Registered number
06461447
Marble Construction Ltd
Filleted Accounts
31 March 2024
Marble Construction Ltd
Registered number: 06461447
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 277,988 122,236
Investments 4 1 1
277,989 122,237
Current assets
Stocks 1,202,572 1,985,036
Debtors 5 133,715 379,764
Cash at bank and in hand 554,327 80,069
1,890,614 2,444,869
Creditors: amounts falling due within one year 6 (529,649) (500,994)
Net current assets 1,360,965 1,943,875
Total assets less current liabilities 1,638,954 2,066,112
Creditors: amounts falling due after more than one year 7 (135,778) (956,305)
Net assets 1,503,176 1,109,807
Capital and reserves
Called up share capital 699 699
Share premium 119,168 119,168
Profit and loss account 1,383,309 989,940
Shareholders' funds 1,503,176 1,109,807
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Rathod
Director
Approved by the board on 9 September 2024
Marble Construction Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 98,271 175,206 273,477
Additions 44,534 214,210 258,744
Disposals (16,999) - (16,999)
At 31 March 2024 125,806 389,416 515,222
Depreciation
At 1 April 2023 47,679 103,562 151,241
Charge for the year 20,792 71,463 92,255
On disposals (6,262) - (6,262)
At 31 March 2024 62,209 175,025 237,234
Net book value
At 31 March 2024 63,597 214,391 277,988
At 31 March 2023 50,592 71,644 122,236
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 1
At 31 March 2024 1
5 Debtors 2024 2023
£ £
Trade debtors 124,976 139,729
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 234,035
Other debtors 8,739 6,000
133,715 379,764
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 51,250 141,251
Obligations under finance lease and hire purchase contracts 60,833 7,968
Trade creditors 238,780 191,179
Taxation and social security costs 147,239 101,694
Accruals 3,437 3,092
Deferred income 28,100 10,800
Director's loan accounts - 45,000
Other creditors 10 10
529,649 500,994
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,813 945,954
Obligations under finance lease and hire purchase contracts 122,965 10,351
135,778 956,305
8 Related party transactions
At the year end the company owed loans to A Rathod, a director of the company, of £Nil (2023: £196,223).
At the year end the company owed loans to D Maunders, a director of the company, of £nil (2023: £15,000).
At the year end the company owed loans to L Maunders, a director of the company, of £Nil (2023: £15,000).
At the year end the company owed loans to P Maunders, who is a shareholder in Fubra Ltd, a company which owns 30.04% of the issued share capital of Marble Construction Ltd, of £Nil (2023: £181,223).
At the year end the company was owed £Nil (2023: £234,035) by Marble Construction (Homes) Ltd, a wholly owned subsidiary of the company.
At the year end the company owed loans to M Rathod, whose husband A Rathod, is a director of the company, of £Nil (2023: £90,000).
9 Controlling party
The company is controlled by the directors, who together with their spouses own 69.96% of the issued share capital.
10 Other information
Marble Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Farnborough Business Centre
Eelmoor Road
Farnborough
Hampshire
GU14 7XA
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