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Registration number: 14067717

Marleway Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Marleway Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Marleway Limited

Company Information

Director

Miss Marlena Malkiewicz

Registered office

Unit 1D
Mill Park Indistrial Estate
Exeter
Devon
EX5 1EL

Accountants

Neil Wilson Accountancy Limited
Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

Marleway Limited

(Registration number: 14067717)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

9,840

11,070

Tangible assets

5

9,639

11,191

 

19,479

22,261

Current assets

 

Stocks

6

176,600

-

Debtors

7

137,746

235,034

Cash at bank and in hand

 

48,885

30,618

 

363,231

265,652

Creditors: Amounts falling due within one year

8

(348,364)

(260,648)

Net current assets

 

14,867

5,004

Net assets

 

34,346

27,265

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

34,345

27,264

Shareholders' funds

 

34,346

27,265

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 November 2024
 

.........................................
Miss Marlena Malkiewicz
Director

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Unit 1D
Mill Park Indistrial Estate
Exeter
Devon
EX5 1EL

These financial statements were authorised for issue by the director on 12 November 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

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

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Office Equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Stocks

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

12,300

12,300

At 30 April 2024

12,300

12,300

Amortisation

At 1 May 2023

1,230

1,230

Amortisation charge

1,230

1,230

At 30 April 2024

2,460

2,460

Carrying amount

At 30 April 2024

9,840

9,840

At 30 April 2023

11,070

11,070

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

9,035

5,887

14,922

Additions

-

1,661

1,661

At 30 April 2024

9,035

7,548

16,583

Depreciation

At 1 May 2023

2,259

1,472

3,731

Charge for the year

1,694

1,519

3,213

At 30 April 2024

3,953

2,991

6,944

Carrying amount

At 30 April 2024

5,082

4,557

9,639

At 30 April 2023

6,776

4,415

11,191

6

Stocks

2024
£

2023
£

Other inventories

176,600

-

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

56,951

-

Amounts owed by related parties

11

80,795

65,850

Other debtors

 

-

169,184

   

137,746

235,034

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

15,649

17,845

Taxation and social security

133,679

194,628

Accruals and deferred income

3,381

3,675

Other creditors

195,655

44,500

348,364

260,648

Creditors: amounts falling due after more than one year

2024
£

2023
£

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

10

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £25,000.00 (2023 - £25,000.00) per ordinary share

 

25,000

 

25,000

         

11

Related party transactions

Transactions with the director

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Miss Marlena Malkiewicz

Loan to / From Director

169,184

(194,072)

(24,888)

       
     

 

 

Marleway Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 25 April 2022
£

Advances to director
£

At 30 April 2023
£

Miss Marlena Malkiewicz

Loan to / From Director

-

169,184

169,184

       
     

 

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

13,618

Dividends paid to the director

   

2024
£

 

2023
£

Miss Marlena Malkiewicz

       

Interim dividend

 

25,000

 

-