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Marquis Fire And Security Services Limited
Financial Statements
For The Year Ended 30 November 2023
TaxAssist Accountants
133 Station Road
Sidcup
DA15 7AA
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07865628
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,839 3,785
2,839 3,785
CURRENT ASSETS
Debtors 6 59,846 88,121
Cash at bank and in hand 13,594 -
73,440 88,121
Creditors: Amounts Falling Due Within One Year 7 (63,324 ) (74,686 )
NET CURRENT ASSETS (LIABILITIES) 10,116 13,435
TOTAL ASSETS LESS CURRENT LIABILITIES 12,955 17,220
Creditors: Amounts Falling Due After More Than One Year 8 (8,597 ) (13,273 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (540 ) (719 )
NET ASSETS 3,818 3,228
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 2,818 2,228
SHAREHOLDERS' FUNDS 3,818 3,228
Page 1
Page 2
For the year ending 30 November 2023 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
Mr James Wild
Director
23 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Marquis Fire And Security Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07865628 . The registered office is 133 Station Road, Sidcup, DA15 7AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. 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.
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2.5. 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 year 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 asset reflects 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was 4 (2022: 4)
4 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 27,573 1,200 28,773
As at 30 November 2023 27,573 1,200 28,773
Depreciation
As at 1 December 2022 23,892 1,096 24,988
Provided during the period 920 26 946
As at 30 November 2023 24,812 1,122 25,934
Net Book Value
As at 30 November 2023 2,761 78 2,839
As at 1 December 2022 3,681 104 3,785
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5. Stocks
2023 2022
£ £
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 37,026 22,200
Directors' loan accounts 22,820 65,921
59,846 88,121
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,165 4,663
Bank loans and overdrafts 5,000 29,564
Corporation tax 32,954 29,700
VAT 20,256 9,115
Other creditors 84 84
Accruals and deferred income 1,865 1,560
63,324 74,686
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 8,597 13,273
8,597 13,273
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Robert Skeggs 45,365 23,788 45,365 - 23,788
The above loan is unsecured, repayable on demand and has interest charged at the HMRC official rate of 2.25%.
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