2023-04-012024-03-312024-03-31false06522107MARSTE ENGINEERING 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MARSTE ENGINEERING LIMITED

Registered Number
06522107
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MARSTE ENGINEERING LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

CLEMENTS, Martin Arthur

Registered Address

Sun Valley Business Park
Winnall Close
Winchester
SO23 0LB

Registered Number

06522107 (England and Wales)
MARSTE ENGINEERING LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets356,63536,595
56,63536,595
Current assets
Stocks4859500
Debtors537,46337,249
Cash at bank and on hand61,51914,241
99,84151,990
Creditors amounts falling due within one year6(88,796)(67,208)
Net current assets (liabilities)11,045(15,218)
Total assets less current liabilities67,68021,377
Creditors amounts falling due after one year7(23,277)(32,330)
Net assets44,403(10,953)
Capital and reserves
Profit and loss account44,403(10,953)
Shareholders' funds44,403(10,953)
The financial statements were approved and authorised for issue by the Director on 8 November 2024, and are signed on its behalf by:
CLEMENTS, Martin Arthur
Director
Registered Company No. 06522107
MARSTE ENGINEERING LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.Average number of employees

20242023
Average number of employees during the year30
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 23241,34056,22624,100321,666
Additions53,541--53,541
Disposals-(28,601)-(28,601)
At 31 March 24294,88127,62524,100346,606
Depreciation and impairment
At 01 April 23225,09538,05021,926285,071
Charge for year17,4473,63054421,621
On disposals-(16,721)-(16,721)
At 31 March 24242,54224,95922,470289,971
Net book value
At 31 March 2452,3392,6661,63056,635
At 31 March 2316,24518,1762,17436,595
4.Stocks

2024

2023

££
Finished goods859500
Total859500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables34,12330,583
Other debtors3,3406,666
Total37,46337,249
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,7952,155
Taxation and social security58,87934,819
Finance lease and HP contracts-27,105
Other creditors26,1221,629
Accrued liabilities and deferred income-1,500
Total88,79667,208
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts23,27732,330
Total23,27732,330