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REGISTERED NUMBER: 00570928 (England and Wales)















MARCOS MOTOR COMPANY LIMITED

Financial Statements for the Year Ended 31 December 2023






MARCOS MOTOR COMPANY LIMITED (REGISTERED NUMBER: 00570928)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARCOS MOTOR COMPANY LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: H S Nash
Mrs R C Laws
M A Pearce





REGISTERED OFFICE: Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ





REGISTERED NUMBER: 00570928 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Chartered Accountants and Statutory Auditors
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

MARCOS MOTOR COMPANY LIMITED (REGISTERED NUMBER: 00570928)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,557 -
Investments 5 192,097 192,097
195,654 192,097

CURRENT ASSETS
Debtors 6 139,876 136,405
Cash at bank 1,203 1
141,079 136,406
CREDITORS
Amounts falling due within one year 7 104,120 22,751
NET CURRENT ASSETS 36,959 113,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,613

305,752

CREDITORS
Amounts falling due after more than one year 8 302,501 305,751
NET (LIABILITIES)/ASSETS (69,888 ) 1

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (69,889 ) -
SHAREHOLDERS' FUNDS (69,888 ) 1

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 Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:




H S Nash - Director



M A Pearce - Director


MARCOS MOTOR COMPANY LIMITED (REGISTERED NUMBER: 00570928)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Marcos Motor Company Limited is a private company, limited by shares , registered in England and Wales. 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.

The company had net liabilities and net current liabilities of £69,888 at the year-end. The directors consider that it is appropriate to prepare the accounts on a going concern basis as the parent company, Automotive Vision Limited, has undertaken to continue to provide financial support for the company as required for a period of at least twelve months from the date of approval of these accounts.

The financial statements are presented in Sterling which is the functional currency of the company.

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.

Patents and licences are being amortised evenly over their estimated useful life of four years.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

MARCOS MOTOR COMPANY LIMITED (REGISTERED NUMBER: 00570928)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 3,971
At 31 December 2023 3,971
AMORTISATION
Charge for year 414
At 31 December 2023 414
NET BOOK VALUE
At 31 December 2023 3,557

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 192,097
NET BOOK VALUE
At 31 December 2023 192,097
At 31 December 2022 192,097

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 137,921 136,405
Other debtors 1,955 -
139,876 136,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 102,494 16,250
Other creditors 1,626 6,501
104,120 22,751

MARCOS MOTOR COMPANY LIMITED (REGISTERED NUMBER: 00570928)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 302,501 305,751

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Donald Nelson, FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. ULTIMATE CONTROLLING PARTY

At 31 December 2023 the parent company is Automotive Vision Ltd and the ultimate controlling party is Mr H S Nash.