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ANDREW MARKS UPHOLSTERY SERVICES LTD

Registered Number
08451425
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ANDREW MARKS UPHOLSTERY SERVICES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Tanya Clare Gabb
Andrew Thomas Marks

Registered Address

C/O Businessvision Unit 4, Sandy Court, Ashleigh Way
Plympton
Plymouth
PL7 5JX

Registered Number

08451425 (England and Wales)
ANDREW MARKS UPHOLSTERY SERVICES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets411,61912,576
11,61912,576
Current assets
Stocks51,8481,500
Debtors613,4087,761
Cash at bank and on hand11,03128,992
26,28738,253
Creditors amounts falling due within one year7(27,469)(28,691)
Net current assets (liabilities)(1,182)9,562
Total assets less current liabilities10,43722,138
Creditors amounts falling due after one year8(4,566)(9,016)
Provisions for liabilities10(1,804)(1,897)
Net assets4,06711,225
Capital and reserves
Called up share capital120100
Profit and loss account3,94711,125
Shareholders' funds4,06711,225
The financial statements were approved and authorised for issue by the Board of Directors on 6 July 2024, and are signed on its behalf by:
Andrew Thomas Marks
Director
Registered Company No. 08451425
ANDREW MARKS UPHOLSTERY SERVICES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are carried at cost less accumulated and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 2330,00030,000
At 31 March 2430,00030,000
Amortisation and impairment
At 01 April 2330,00030,000
At 31 March 2430,00030,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 234,37410,5472,54417,465
Additions--959959
At 31 March 244,37410,5473,50318,424
Depreciation and impairment
At 01 April 234632,6371,7894,889
Charge for year7827913431,916
At 31 March 241,2453,4282,1326,805
Net book value
At 31 March 243,1297,1191,37111,619
At 31 March 233,9117,91075512,576
5.Stocks

2024

2023

££
Raw materials and consumables1,8481,500
Total1,8481,500
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables12,1176,937
Other debtors1,291824
Total13,4087,761
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,870732
Bank borrowings and overdrafts3,0003,000
Taxation and social security15,70016,540
Finance lease and HP contracts1,6301,589
Other creditors4,2696,830
Total27,46928,691
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,5006,500
Other creditors1,0662,516
Total4,5669,016
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts1,0662,516
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,8041,897
Total1,8041,897
11.Related party transactions
At the end of the year the Director, Mr Andrew Marks was owed £4,270.76 (2023:- £4981.51)