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REGISTERED NUMBER: 04522261 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Mark Adam Limited

Mark Adam Limited (Registered number: 04522261)






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


Mark Adam Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Godfrey
J Benjamin





SECRETARY: J Benjamin





REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW





REGISTERED NUMBER: 04522261 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Mark Adam Limited (Registered number: 04522261)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,889 2,295

CURRENT ASSETS
Stocks 90,393 99,779
Debtors 5 25,335 14,960
Cash at bank 30,679 19,784
146,407 134,523
CREDITORS
Amounts falling due within one year 6 47,941 24,737
NET CURRENT ASSETS 98,466 109,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,355

112,081

CREDITORS
Amounts falling due after more than one
year

7

(24,342

)

(23,552

)

PROVISIONS FOR LIABILITIES 8 (549 ) (502 )
NET ASSETS 76,464 88,027

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 76,364 87,927
SHAREHOLDERS' FUNDS 76,464 88,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Mark Adam Limited (Registered number: 04522261)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 October 2024 and were signed on its behalf by:





A Godfrey - Director


Mark Adam Limited (Registered number: 04522261)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mark Adam Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to these accounts.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Mark Adam Limited (Registered number: 04522261)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Functional currency
The company's functional currency is £ Sterling.

Financial instruments
Financial instruments including bank and cash balances are disclosed at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 68,987
Additions 1,558
At 31 March 2024 70,545
DEPRECIATION
At 1 April 2023 66,692
Charge for year 964
At 31 March 2024 67,656
NET BOOK VALUE
At 31 March 2024 2,889
At 31 March 2023 2,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,335 3,960
Other debtors & prepayments 11,000 11,000
25,335 14,960

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,560 11,250
Trade creditors 34,375 8,396
Tax 2,739 2,738
Social security and other taxes 4,347 2,231
Other Creditors 1,659 122
Directors' current accounts 261 -
47,941 24,737

Mark Adam Limited (Registered number: 04522261)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 24,342 23,552

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 549 502

Deferred
tax
£   
Balance at 1 April 2023 502
Provided during year 47
Balance at 31 March 2024 549

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 'A' Shares £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 87,927
Deficit for the year (2,463 )
Dividends (9,100 )
At 31 March 2024 76,364