17 false false false false false false false false false false true false false false false true true No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 74,789 15,456 5,235 20,691 54,098 59,333 xbrli:pure xbrli:shares iso4217:GBP 09248923 2022-11-01 2023-10-31 09248923 2023-10-31 09248923 2022-10-31 09248923 2021-11-01 2022-10-31 09248923 2022-10-31 09248923 2021-10-31 09248923 core:PlantMachinery 2022-11-01 2023-10-31 09248923 core:FurnitureFittings 2022-11-01 2023-10-31 09248923 core:MotorVehicles 2022-11-01 2023-10-31 09248923 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 09248923 bus:Director1 2022-11-01 2023-10-31 09248923 core:WithinOneYear 2023-10-31 09248923 core:WithinOneYear 2022-10-31 09248923 core:PlantMachinery 2022-10-31 09248923 core:FurnitureFittings 2022-10-31 09248923 core:PlantMachinery 2023-10-31 09248923 core:FurnitureFittings 2023-10-31 09248923 core:AfterOneYear 2023-10-31 09248923 core:AfterOneYear 2022-10-31 09248923 core:UKTax 2022-11-01 2023-10-31 09248923 core:UKTax 2021-11-01 2022-10-31 09248923 core:ShareCapital 2023-10-31 09248923 core:ShareCapital 2022-10-31 09248923 core:RetainedEarningsAccumulatedLosses 2023-10-31 09248923 core:RetainedEarningsAccumulatedLosses 2022-10-31 09248923 core:PlantMachinery 2022-10-31 09248923 core:FurnitureFittings 2022-10-31 09248923 bus:SmallEntities 2022-11-01 2023-10-31 09248923 bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09248923 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09248923 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09248923 bus:FullAccounts 2022-11-01 2023-10-31 09248923 bus:OrdinaryShareClass1 2023-10-31 09248923 bus:OrdinaryShareClass1 2022-10-31 09248923 core:ComputerSoftware 2022-11-01 2023-10-31 09248923 core:OfficeEquipment 2022-11-01 2023-10-31 09248923 core:ComputerSoftware 2023-10-31 09248923 core:ComputerSoftware 2022-10-31 09248923 core:OfficeEquipment 2022-10-31 09248923 core:OfficeEquipment 2023-10-31
COMPANY REGISTRATION NUMBER: 09248923
Marfleet Analytical Services Limited
Filleted Unaudited Financial Statements
31 October 2023
Marfleet Analytical Services Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
6
54,098
59,333
Tangible assets
7
328,396
303,607
---------
---------
382,494
362,940
Current assets
Stocks
42,660
31,410
Debtors
8
526,255
430,723
Cash at bank and in hand
4,237
---------
---------
568,915
466,370
Creditors: amounts falling due within one year
9
236,674
215,061
---------
---------
Net current assets
332,241
251,309
---------
---------
Total assets less current liabilities
714,735
614,249
Creditors: amounts falling due after more than one year
10
94,728
30,741
Provisions
Taxation including deferred tax
521
---------
---------
Net assets
619,486
583,508
---------
---------
Capital and reserves
Called up share capital
11
100
100
Profit and loss account
619,386
583,408
---------
---------
Shareholders funds
619,486
583,508
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Marfleet Analytical Services Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
Mr M L Barnard
Director
Company registration number: 09248923
Marfleet Analytical Services Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Ketwell Lane, Hedon, Hull, HU12 8BW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software costs
-
7% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
18% reducing balance
Fixtures and fittings
-
10% reducing balance
Motor vehicles
-
8% reducing balance
Equipment
-
18% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 18 ).
5. Tax on profit/(loss)
Major components of tax income
2023
2022
£
£
Current tax:
UK current tax income
( 26,106)
( 29,500)
Deferred tax:
Origination and reversal of timing differences
521
( 44,493)
--------
--------
Tax on profit/(loss)
( 25,585)
( 73,993)
--------
--------
6. Intangible assets
Intangible asset user defined 1
£
Cost
At 1 November 2022 and 31 October 2023
74,789
--------
Amortisation
At 1 November 2022
15,456
Charge for the year
5,235
--------
At 31 October 2023
20,691
--------
Carrying amount
At 31 October 2023
54,098
--------
At 31 October 2022
59,333
--------
7. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 November 2022
593,150
75,517
19,090
687,757
Additions
90,480
975
91,455
---------
--------
--------
---------
At 31 October 2023
683,630
75,517
20,065
779,212
---------
--------
--------
---------
Depreciation
At 1 November 2022
354,929
19,966
9,255
384,150
Charge for the year
59,166
5,555
1,945
66,666
---------
--------
--------
---------
At 31 October 2023
414,095
25,521
11,200
450,816
---------
--------
--------
---------
Carrying amount
At 31 October 2023
269,535
49,996
8,865
328,396
---------
--------
--------
---------
At 31 October 2022
238,221
55,551
9,835
303,607
---------
--------
--------
---------
8. Debtors
2023
2022
£
£
Trade debtors
243,921
229,764
Amounts owed by undertakings in which the company has a participating interest
90,119
16,061
Deferred tax asset
25,505
Prepayments and accrued income
145
7,261
Corporation tax repayable
81,111
29,500
Directors loan account
122,632
Other debtors
110,959
---------
---------
526,255
430,723
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
14,795
10,092
Trade creditors
117,443
74,019
Accruals and deferred income
78,076
72,393
Social security and other taxes
25,119
58,557
Other creditors
1,241
---------
---------
236,674
215,061
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
94,728
30,741
--------
--------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
12. Directors' advances, credits and guarantees