MARSHALLS SURVEYORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
Company Registration Number: 09571131
MARSHALLS SURVEYORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
MARSHALLS SURVEYORS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS
M A Shirley
R W Mawer
D Stephens
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Suite F1
The Kidlington Centre
High Street
Kidlington
Oxfordshire
OX5 2DL
COMPANY REGISTRATION NUMBER
09571131 England and Wales
MARSHALLS SURVEYORS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 5 27,000 34,200
Tangible assets 6 10,386 12,522
37,386 46,722
CURRENT ASSETS
Debtors 7 63,335 32,303
Cash at bank and in hand 162,730 187,199
226,065 219,502
CREDITORS: Amounts falling due within one year 8 118,239 77,701
NET CURRENT ASSETS 107,826 141,801
TOTAL ASSETS LESS CURRENT LIABILITIES 145,212 188,523
Provisions for liabilities and charges 1,484 925
NET ASSETS 143,728 187,598
CAPITAL AND RESERVES
Called up share capital 225 225
Distributable profit and loss account 143,428 187,298
Capital redemption reserve 75 75
SHAREHOLDERS' FUNDS 143,728 187,598
MARSHALLS SURVEYORS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
M A Shirley D Stephens
Director Director
Date approved by the board: 6 August 2024
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1 GENERAL INFORMATION
Marshalls Surveyors Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Suite F1
The Kidlington Centre
High Street
Kidlington
Oxfordshire
OX5 2DL
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of property surveying and valuation services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 5 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Office equipment Reducing balance basis at 25% per annum
Computer equipment Straight line basis at 33.33% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 5 5
5 INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 April 2023 156,000
At 31 March 2024 156,000
Accumulated amortisation and impairments
At 1 April 2023 121,800
Charge for year 7,200
At 31 March 2024 129,000
Net book value
At 1 April 2023 34,200
At 31 March 2024 27,000
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6 TANGIBLE ASSETS
Office equipment Computer equipment Total
£ £ £
Cost
At 1 April 2023 15,121 2,552 17,673
Additions 1,351 - 1,351
At 31 March 2024 16,472 2,552 19,024
Accumulated depreciation and impairments
At 1 April 2023 4,939 212 5,151
Charge for year 2,637 850 3,487
At 31 March 2024 7,576 1,062 8,638
Net book value
At 1 April 2023 10,182 2,340 12,522
At 31 March 2024 8,896 1,490 10,386
7 DEBTORS
2024 2023
£ £
Trade debtors 6,212 7,140
Prepayments and accrued income 13,982 9,785
Other debtors 43,141 15,378
63,335 32,303
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Taxation and social security 58,806 32,610
Accruals and deferred income 38,241 38,241
Other creditors 21,192 6,850
118,239 77,701
MARSHALLS SURVEYORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
9 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 54,159 54,159
In more than one but less than five years 35,925 90,084
90,084 144,243
10 DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The following directors' advances, credits and guarantees took place during the year
Balance at 1 April 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 31 March 2024
£ £ £ £ £
M A Shirley 4,075 6,079 4,075 - 6,079
R W Mawer 4,123 28,616 4,123 - 28,616
D Stephens 4,030 5,296 4,030 - 5,296
12,228 39,991 12,228 - 39,991
Some of these advances are interest free and repayable on demand.
Interest has been charged on one of these advances at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. This advance is repayable on demand.
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