Company registration number SC145874 (Scotland)
MARSHALL BROWN (WINDOWS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MARSHALL BROWN (WINDOWS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
MARSHALL BROWN (WINDOWS) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
222,580
-
0
Current assets
Debtors
4
857,719
904,741
Cash at bank and in hand
565,360
175,558
1,423,079
1,080,299
Creditors: amounts falling due within one year
5
(973,967)
(1,011,937)
Net current assets
449,112
68,362
Total assets less current liabilities
671,692
68,362
Creditors: amounts falling due after more than one year
6
(153,777)
-
0
Provisions for liabilities
(53,267)
-
0
Net assets
464,648
68,362
Capital and reserves
Called up share capital
8
160
160
Profit and loss reserves
464,488
68,202
Total equity
464,648
68,362

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

MARSHALL BROWN (WINDOWS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 July 2024 and are signed on its behalf by:
D A McKenna
N McKenna
Director
Director
Company Registration No. SC145874
MARSHALL BROWN (WINDOWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Marshall Brown (Windows) Limited is a private company limited by shares incorporated in Scotland. The registered office is 7 Wellington Road, Bishopbriggs, Glasgow, United Kingdom, G64 2SA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Motor vehicles
33.33% reducing balance
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

MARSHALL BROWN (WINDOWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
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.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 leases asset are consumed.

1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

MARSHALL BROWN (WINDOWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees
2023
2022
Number
Number
Total
30
28
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2023
-
0
-
0
-
0
Additions
210,655
55,088
265,743
At 31 December 2023
210,655
55,088
265,743
Depreciation and impairment
At 1 January 2023
-
0
-
0
-
0
Depreciation charged in the year
26,332
16,831
43,163
At 31 December 2023
26,332
16,831
43,163
Carrying amount
At 31 December 2023
184,323
38,257
222,580
At 31 December 2022
-
0
-
0
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
7,996
36,398
Other debtors
849,723
868,343
857,719
904,741
MARSHALL BROWN (WINDOWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
427,120
612,090
Amounts owed to group undertakings
128,805
284,509
Taxation and social security
218,253
41,555
Other creditors
199,789
73,783
973,967
1,011,937
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
153,777
-
0
7
Secured Liabilities

Amounts due under finance lease are secured by the assets the hire purchase agreement relates to.

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
80
80
80
80
Ordinary B of £1 each
80
80
80
80
160
160
160
160
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
192,451
273,037
MARSHALL BROWN (WINDOWS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

2023
2022
£
£
Entities with control, joint control or significant influence over the company
(128,805)
(284,509)
Management Fees
30,000
30,000
Amounts due from related party
-
18,555

These loans are unsecured, interest free with no fixed date for repayment.

11
Parent company

The parent company of Marshall Brown (Windows) Limited is Marshall Brown Architectural Systems Limited and its registered office is Titanium 1, Kings Inch Place, Renfrew, Scotland, PA4 8WF.

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