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Company No: 02529029 (England and Wales)

MARSHALL ERROCK CONSTRUCTION LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

MARSHALL ERROCK CONSTRUCTION LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

MARSHALL ERROCK CONSTRUCTION LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
MARSHALL ERROCK CONSTRUCTION LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS A C Errock
P G Errock
K Swann
I Wilson (Resigned 14 February 2024)
SECRETARY G Errock
REGISTERED OFFICE 85 High Street
Lees
Oldham
OL4 4LY
United Kingdom
COMPANY NUMBER 02529029 (England and Wales)
CHARTERED ACCOUNTANTS Barlow Andrews LLP
Carlyle House
78 Chorley New Road
Bolton
MARSHALL ERROCK CONSTRUCTION LIMITED

BALANCE SHEET

As at 31 March 2024
MARSHALL ERROCK CONSTRUCTION LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 4 41,481 107,017
41,481 107,017
Current assets
Stocks 42,000 42,000
Debtors 5 205,210 544,914
Cash at bank and in hand 180,239 156,281
427,449 743,195
Creditors: amounts falling due within one year 6 ( 176,538) ( 339,324)
Net current assets 250,911 403,871
Total assets less current liabilities 292,392 510,888
Creditors: amounts falling due after more than one year 7 ( 35,316) ( 93,522)
Provision for liabilities ( 43,139) ( 26,755)
Net assets 213,937 390,611
Capital and reserves
Called-up share capital 8 23 23
Capital redemption reserve 74 74
Profit and loss account 213,840 390,514
Total shareholder's funds 213,937 390,611

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.

Directors' responsibilities:

The financial statements of Marshall Errock Construction Limited (registered number: 02529029) were approved and authorised for issue by the Board of Directors on 04 November 2024. They were signed on its behalf by:

P G Errock
Director
MARSHALL ERROCK CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
MARSHALL ERROCK CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Marshall Errock Construction Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 85 High Street, Lees, Oldham, OL4 4LY, United Kingdom.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Reporting period length

The financial statements cover a 12 month period to 31 March 2024. The comparative amounts cover a 6 month period to 31 March 2023 when it was decided to bring the year end in line with the parent company MEC Plant UK Limited.

These accounts reflect a longer period and comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

Revenue from construction contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors that are classified as debt, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

Year ended
31.03.2024
Period from
01.10.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 21

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 55,718 80,128 92,777 96,064 32,024 356,711
Additions 0 0 17,995 0 0 17,995
Disposals 0 ( 79,100) ( 22,865) 0 0 ( 101,965)
At 31 March 2024 55,718 1,028 87,907 96,064 32,024 272,741
Accumulated depreciation
At 01 April 2023 55,718 19,909 75,885 72,435 25,747 249,694
Charge for the financial year 0 3,047 6,392 3,545 2,337 15,321
Disposals 0 ( 22,233) ( 11,522) 0 0 ( 33,755)
At 31 March 2024 55,718 723 70,755 75,980 28,084 231,260
Net book value
At 31 March 2024 0 305 17,152 20,084 3,940 41,481
At 31 March 2023 0 60,219 16,892 23,629 6,277 107,017

5. Debtors

31.03.2024 31.03.2023
£ £
Trade debtors 143,224 461,160
Other debtors 61,986 83,754
205,210 544,914

6. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Bank loans 58,206 55,357
Trade creditors 68,894 80,711
Amounts owed to Parent undertakings 11,629 4,284
Taxation and social security 29,597 130,997
Obligations under finance leases and hire purchase contracts 0 9,092
Other creditors 8,212 58,883
176,538 339,324

7. Creditors: amounts falling due after more than one year

31.03.2024 31.03.2023
£ £
Other creditors 35,316 93,522

8. Called-up share capital

31.03.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
23 Ordinary shares of £ 1.00 each 23 23

9. Ultimate controlling party

The parent company of Marshall Errock Construction Limited is is MEC Plant UK Limited, a company incorporated in Great Britain. Its registered office is 85 High Street, Lees, Oldham, OL4 4LY.