSETS
Stocks 5 36,762 51,826
Debtors 6 25,875 26,184
Cash at bank and in hand 35,199 35,669
97,836 113,679
Creditors: Amounts Falling Due Within One Year 7 (62,449 ) (66,227 )
NET CURRENT ASSETS (LIABILITIES) 35,387 47,452
TOTAL ASSETS LESS CURRENT LIABILITIES 71,413 66,697
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,138 ) (2,794 )
NET ASSETS 65,275 63,903
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 65,175 63,803
SHAREHOLDERS' FUNDS 65,275 63,903
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Emma Marshall
Director
04/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Marshalls Pet Food Store Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04327355 . The registered office is Marshalls Pet Food Store Ltd Reading Road, Burghfield Common, Reading, RG7 3BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.7. Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.8. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.9. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 March 2023 9,326 6,750 4,390 9,835 30,301
Additions 982 18,239 - 1,780 21,001
Disposals - - (643 ) (550 ) (1,193 )
As at 29 February 2024 10,308 24,989 3,747 11,065 50,109
Depreciation
As at 1 March 2023 3,282 2,953 1,879 2,942 11,056
Provided during the period 956 1,329 357 1,144 3,786
Disposals - - (513 ) (246 ) (759 )
As at 29 February 2024 4,238 4,282 1,723 3,840 14,083
Net Book Value
As at 29 February 2024 6,070 20,707 2,024 7,225 36,026
As at 1 March 2023 6,044 3,797 2,511 6,893 19,245
5. Stocks
2024 2023
£ £
Stock 36,762 51,826
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 4,184
Prepayments and accrued income 3,525 -
Other debtors 3,000 3,000
Directors' loan accounts 19,350 19,000
25,875 26,184
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39,035 41,614
Corporation tax 788 50
Other taxes and social security 8,933 6,723
VAT 6,703 11,739
Other creditors 1,245 1,256
Accruals and deferred income 5,745 4,845
62,449 66,227
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial
Instruments Issues' of FRS 102 to all of its financial instruments.
10. Other Commitments
At 28 February 2023 the company had the following future minimum lease payments under
non-cancellable operating leases for each of the following periods:
2024 2023
£ £
Not later than one year 25,923 33,339
Later than one year and not later than five years 17,493 27,489
43,416 60,828
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Emma Marshall 9,500 9,675 9,500 - 9,675
Neil Marshall 9,500 9,675 9,500 - 9,675
The above loan is unsecured, interest free and repayable on demand.
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