16 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-26 Sage Accounts Production Advanced 2023 - FRS102_2023 34,708 34,708 xbrli:pure xbrli:shares iso4217:GBP 5351987 2022-12-26 2023-12-31 5351987 2023-12-31 5351987 2022-12-25 5351987 2021-12-27 2022-12-25 5351987 2022-12-25 5351987 2021-12-26 5351987 bus:OrdinaryShareClass1 2022-12-26 2023-12-31 5351987 bus:Director3 2022-12-26 2023-12-31 5351987 core:NetGoodwill 2022-12-25 5351987 core:LandBuildings 2022-12-25 5351987 core:FurnitureFittings 2022-12-25 5351987 core:MotorVehicles 2022-12-25 5351987 core:LandBuildings 2022-12-26 2023-12-31 5351987 core:FurnitureFittings 2022-12-26 2023-12-31 5351987 core:MotorVehicles 2022-12-26 2023-12-31 5351987 core:WithinOneYear 2022-12-25 5351987 core:ShareCapital 2023-12-31 5351987 core:ShareCapital 2022-12-25 5351987 core:RetainedEarningsAccumulatedLosses 2022-12-25 5351987 core:AfterOneYear 2022-12-25 5351987 core:LandBuildings 2022-12-25 5351987 core:FurnitureFittings 2022-12-25 5351987 bus:SmallEntities 2022-12-26 2023-12-31 5351987 bus:AuditExempt-NoAccountantsReport 2022-12-26 2023-12-31 5351987 bus:SmallCompaniesRegimeForAccounts 2022-12-26 2023-12-31 5351987 bus:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 5351987 bus:FullAccounts 2022-12-26 2023-12-31 5351987 bus:OrdinaryShareClass1 2023-12-31 5351987 bus:OrdinaryShareClass1 2022-12-25 5351987 core:LandBuildings core:LongLeaseholdAssets 2022-12-26 2023-12-31 5351987 core:NetGoodwill 2022-12-26 2023-12-31
COMPANY REGISTRATION NUMBER: 5351987
MARSHALLSAY MACARI DIXON LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
MARSHALLSAY MACARI DIXON LIMITED
BALANCE SHEET
31 December 2023
31 Dec 23
25 Dec 22
Note
£
£
£
£
Fixed assets
Tangible assets
6
42,966
Current assets
Stocks
7
13,369
Debtors
8
200
94,444
Cash at bank and in hand
1,156,288
----
-----------
200
1,264,101
Creditors: amounts falling due within one year
9
( 338,493)
----
-----------
Net current assets
200
925,608
----
--------
Total assets less current liabilities
200
968,574
Provisions
Taxation including deferred tax
( 850)
----
--------
Net assets
200
967,724
----
--------
Capital and reserves
Called up share capital
10
200
200
Profit and loss account
967,524
----
--------
Total shareholders' funds
200
967,724
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 September 2024 , and are signed on behalf of the board by:
HS Grewal
Director
Company registration number: 5351987
MARSHALLSAY MACARI DIXON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 26 DECEMBER 2022 TO 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 North Bar, Banbury, OX16 0TB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going concern These financial statements have been prepared on a basis other than going concern. On 27 March 2023, the trade and net assets of the company were hived up into the operations of the parent company Hanley Heath Limited for a total consideration of £768,004. The remaining equity within the company totalling £1,004,584 was transferred to Hanley Heath Limited by way of dividend.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and rebates allowed by the company and value added taxes. The company operates pizza stores for the production and sale of pizzas. Sales of pizzas are recognised when the significant risks and rewards of ownership have transferred to the buyer. This is on sale to the customer, which is considered the point of delivery. Retail sales are usually by cash, credit or payment card.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% per annum straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
straight line basis over the term of the trading property lease period
Fixtures and fittings
-
10 - 20% straight line basis
Motor vehicles
-
25% per annum reducing balance basis
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, bank loans and overdrafts are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 16 (2022: 61 ).
5. Intangible assets
Goodwill
£
Cost
At 26 December 2022
34,708
Additions
Transfers
( 34,708)
-------
At 31 December 2023
-------
Amortisation
At 26 December 2022
34,708
Charge for the period
Transfers
(34,708)
-------
At 31 December 2023
-------
Carrying amount
At 31 December 2023
-------
At 25 December 2022
-------
6. Tangible assets
Leasehold improvements
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 26 December 2022
51,836
437,218
5,982
495,036
Additions
2,420
2,420
Transfers
(51,836)
(439,638)
(5,982)
(497,456)
-------
--------
------
--------
At 31 December 2023
-------
--------
------
--------
Depreciation
At 26 December 2022
49,309
396,779
5,982
452,070
Charge for the period
589
1,567
2,156
Transfers
(49,898)
(398,346)
(5,982)
(454,226)
-------
--------
------
--------
At 31 December 2023
-------
--------
------
--------
Carrying amount
At 31 December 2023
-------
--------
------
--------
At 25 December 2022
2,527
40,439
42,966
-------
--------
------
--------
7. Stocks
31 Dec 23
25 Dec 22
£
£
Raw materials and consumables
13,369
----
-------
8. Debtors
31 Dec 23
25 Dec 22
£
£
Trade debtors
566
Amounts owed by group undertakings and undertakings in which the company has a participating interest
200
Other debtors
93,878
----
-------
200
94,444
----
-------
The debtors above include the following amounts falling due after more than one year:
31 Dec 23
25 Dec 22
£
£
Other debtors
27,672
----
-------
9. Creditors: amounts falling due within one year
31 Dec 23
25 Dec 22
£
£
Bank loans and overdrafts
14
Trade creditors
55,356
Corporation tax
54,696
Social security and other taxes
131,147
Other creditors
97,280
----
--------
338,493
----
--------
10. Called up share capital
Issued, called up and fully paid
31 Dec 23
25 Dec 22
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
31 Dec 23
25 Dec 22
£
£
Not later than 1 year
14,540
----
-------
12. Related party transactions
On 27 March 2023, the trade and net assets of the company were hived up into the operations of the parent company Hanley Heath Limited for a total consideration of £768,004.
13. Controlling party
The ultimate parent company was Hanley Heath Limited to 27 February 2023, a company incorporated in England and Wales. From 28 February 2023 the immediate parent company is Hanley Heath Limited and the ultimate parent company is Hanley Holdco Limited, a company incorporated in England and Wales.