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Registration number: 12942763

Marsk Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Marsk Group Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Income Statement

4

Statement of Comprehensive Income

5

Statement of Financial Position

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Marsk Group Limited

Company Information

Director

Mr David Marskell

Registered office

5 Theobald Court
Theobald Street
Borehamwood
Hertfordshire
WD6 4RN

Accountants

Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN

 

Marsk Group Limited

Director's Report for the Year Ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mrs Debra Katy Marskell (Deceased 30 April 2024)

The following director was appointed after the year end:

Mr David Marskell (appointed 22 April 2024)

Principal activity

The principal activity of the company is supply and erection of scaffolding.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr David Marskell
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Marsk Group Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marsk Group Limited for the year ended 31 October 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Marsk Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Marsk Group Limited and state those matters that we have agreed to state to the Board of Directors of Marsk Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marsk Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Marsk Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Marsk Group Limited. You consider that Marsk Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Marsk Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN

28 October 2024

 

Marsk Group Limited

Income Statement for the Year Ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

124,550

10,838

Cost of sales

 

(75,507)

-

Gross profit

 

49,043

10,838

Administrative expenses

 

(23,442)

(3,270)

Operating profit

 

25,601

7,568

Profit before tax

25,601

7,568

Tax on profit

 

(4,864)

(1,438)

Profit for the financial year

 

20,737

6,130

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Marsk Group Limited

Statement of Comprehensive Income for the Year Ended 31 October 2023

2023
£

2022
£

Profit for the year

20,737

6,130

Total comprehensive income for the year

20,737

6,130

 

Marsk Group Limited

(Registration number: 12942763)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

78,907

3,346

Cash at bank and in hand

 

4,481

4

 

83,388

3,350

Creditors: Amounts falling due within one year

5

(68,421)

(3,120)

Net assets

 

14,967

230

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

14,867

130

Shareholders' funds

 

14,967

230

For the financial year ending 31 October 2023 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 his 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.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr David Marskell
Director

 

Marsk Group Limited

Statement of Changes in Equity for the Year Ended 31 October 2023

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

100

130

230

Profit for the year

-

20,737

20,737

Dividends

-

(6,000)

(6,000)

At 31 October 2023

100

14,867

14,967

Share capital
£

Retained earnings
£

Total
£

At 1 November 2021

100

-

100

Profit for the year

-

6,130

6,130

Dividends

-

(6,000)

(6,000)

At 31 October 2022

100

130

230

 

Marsk Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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:
5 Theobald Court
Theobald Street
Borehamwood
Hertfordshire
WD6 4RN
United Kingdom

These financial statements were authorised for issue by the director on 28 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Marsk Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

 

Marsk Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Current

2023
£

2022
£

Trade debtors

55,218

-

Other debtors

23,689

3,346

 

78,907

3,346

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

253

253

Taxation and social security

6,647

1,438

Accruals and deferred income

51,200

1,200

Other creditors

10,321

229

68,421

3,120

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Dividends

2023

2022

£

£

Interim dividend of £60.00 (2022 - £60.00) per ordinary share

6,000

6,000

 

 

8

Controlling Party

The ultimate controlling party is Director.