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REGISTERED NUMBER: 05115985 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARWELL ACTIVITY CENTRE LIMITED

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

MARWELL ACTIVITY CENTRE LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: D J Cooper
C J Cooper
Mrs V B Cooper





SECRETARY: Mrs V B Cooper





REGISTERED OFFICE: Hurst Lane
Owslebury
Winchester
Hampshire
SO21 1EZ





REGISTERED NUMBER: 05115985 (England and Wales)





ACCOUNTANTS: Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,750 8,750
Tangible assets 5 1,486,883 1,527,721
1,490,633 1,536,471

CURRENT ASSETS
Debtors 6 74,245 28,078
Cash in hand 896 333
75,141 28,411
CREDITORS
Amounts falling due within one year 7 420,065 344,692
NET CURRENT LIABILITIES (344,924 ) (316,281 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,145,709

1,220,190

CREDITORS
Amounts falling due after more than one
year

8

(1,021,517

)

(1,091,035

)

PROVISIONS FOR LIABILITIES (123,689 ) (128,654 )
NET ASSETS 503 501

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 3 1
SHAREHOLDERS' FUNDS 503 501

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

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

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

BALANCE SHEET - continued
31 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 17 October 2024 and were signed on its behalf by:




Mrs V B Cooper - Director



C J Cooper - Director


MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Marwell Activity Centre 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% on reducing balance
Plant and machinery - 15% on reducing balance and 2% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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.

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.

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 52 (2023 - 51 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023 91,250
Charge for year 5,000
At 31 March 2024 96,250
NET BOOK VALUE
At 31 March 2024 3,750
At 31 March 2023 8,750

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 1,064,565 1,068,564 245,701
Additions 15,823 930 754
At 31 March 2024 1,080,388 1,069,494 246,455
DEPRECIATION
At 1 April 2023 306,476 401,111 166,838
Charge for year 15,477 25,454 11,849
At 31 March 2024 321,953 426,565 178,687
NET BOOK VALUE
At 31 March 2024 758,435 642,929 67,768
At 31 March 2023 758,089 667,453 78,863

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 46,680 25,708 2,451,218
Additions - - 17,507
At 31 March 2024 46,680 25,708 2,468,725
DEPRECIATION
At 1 April 2023 25,609 23,463 923,497
Charge for year 4,214 1,351 58,345
At 31 March 2024 29,823 24,814 981,842
NET BOOK VALUE
At 31 March 2024 16,857 894 1,486,883
At 31 March 2023 21,071 2,245 1,527,721

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 3,939 22,990 26,929
Transfer to ownership (3,939 ) - (3,939 )
At 31 March 2024 - 22,990 22,990
DEPRECIATION
At 1 April 2023 1,093 8,276 9,369
Charge for year 427 2,943 3,370
Transfer to ownership (1,520 ) - (1,520 )
At 31 March 2024 - 11,219 11,219
NET BOOK VALUE
At 31 March 2024 - 11,771 11,771
At 31 March 2023 2,846 14,714 17,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 11,425 2,813
Other debtors 62,820 25,265
74,245 28,078

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 99,741 103,050
Hire purchase contracts 5,187 4,566
Trade creditors 51,205 47,541
Taxation and social security 129,370 102,338
Other creditors 134,562 87,197
420,065 344,692

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,006,841 1,041,820
Hire purchase contracts 9,375 14,178
Other creditors 5,301 35,037
1,021,517 1,091,035

MARWELL ACTIVITY CENTRE LIMITED (REGISTERED NUMBER: 05115985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank overdrafts 45,741 30,050
Bank loans 1,060,841 1,114,820
1,106,582 1,144,870

The bank overdraft and loans are secured by a debenture granted by the company and a guarantee for £550,000 granted by Mr Colin Cooper and Mrs Victoria Cooper to NatWest Bank plc. The debenture and guarantee are supported by a first legal charge on the freehold property at Hurst Lane , Owslebury and by a charge over life policy in the name of Digby Cooper a director of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
D J Cooper
Balance outstanding at start of year - -
Amounts advanced 55,678 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,678 -

11. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by the three directors as they have equal shareholdings in the company..

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARWELL ACTIVITY CENTRE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marwell Activity Centre Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marwell Activity Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marwell Activity Centre Limited and state those matters that we have agreed to state to the Board of Directors of Marwell Activity Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marwell Activity Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marwell Activity Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marwell Activity Centre Limited. You consider that Marwell Activity Centre 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 financial statements of Marwell Activity Centre 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 financial statements.






Richard Small & Co
24 Central Precinct
Winchester Road
Chandlers Ford
Eastleigh
Hampshire
SO53 2GA


Date: 17 October 2024