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REGISTERED NUMBER: 04854144 (England and Wales)















Unaudited Financial Statements

for the Period 1 August 2022 to 31 December 2023

for

Marsden Direct Group Limited

Marsden Direct Group Limited (Registered number: 04854144)






Contents of the Financial Statements
for the Period 1 August 2022 to 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marsden Direct Group Limited

Company Information
for the Period 1 August 2022 to 31 December 2023







DIRECTOR: Mr C D Marsden





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 04854144 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Marsden Direct Group Limited (Registered number: 04854144)

Balance Sheet
31 December 2023

31.12.23 31.7.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 5,548 -
Tangible assets 5 462,019 316,154
467,567 316,154

CURRENT ASSETS
Stocks 111,667 147,366
Debtors 6 419,653 372,623
Cash at bank and in hand 142,898 149,927
674,218 669,916
CREDITORS
Amounts falling due within one year 7 (435,760 ) (529,079 )
NET CURRENT ASSETS 238,458 140,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

706,025

456,991

CREDITORS
Amounts falling due after more than one
year

8

(450,575

)

(475,665

)

PROVISIONS FOR LIABILITIES (92,662 ) (37,499 )
NET ASSETS/(LIABILITIES) 162,788 (56,173 )

CAPITAL AND RESERVES
Called up share capital 82 82
Retained earnings 162,706 (56,255 )
SHAREHOLDERS' FUNDS 162,788 (56,173 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Marsden Direct Group Limited (Registered number: 04854144)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr C D Marsden - Director


Marsden Direct Group Limited (Registered number: 04854144)

Notes to the Financial Statements
for the Period 1 August 2022 to 31 December 2023

1. STATUTORY INFORMATION

Marsden Direct Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The accounting period was extended from 31 July 2023 to 31 December 2023 for commercial reasons. The comparatives are for a year are therefore not entirely comparable to the current seventeen month period.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, assuming the company will continue to trade. This assumption depends on the ability of the directors to maintain the necessary financial support.

Turnover
Turnover represents net invoiced services supplied, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Licenses are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Plant and machinery - 15% or 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Marsden Direct Group Limited (Registered number: 04854144)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.
Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 15 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Licenses
£   
COST
Additions 5,644
At 31 December 2023 5,644
AMORTISATION
Amortisation for period 96
At 31 December 2023 96
NET BOOK VALUE
At 31 December 2023 5,548

Marsden Direct Group Limited (Registered number: 04854144)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 August 2022 85,876 541,603 7,732
Additions 7,868 12,773 3,048
Disposals - (89,500 ) -
At 31 December 2023 93,744 464,876 10,780
DEPRECIATION
At 1 August 2022 72,280 274,392 5,894
Charge for period 4,296 52,185 726
Eliminated on disposal - (79,145 ) -
At 31 December 2023 76,576 247,432 6,620
NET BOOK VALUE
At 31 December 2023 17,168 217,444 4,160
At 31 July 2022 13,596 267,211 1,838

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 113,090 34,094 782,395
Additions 213,794 11,276 248,759
Disposals (40,800 ) (2,598 ) (132,898 )
At 31 December 2023 286,084 42,772 898,256
DEPRECIATION
At 1 August 2022 80,702 32,973 466,241
Charge for period 29,351 2,725 89,283
Eliminated on disposal (40,130 ) (12 ) (119,287 )
At 31 December 2023 69,923 35,686 436,237
NET BOOK VALUE
At 31 December 2023 216,161 7,086 462,019
At 31 July 2022 32,388 1,121 316,154


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.7.22
£    £   
Trade debtors 146,975 89,945
Amounts owed by group undertakings 121,617 -
Other debtors 151,061 282,678
419,653 372,623

Included in other debtors are prepayments and accrued income of £16,027 (2022 - £11,507).

Marsden Direct Group Limited (Registered number: 04854144)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.7.22
£    £   
Bank loans and overdrafts 55,478 56,076
Hire purchase contracts and finance leases 98,390 92,228
Trade creditors 195,170 298,167
Taxation and social security 60,647 68,025
Other creditors 26,075 14,583
435,760 529,079

Included in other creditors are accruals and deferred income of £26,075 (2022 - £11,809).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.7.22
£    £   
Bank loans 129,218 207,942
Hire purchase contracts and finance leases 321,357 267,723
450,575 475,665

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.7.22
£    £   
Bank loans 184,696 264,018
Hire purchase contracts and finance leases 419,747 359,951
604,443 623,969

Bank loans are secured over the assets of the company.

Hire purchase liabilities are secured on the individual assets being so acquired.

10. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments of £30,950 (2022: £Nil).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2023 and the year ended 31 July 2022:

31.12.23 31.7.22
£    £   
Mr C D Marsden
Balance outstanding at start of period 119,171 63,020
Amounts advanced 60,242 56,151
Amounts repaid (75,965 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 103,448 119,171

Marsden Direct Group Limited (Registered number: 04854144)

Notes to the Financial Statements - continued
for the Period 1 August 2022 to 31 December 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A W Marsden
Balance outstanding at start of period 143,667 14,681
Amounts advanced 56,850 128,986
Amounts repaid (200,517 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - 143,667

The loans were repayable on demand and interest has been charged at the HMRC Official Rate of Interest.