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Registration number: 01649844

Marcus Limited

Information for Filing with The Registrar

31 December 2023

 

Marcus Limited

Contents

Balance Sheet

1 to 2

Notes to the Accounts

3 to 7

 

Marcus Limited

(Registration number: 01649844)

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1

1

Investments

5

-

2

 

1

3

Current assets

 

Stocks

6

24,876

24,084

Debtors

7

87,411

120,067

Cash at bank and in hand

 

314,480

237,335

 

426,767

381,486

Creditors: Amounts falling due within one year

8

(180,325)

(253,570)

Net current assets

 

246,442

127,916

Total assets less current liabilities

 

246,443

127,919

Creditors: Amounts falling due after more than one year

8

(15,387)

(25,047)

Net assets

 

231,056

102,872

Capital and reserves

 

Called up share capital

9

700,000

700,000

Other reserves

(500,000)

(500,000)

Retained earnings

31,056

(97,128)

Shareholders' funds

 

231,056

102,872

 

Marcus Limited

(Registration number: 01649844)

Balance Sheet

31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:




M. Joslin

Director

 

Marcus Limited

Notes to the Accounts

Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
62 Bagley Lane
Farsley
Pudsey
Leeds
West Yorkshire
LS28 5LY

These financial statements were authorised for issue by the Board on 29 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.

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 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.

Government grants

Grants are recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises corporation tax.

The current corporation 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Marcus Limited

Notes to the Accounts

Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

10% straight line basis

Motor vehicles

25% straight line basis

Office equipment

25% straight line basis

Trade debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost is determined using the first-in, first-out (FIFO) method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

3

Staff numbers

The average number of persons employed by the company during the year, was 8 (2022 - 7).

 

Marcus Limited

Notes to the Accounts

Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor
vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

57,264

97,746

8,821

163,831

At 31 December 2023

57,264

97,746

8,821

163,831

Depreciation

At 1 January 2023

57,264

97,746

8,820

163,830

At 31 December 2023

57,264

97,746

8,820

163,830

Carrying amount

At 31 December 2023

-

-

1

1

At 31 December 2022

-

-

1

1

5

Investments

2023
£

2022
£

Investments in subsidiaries

-

2

Subsidiaries

£

Cost or valuation

At 1 January 2023

2

Disposals

(2)

At 31 December 2023

-

Provision

Carrying amount

At 31 December 2023

-

At 31 December 2022

2

6

Stocks

2023
£

2022
£

Goods for resale

24,876

24,084

 

Marcus Limited

Notes to the Accounts

Year Ended 31 December 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

85,417

120,067

Other debtors

1,994

-

 

87,411

120,067

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

15,976

23,957

Trade creditors

 

22,057

42,355

Amounts due to related parties

11

13,384

84,386

Taxation and social security

 

69,693

49,227

Other creditors

 

59,215

53,645

 

180,325

253,570

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

15,387

25,047

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

200,000

200,000

200,000

200,000

Preference shares of £1 each

500,000

500,000

500,000

500,000

 

700,000

700,000

700,000

700,000

 

Marcus Limited

Notes to the Accounts

Year Ended 31 December 2023

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,387

25,047

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

Other borrowings

5,976

13,957

15,976

23,957

11

Related party transactions

Summary of transactions with other related parties

As at the balance sheet date the amount due to the pension scheme of one of the directors was £27,371 (2022 - £21,887).

As at the balance sheet date the amount due to one of the directors was £13,384. (2022 - £84,386).