Registration number:
Mark Ballard Limited
for the Year Ended 31 March 2024
Mark Ballard Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Mark Ballard Limited
Company Information
Director |
Mr Mark Ballard |
Company secretary |
Britannia Accountancy & Tax Services Ltd |
Registered office |
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Accountants |
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Mark Ballard Limited
Director's Report for the Year Ended 31 March 2024
The director presents his report and the financial statements for the year ended 31 March 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is Plumbing & Heating Engineers
Small companies provision statement
This report has 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.
Approved by the
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Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mark Ballard Limited
for the Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mark Ballard Limited for the year ended 31 March 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Mark Ballard Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mark Ballard Limited and state those matters that we have agreed to state to the Board of Directors of Mark Ballard Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mark Ballard Limited and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Mark Ballard Limited
It is your duty to ensure that Mark Ballard Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mark Ballard Limited. You consider that Mark Ballard Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Mark Ballard Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Whiteley
Fareham
Hampshire
PO15 7AH
Mark Ballard Limited
Profit and Loss Account for the Year Ended 31 March 2024
Note |
2024 |
2023 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
13,529 |
12,927 |
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Profit before tax |
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Profit for the financial year |
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The above results were derived from continuing operations.
Mark Ballard Limited
Statement of Comprehensive Income for the Year Ended 31 March 2024
2024 |
2023 |
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Profit for the year |
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Total comprehensive income for the year |
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Mark Ballard Limited
(Registration number: 04209366)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
70,030 |
70,030 |
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Retained earnings |
1,719 |
190 |
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Shareholders' funds |
71,749 |
70,220 |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his 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.
Approved and authorised by the
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Mark Ballard Limited
Statement of Changes in Equity for the Year Ended 31 March 2024
Share capital |
Retained earnings |
Total |
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At 1 April 2023 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
At 31 March 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 April 2022 |
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|
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Profit for the year |
- |
|
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Dividends |
- |
( |
( |
At 31 March 2023 |
70,030 |
190 |
70,220 |
Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
23 Jellicoe Avenue
Gosport
Hampshire
PO12 2PA
These financial statements were authorised for issue by the
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.
Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 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 |
18% on net book value |
Vehicles |
18% on net book value |
Office equipment |
18% on net book value |
Furniture and fittings |
18% on net book value |
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% on cost |
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.
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.
Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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Amortisation expense |
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Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Amortisation |
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At 1 April 2023 |
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Amortisation charge |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Revaluations |
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- |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
- |
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Charge for the year |
- |
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At 31 March 2024 |
- |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Included within the net book value of land and buildings above is £315,050 (2023 - £303,550) in respect of freehold land and buildings.
Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Stocks |
2024 |
2023 |
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Work in progress |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
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|
10 |
|
10 |
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70,000 |
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70,000 |
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|
10 |
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10 |
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|
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Mark Ballard Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
2024 |
2023 |
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Other borrowings |
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Dividends |
Final dividends paid
2024 |
2023 |
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Final dividend of £ |
- |
- |
Interim dividends paid
2024 |
2023 |
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Interim dividend of £ |
- |
- |
Interim dividend of £ |
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Interim dividend of £ |
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