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Company Registration No. 12790234 (England and Wales)
Marcott Limited Unaudited accounts for the year ended 31 January 2024
Marcott Limited Unaudited accounts Contents
Page
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Marcott Limited Company Information for the year ended 31 January 2024
Directors
K R Cottam R W Marlow
Company Number
12790234 (England and Wales)
Registered Office
18 The Bridge Business Centre Beresford Way Chesterfield Derbyshire S41 9FG UNITED KINGDOM
Accountants
Net Accountancy Solutions Limited 35 Gripps Common Cotgrave Nottingham Nottinghamshire NG12 3TF
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Marcott Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
38,592 
38,592 
Tangible assets
4,541 
9,081 
43,133 
47,673 
Current assets
Debtors
7,151 
75,889 
Cash at bank and in hand
308,979 
245,091 
316,130 
320,980 
Creditors: amounts falling due within one year
(461,325)
(451,650)
Net current liabilities
(145,195)
(130,670)
Net liabilities
(102,062)
(82,997)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(102,162)
(83,097)
Shareholders' funds
(102,062)
(82,997)
For the year ending 31 January 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by
K R Cottam Director Company Registration No. 12790234
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Marcott Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Marcott Limited is a private company, limited by shares, registered in England and Wales, registration number 12790234. The registered office is 18 The Bridge Business Centre, Beresford Way, Chesterfield, Derbyshire, S41 9FG, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets comprise investments in cryptocurrencies classified as such on the basis that they are a form of digital money and do not have physical substance and the company can expect an inflow of economic benefits. These cryptocurrencies are recorded at fair value at the balance sheet date with any increase in value recognised in other comprehensive income and accumulated in equity. A revaluation loss will be recognised in the profit and loss account. As it is considered that cryptocurrencies have an indefinite useful life this asset will not be amortised but tested annually for impairment.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years straight line
Going concern
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company financially for the foreseeable future.
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Marcott Limited Notes to the Accounts for the year ended 31 January 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2023
38,592 
At 31 January 2024
38,592 
Amortisation
At 1 February 2023
- 
At 31 January 2024
- 
Net book value
At 31 January 2024
38,592 
At 31 January 2023
38,592 
Intangible fixed assets comprise investments in cryptocurrencies held on trust by the director on behalf of the company. The cryptocurrencies have been classified as intangible fixed assets on the basis that they are a form of digital money and do not have physical substance and the company can expect an inflow of economic benefits. Since there is an active market for these cryptocurrencies they are recorded at fair value at the balance sheet date with any increase in value recognised in other comprehensive income and accumulated in equity. A revaluation loss will be recognised in the profit and loss account. As it is considered that cryptocurrencies have an indefinite useful life this asset will not be amortised but tested annually for impairment.
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2023
18,161 
At 31 January 2024
18,161 
Depreciation
At 1 February 2023
9,080 
Charge for the year
4,540 
At 31 January 2024
13,620 
Net book value
At 31 January 2024
4,541 
At 31 January 2023
9,081 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
7,151 
75,889 
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Marcott Limited Notes to the Accounts for the year ended 31 January 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
300 
300 
Other creditors
437,000 
437,000 
Loans from directors
- 
1,250 
Accruals
24,025 
13,100 
461,325 
451,650 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Interest free loan repayable on demand
- 
1,300 
- 
1,300 
Interest free loan repayable on demand
69,550 
161,301 
230,000 
851 
69,550 
162,601 
230,000 
2,151 
The loans were repaid within 9 months of the year end.
9
Transactions with related parties
Various loans have been made between the company and other companies under common control. At the balance sheet date the company owed £372,000 to Ipsum (GB) Limited, £50,000 to Ipsum (UK) Limited and £15,000 to Ipsum Holdings Limited. Interest is accrued at a rate of 2.5% per annum and is payable when the loans are repaid which is by the 31 December 2025 at the latest.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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