Marketing North Limited 03610706 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is printing activities Digita Accounts Production Advanced 6.30.9574.0 true false 03610706 2023-05-01 2024-04-30 03610706 2024-04-30 03610706 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 03610706 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 03610706 core:CurrentFinancialInstruments 2024-04-30 03610706 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03610706 core:Non-currentFinancialInstruments 2024-04-30 03610706 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 03610706 core:Goodwill 2024-04-30 03610706 core:ConstructionInProgressAssetsUnderConstruction 2024-04-30 03610706 core:FurnitureFittings 2024-04-30 03610706 core:PlantMachinery 2024-04-30 03610706 bus:SmallEntities 2023-05-01 2024-04-30 03610706 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03610706 bus:FilletedAccounts 2023-05-01 2024-04-30 03610706 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03610706 bus:RegisteredOffice 2023-05-01 2024-04-30 03610706 bus:Director4 2023-05-01 2024-04-30 03610706 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03610706 core:Goodwill 2023-05-01 2024-04-30 03610706 core:ConstructionInProgressAssetsUnderConstruction 2023-05-01 2024-04-30 03610706 core:FurnitureFittings 2023-05-01 2024-04-30 03610706 core:LeaseholdImprovements 2023-05-01 2024-04-30 03610706 core:PlantMachinery 2023-05-01 2024-04-30 03610706 1 2023-05-01 2024-04-30 03610706 countries:EnglandWales 2023-05-01 2024-04-30 03610706 2023-04-30 03610706 core:Goodwill 2023-04-30 03610706 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30 03610706 core:FurnitureFittings 2023-04-30 03610706 core:PlantMachinery 2023-04-30 03610706 2022-05-01 2023-04-30 03610706 2023-04-30 03610706 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 03610706 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 03610706 core:CurrentFinancialInstruments 2023-04-30 03610706 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03610706 core:Non-currentFinancialInstruments 2023-04-30 03610706 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 03610706 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30 03610706 core:FurnitureFittings 2023-04-30 03610706 core:PlantMachinery 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 03610706

Marketing North Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Marketing North Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Marketing North Limited

(Registration number: 03610706)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

74,968

39,186

Current assets

 

Stocks

6

2,000

2,000

Debtors

7

184,333

163,145

Cash at bank and in hand

 

41,979

60,827

 

228,312

225,972

Creditors: Amounts falling due within one year

8

(121,896)

(113,374)

Net current assets

 

106,416

112,598

Total assets less current liabilities

 

181,384

151,784

Creditors: Amounts falling due after more than one year

8

(107,361)

(98,279)

Net assets

 

74,023

53,505

Capital and reserves

 

Called up share capital

201

201

Retained earnings

73,822

53,304

Shareholders' funds

 

74,023

53,505

 

Marketing North Limited

(Registration number: 03610706)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2024
 

.........................................
N L Muckell
Director

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of printing services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

10% Straight line basis

Leasehold improvements

10% Straight line basis

Furniture and fittings

10% Straight line basis

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for printing services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 5).

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

12,500

12,500

At 30 April 2024

12,500

12,500

Amortisation

At 1 May 2023

12,500

12,500

At 30 April 2024

12,500

12,500

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Leasehold improvements
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

12,620

20,894

134,950

168,464

Additions

-

-

48,051

48,051

At 30 April 2024

12,620

20,894

183,001

216,515

Depreciation

At 1 May 2023

12,620

19,118

97,540

129,278

Charge for the year

-

412

11,857

12,269

At 30 April 2024

12,620

19,530

109,397

141,547

Carrying amount

At 30 April 2024

-

1,364

73,604

74,968

At 30 April 2023

-

1,776

37,410

39,186

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

2,000

2,000

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

26,738

32,021

Amounts owed by related parties

153,827

130,624

Prepayments

 

3,104

-

Other debtors

 

664

500

   

184,333

163,145

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

81,710

28,800

Trade creditors

 

32,040

49,998

Taxation and social security

 

4,725

25,749

Other creditors

 

3,421

8,827

 

121,896

113,374

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

107,361

98,279

 

Marketing North Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

12,000

12,000

Hire purchase contracts

13,010

-

Other borrowings

56,700

16,800

81,710

28,800

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

25,000

Hire purchase contracts

11,165

-

Other borrowings

96,196

73,279

107,361

98,279

10

Parent and ultimate parent undertaking

The company is controlled by Fleet Street Print & Design Limited. The ultimate controlling party is N L Muckell.