REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 NOVEMBER 2023 |
FOR |
MARLOW BUILDERS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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. |
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: |
MARLOW BUILDERS LIMITED (REGISTERED NUMBER: 01901336) |
BALANCE SHEET |
29 NOVEMBER 2023 |
29.11.23 | 29.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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 |
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 |
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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 30 November 2022 |
Additions |
At 29 November 2023 |
DEPRECIATION |
At 30 November 2022 |
Charge for year |
At 29 November 2023 |
NET BOOK VALUE |
At 29 November 2023 |
At 29 November 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.11.23 | 29.11.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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 |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.11.23 | 29.11.22 |
£ | £ |
Bank loans |
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 |
Non-cancellable | operating leases |
29.11.23 | 29.11.22 |
£ | £ |
Within one year |
Between one and five years |
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. |