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REGISTERED NUMBER: 05137272 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

MARNICK BUILDERS LIMITED

MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)






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


MARNICK BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr N J Chinn
Mr J Smith





REGISTERED OFFICE: Tregoniggie Industrial Estate
Bickland Business Centre
FALMOUTH
Cornwall
TR11 4RS





REGISTERED NUMBER: 05137272 (England and Wales)





ACCOUNTANTS: TC Group
Bickland House
Bickland Water Road
Falmouth
Cornwall
TR11 4SB

MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 667 4,667
Tangible assets 5 73,628 65,069
Investment property 6 400,000 400,000
474,295 469,736

CURRENT ASSETS
Stocks 163,395 229,437
Debtors 7 698,118 536,085
Cash at bank 67,836 6,364
929,349 771,886
CREDITORS
Amounts falling due within one year 8 571,016 452,236
NET CURRENT ASSETS 358,333 319,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,628

789,386

CREDITORS
Amounts falling due after more than one year 9 (199,611 ) (242,219 )

PROVISIONS FOR LIABILITIES (47,123 ) (33,425 )
NET ASSETS 585,894 513,742

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 86,650 93,581
Retained earnings 499,242 420,159
585,894 513,742

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.

MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

BALANCE SHEET - continued
31ST 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 24th October 2024 and were signed on its behalf by:





Mr N J Chinn - Director


MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

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

1. STATUTORY INFORMATION

Marnick Builders 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.


MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

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

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 80,000
AMORTISATION
At 1st April 2023 75,333
Charge for year 4,000
At 31st March 2024 79,333
NET BOOK VALUE
At 31st March 2024 667
At 31st March 2023 4,667

MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2023 271,306
Additions 33,768
Disposals (1,450 )
At 31st March 2024 303,624
DEPRECIATION
At 1st April 2023 206,237
Charge for year 25,068
Eliminated on disposal (1,309 )
At 31st March 2024 229,996
NET BOOK VALUE
At 31st March 2024 73,628
At 31st March 2023 65,069

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 400,000
NET BOOK VALUE
At 31st March 2024 400,000
At 31st March 2023 400,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2022 415,000
Valuation in 2023 (15,000 )
400,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 452,971 309,285
Other debtors 245,147 226,800
698,118 536,085

MARNICK BUILDERS LIMITED (REGISTERED NUMBER: 05137272)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,841 69,082
Hire purchase contracts 7,067 6,129
Trade creditors 328,974 284,495
Taxation and social security 166,944 86,908
Other creditors 7,190 5,622
571,016 452,236

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 173,960 227,811
Hire purchase contracts 25,651 14,408
199,611 242,219

10. RESERVES
Fair
value
reserve
£   
At 1st April 2023 93,581
Revaluation (6,931 )

At 31st March 2024 86,650