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Registration number: 10605485

Marloa Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Marloa Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

Detailed Profit and Loss Account

14 to 15

 

Marloa Limited

Company Information

Directors

Mr Martin Leighton Paul

Mrs Leigh Jayne Paul

Registered office

The Old Dairy
Ashton Hill Farm Weston Road
Failand
Bristol
Avon
BS8 3US

Accountants

R S Porter & Co Limited
The Old Dairy
Ashton Hill Farm
Weston Road, Failand
Bristol
BS8 3US

 

Marloa Limited

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Martin Leighton Paul

Mrs Leigh Jayne Paul

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 19 November 2024 and signed on its behalf by:

.........................................
Mr Martin Leighton Paul
Director

.........................................
Mrs Leigh Jayne Paul
Director

 
     
 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Marloa Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Marloa Limited for the year ended 29 February 2024 as set out on pages 4 to 13 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Marloa 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 Marloa Limited and state those matters that we have agreed to state to the Board of Directors of Marloa Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marloa Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Marloa 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 Marloa Limited. You consider that Marloa 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 Marloa 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.

......................................

R S Porter & Co Limited
The Old Dairy
Ashton Hill Farm
Weston Road, Failand
Bristol
BS8 3US

19 November 2024

 

Marloa Limited

Profit and Loss Account for the Year Ended 29 February 2024

Note

2024
£

2023
£

Turnover

3

27,880

20,500

Cost of sales

 

(5,504)

(5,875)

Gross profit

 

22,376

14,625

Administrative expenses

 

(6,090)

(4,078)

Operating profit

4

16,286

10,547

Profit before tax

 

16,286

10,547

Tax on profit

6

3,581

(219)

Profit for the financial year

 

19,867

10,328

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Marloa Limited

Statement of Comprehensive Income for the Year Ended 29 February 2024

2024
£

2023
£

Profit for the year

19,867

10,328

Total comprehensive income for the year

19,867

10,328

 

Marloa Limited

(Registration number: 10605485)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

7

10,246

12,807

Current assets

 

Debtors

8

3,608

-

Cash at bank and in hand

 

1,353

3,346

 

4,961

3,346

Creditors: Amounts falling due within one year

10

(624)

(12,937)

Net current assets/(liabilities)

 

4,337

(9,591)

Net assets

 

14,583

3,216

Capital and reserves

 

Called up share capital

2

2

Retained earnings

14,581

3,214

Shareholders' funds

 

14,583

3,216

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Mr Martin Leighton Paul
Director

.........................................
Mrs Leigh Jayne Paul
Director

 
     
 

Marloa Limited

Statement of Changes in Equity for the Year Ended 29 February 2024

Share capital
£

Retained earnings
£

Total
£

At 1 March 2023

2

3,214

3,216

Profit for the year

-

19,867

19,867

Dividends

-

(8,500)

(8,500)

At 29 February 2024

2

14,581

14,583

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

2

(7,114)

(7,112)

Profit for the year

-

10,328

10,328

At 28 February 2023

2

3,214

3,216

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
The Old Dairy
Ashton Hill Farm Weston Road
Failand
Bristol
Avon
BS8 3US
England

These financial statements were authorised for issue by the Board on 19 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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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.

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.

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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

Fixtures and fittings

20% reducing balance

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.

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

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

2024
£

2023
£

Rendering of services

27,880

20,500

4

Operating profit

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,561

3,202

5

Staff costs

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2024
No.

2023
No.

Other departments

2

2

2

2

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

(3,581)

219

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

13,920

7,100

21,020

At 29 February 2024

13,920

7,100

21,020

Depreciation

At 1 March 2023

6,793

1,420

8,213

Charge for the year

1,425

1,136

2,561

At 29 February 2024

8,218

2,556

10,774

Carrying amount

At 29 February 2024

5,702

4,544

10,246

At 28 February 2023

7,127

5,680

12,807

8

Debtors

Current

Note

2024
£

2023
£

Other debtors

 

27

-

Income tax asset

6

3,581

-

   

3,608

-

9

Cash and cash equivalents

2024
£

2023
£

Cash at bank

1,353

3,346

10

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts due to related parties

-

12,094

Accruals

 

624

624

Income tax liability

6

-

219

 

624

12,937

 

Marloa Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

11

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

Marloa Limited

Detailed Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

turnover (analysed below)

27,880

20,500

Cost of sales (analysed below)

5,504

5,875

Gross profit

22,376

14,625

Gross profit (%)

80.26%

71.34%

Administrative expenses

Establishment costs (analysed below)

1,065

763

General administrative expenses (analysed below)

4,935

3,225

Finance charges (analysed below)

90

90

6,090

4,078

Operating profit

16,286

10,547

Profit before tax

16,286

10,547

 

Marloa Limited

Detailed Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

   

Turnover

Rendering of services, UK

27,880

20,500

   

Cost of sales

Direct costs

1,481

1,205

Motor expenses

1,462

1,468

Depreciation of plant and machinery

1,136

1,420

Depreciation of fixtures and fittings

1,425

1,782

5,504

5,875

   

Establishment costs

Insurance

265

263

Repairs and maintenance

800

500

1,065

763

   

General administrative expenses

Telephone and fax

424

569

Office expenses

1,040

1,040

Computer software and maintenance costs

203

212

Travel and subsistence

2,344

780

Accountancy fees

924

624

4,935

3,225

   

Finance charges

Bank charges

90

90