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REGISTERED NUMBER: 01901336 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 NOVEMBER 2023

FOR

MARLOW BUILDERS LIMITED

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


MARLOW BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 NOVEMBER 2023







DIRECTORS: S D Berry
S N McKnight





REGISTERED OFFICE: Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS





REGISTERED NUMBER: 01901336 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 29 NOVEMBER 2023

The directors present their report with the financial statements of the company for the year ended 29 November 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 30 November 2022 to the date of this report.

S D Berry
S N McKnight

Following on from the inflationary pressures of 2022, those pressures continued into 2023 which caused some pain to the business. Sporadic workload, delayed contracts and lack of larger schemes (£1-3m) were also problematic causing a drop in turnover. All projects completed returned a modest profit but was insufficient to cover costs. Investments in management software, business development and additional staff also increased costs.
The 2023-24 year has been very positive with an improvement in turnover. The issues of previous years have been ironed out and the previous investments in software and people are paying off. The business has returned to profit and a positive net asset position, and has an excellent workload running into 2024-25

Marlow continues to be selective with regards to the types of projects they carry out, ensuring projects are suitable and with stable and reliable clients.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S N McKnight - Director


23 October 2024

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

BALANCE SHEET
29 NOVEMBER 2023

29.11.23 29.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,178 30,211

CURRENT ASSETS
Debtors 5 697,262 808,791
Cash at bank and in hand 94,131 231,792
791,393 1,040,583
CREDITORS
Amounts falling due within one year 6 913,770 882,596
NET CURRENT (LIABILITIES)/ASSETS (122,377 ) 157,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

(95,199

)

188,198

CREDITORS
Amounts falling due after more than one
year

7

(17,500

)

(27,500

)

PROVISIONS FOR LIABILITIES (1,544 ) (2,523 )
NET (LIABILITIES)/ASSETS (114,243 ) 158,175

CAPITAL AND RESERVES
Called up share capital 57 57
Retained earnings (114,300 ) 158,118
(114,243 ) 158,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2023 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.

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

BALANCE SHEET - continued
29 NOVEMBER 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 and authorised for issue by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





S N McKnight - Director


MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023

1. STATUTORY INFORMATION

Marlow Builders Limited is a private company, limited by shares, registered in England and Wales. Its registered office is Church View Chambers, 38 Market Square, Toddington, Bedfordshire, England, LU5 6BS and its principal place of business is Eagle House, Unit 4, Eagle Centre Way, Luton, Bedfordshire, LU4 9US.

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 (also described as sales or turnover) is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue Recognition

Revenue is recognised on the sale of goods when the goods are delivered and title has passed, and is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

The cost of tangible fixed assets includes only expenditure directly incurred in bringing the assets into working condition for their intended use. Borrowing costs are not capitalised.

Taxation
Taxation for the year 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences (including fair value adjustments) that have originated but not reversed at the balance sheet date except that a deferred tax asset is only recognised to the extent that it is regarded as recoverable. Deferred tax is measured using the tax rate that is expected to apply in the periods in which the timing differences are expected to reverse.

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 30 November 2022 11,812 40,050 52,512 104,374
Additions - 2,955 - 2,955
At 29 November 2023 11,812 43,005 52,512 107,329
DEPRECIATION
At 30 November 2022 9,623 22,928 41,612 74,163
Charge for year 328 2,935 2,725 5,988
At 29 November 2023 9,951 25,863 44,337 80,151
NET BOOK VALUE
At 29 November 2023 1,861 17,142 8,175 27,178
At 29 November 2022 2,189 17,122 10,900 30,211

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Trade debtors 682,333 722,398
Amounts owed by group undertakings 10,212 71,736
Other debtors 4,717 14,657
697,262 808,791

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 8) - 1,313
Trade creditors 676,369 723,967
Taxation and social security 219,911 141,650
Other creditors 7,490 5,666
913,770 882,596

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.11.23 29.11.22
£    £   
Bank loans 17,500 27,500

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.11.23 29.11.22
£    £   
Net obligations repayable:
Within one year - 1,313

Non-cancellable operating leases
29.11.23 29.11.22
£    £   
Within one year 17,804 18,866
Between one and five years 12,538 19,299
30,342 38,165

MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 NOVEMBER 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 November 2023 and 29 November 2022:

29.11.23 29.11.22
£    £   
Director 1
Balance outstanding at start of year 1,716 (340 )
Amounts advanced - 44,368
Amounts repaid (1,716 ) (42,312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,716

10. CHARGES

Barclays Bank Plc has a fixed charge in place upon monies held in the business.