REGISTERED NUMBER: |
Marcom Electronic Components (UK) Ltd |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
Marcom Electronic Components (UK) Ltd |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Marcom Electronic Components (UK) Ltd |
Company Information |
for the Year Ended 31 March 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Statement of Financial Position |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital |
Share premium |
Capital redemption reserve |
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. |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Statement of Financial Position - continued |
31 March 2024 |
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 |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | Statutory information |
Marcom Electronic Components (UK) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Marcom Electronic Components (UK) Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures, fittings and equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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 statement of financial position date. |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | Accounting policies - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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, |
fittings |
and |
equipment |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Depreciation |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 April 2023 |
and 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
6. | Debtors |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | Creditors: amounts falling due within one year |
31/3/24 | 31/3/23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31/3/24 | 31/3/23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
The company leases its property at an annual rent of £28,000 per annum. |
Marcom Electronic Components (UK) Ltd (Registered number: 03832422) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | Directors' advances, credits and guarantees |
The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
31/3/24 | 31/3/23 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
10. | Related party disclosures |
During the year the company incurred administration fees totalling £67,593 ( 2023 - £69,040 ) from Marcom Electronic Components (Asia) Pte Limited. Marcom Electronic Components (Asia) Pte Limited is a company owned and controlled by the company directors. At the year end date the company owed Marcom Electronic Components (Asia) Pte Limited £ Nil ( 2023 - £ Nil ). |