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REGISTERED NUMBER: 00829375 (England and Wales)















MARCROSS HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARCROSS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: H M Evans
E J Evans
A A Evans
E M Jones





SECRETARY: E M Jones





REGISTERED OFFICE: Marcross Farm
Marcross
Llantwit Major
Glamorgan
CF61 1ZG





REGISTERED NUMBER: 00829375 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 113,637 116,643

CURRENT ASSETS
Debtors 5 9,649 12,007
Cash at bank 55,992 99,766
65,641 111,773
CREDITORS
Amounts falling due within one year 6 54,696 45,891
NET CURRENT ASSETS 10,945 65,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

124,582

182,525

CREDITORS
Amounts falling due after more than one
year

7

(29,910

)

(30,780

)

PROVISIONS FOR LIABILITIES - (833 )
NET ASSETS 94,672 150,912

MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

BALANCE SHEET - continued
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 84,672 140,912
SHAREHOLDERS' FUNDS 94,672 150,912

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th October 2024 and were signed on its behalf by:





H M Evans - Director


MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Marcross Holdings 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.

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.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st April 2023
and 31st March 2024 153,232 9,094 4,558
DEPRECIATION
At 1st April 2023 40,974 5,737 4,558
Charge for year 2,245 504 -
At 31st March 2024 43,219 6,241 4,558
NET BOOK VALUE
At 31st March 2024 110,013 2,853 -
At 31st March 2023 112,258 3,357 -

MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 6,850 3,434 177,168
DEPRECIATION
At 1st April 2023 6,222 3,034 60,525
Charge for year 157 100 3,006
At 31st March 2024 6,379 3,134 63,531
NET BOOK VALUE
At 31st March 2024 471 300 113,637
At 31st March 2023 628 400 116,643

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,603 5,735
Prepayments 7,046 6,272
9,649 12,007

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,912 5,316
Corporation Tax (12 ) -
Social security and other taxes 4,662 -
VAT 2,641 8,349
Other creditors 693 321
Directors' current accounts 24,483 20,864
Accruals and deferred income 7,317 11,041
54,696 45,891

MARCROSS HOLDINGS LIMITED (REGISTERED NUMBER: 00829375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Deferred government grants 29,910 30,780

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

9. RELATED PARTY DISCLOSURES

One of the directors of the company, A A Evans, is also a proprietor of Jack Evans & Sons. During the year the company was charged £65,967 (2023 - £38,000) for office rent and management charges. As at 31 March 2024 the company Jack Evans & Sons £5,600 (2023 - £nil), included in trade creditors..

At year end the company owed Llandow Caravan Park £980 (2023 - £nil), a company under the control of one of the directors A A Evans.


The company had the following outstanding directors loans at the year end:
- H M Evans £10,483 (2023 - £6,864)
- A A Evans £4,000 (2023 - £4,000)
- E M Jones £6,000 (2023 - £6,000)
- E J Evans £4,000 (2023 - £4,000)

Marcross Holdings Limited also incurred £1,300 2023 - £900) of safety management services at the circuit during the year from V Jones. V Jones is a spouse of the director E M Jones. At year end the company owed V M Jones £1,560, included in trade creditors.

All transactions were made at arms length.