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REGISTERED NUMBER: 06183228 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Marchwoods (Motor Engineers) Limited

Marchwoods (Motor Engineers) Limited (Registered number: 06183228)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marchwoods (Motor Engineers) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N J Robinson
Mrs V Robinson





SECRETARY: Mrs V Robinson





REGISTERED OFFICE: Unit 14, Highfield Industrial Estate
Warren Road
Folkestone
Kent
CT19 6DD





REGISTERED NUMBER: 06183228 (England and Wales)





ACCOUNTANTS: Beverton & Co.
Chartered Accountants
Maybrook House
York Street
Dover
Kent
CT17 9FA

Marchwoods (Motor Engineers) Limited (Registered number: 06183228)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 40,000 45,000
Property, plant and equipment 5 34,582 38,516
74,582 83,516

CURRENT ASSETS
Inventories 4,000 4,000
Debtors 6 71,030 19,812
Cash at bank and in hand 209,507 219,724
284,537 243,536
CREDITORS
Amounts falling due within one year 7 135,940 123,483
NET CURRENT ASSETS 148,597 120,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,179

203,569

PROVISIONS FOR LIABILITIES 8,646 7,318
NET ASSETS 214,533 196,251

CAPITAL AND RESERVES
Called up share capital 190 190
Retained earnings 214,343 196,061
SHAREHOLDERS' FUNDS 214,533 196,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Marchwoods (Motor Engineers) Limited (Registered number: 06183228)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:




N J Robinson - Director



Mrs V Robinson - Director


Marchwoods (Motor Engineers) Limited (Registered number: 06183228)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Marchwoods (Motor Engineers) 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Marchwoods (Motor Engineers) Limited (Registered number: 06183228)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023 55,000
Charge for year 5,000
At 31 March 2024 60,000
NET BOOK VALUE
At 31 March 2024 40,000
At 31 March 2023 45,000

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 140,494
Additions 6,600
At 31 March 2024 147,094
DEPRECIATION
At 1 April 2023 101,978
Charge for year 10,534
At 31 March 2024 112,512
NET BOOK VALUE
At 31 March 2024 34,582
At 31 March 2023 38,516

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 315 5,017
Other debtors 70,715 14,795
71,030 19,812

Marchwoods (Motor Engineers) Limited (Registered number: 06183228)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 29,333 31,851
Taxation and social security 84,330 72,226
Other creditors 22,277 19,406
135,940 123,483

8. RELATED PARTY DISCLOSURES

The company is controlled and beneficially owned by the directors.