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REGISTERED NUMBER: 07978235 (England and Wales)

















MARC WHEATLEY CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 MARCH 2024






MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MARC WHEATLEY CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 MARCH 2024







DIRECTOR: Mr M Wheatley





REGISTERED OFFICE: Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB





BUSINESS ADDRESS: 67 Church Lane
Kirkby la Thorpe
Sleaford
Lincolnshire
NG34 9NU





REGISTERED NUMBER: 07978235 (England and Wales)





ACCOUNTANTS: Socius Accountants Limited
Excel House
Millbrook Lane
Wragby
Lincolnshire
LN8 5AB

MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

ABRIDGED BALANCE SHEET
28 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 396,783 242,626
Investments 6 92,319 92,319
Investment property 7 171,462 171,462
660,564 506,407

CURRENT ASSETS
Inventories 299,885 266,075
Debtors 1,050,855 808,630
Cash at bank 86,016 498,673
1,436,756 1,573,378
CREDITORS
Amounts falling due within one year 307,622 334,207
NET CURRENT ASSETS 1,129,134 1,239,171
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,789,698

1,745,578

CREDITORS
Amounts falling due after more than one year (201,943 ) (213,603 )

PROVISIONS FOR LIABILITIES (38,495 ) (25,756 )
NET ASSETS 1,549,260 1,506,219

CAPITAL AND RESERVES
Called up share capital 110 10
Retained earnings 1,549,150 1,506,209
1,549,260 1,506,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

ABRIDGED BALANCE SHEET - continued
28 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:





Mr M Wheatley - Director


MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024


1. STATUTORY INFORMATION

Marc Wheatley Construction 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
Revenue 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 2012, is being amortised evenly over its estimated useful life of five 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.

Property, plant and equipment
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.
Freehold property - Straight line over 50 years
Plant and machinery - Straight line over 4 years
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Inventories
Inventories 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 Statement of Income and Retained Earnings, 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.

MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 29 March 2023
and 28 March 2024 131,686
AMORTISATION
At 29 March 2023
and 28 March 2024 131,686
NET BOOK VALUE

At 28 March 2024 -
At 28 March 2023 -

5. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST
At 29 March 2023 457,423
Additions 326,890
Disposals (150,500 )
At 28 March 2024 633,813
DEPRECIATION
At 29 March 2023 214,797
Charge for year 54,608
Eliminated on disposal (32,375 )
At 28 March 2024 237,030
NET BOOK VALUE
At 28 March 2024 396,783
At 28 March 2023 242,626

MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 MARCH 2024


5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 29 March 2023 202,500
Additions 106,909
Disposals (150,500 )
At 28 March 2024 158,909
DEPRECIATION
At 29 March 2023 64,670
Charge for year 27,219
Eliminated on disposal (32,375 )
At 28 March 2024 59,514
NET BOOK VALUE
At 28 March 2024 99,395
At 28 March 2023 137,830

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Investment scooters 43,256 43,256
Investment watches 49,063 49,063
92,319 92,319

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 March 2023
and 28 March 2024 171,462
NET BOOK VALUE
At 28 March 2024 171,462
At 28 March 2023 171,462

Investment property was valued on an open market basis on 28 March 2023 by the director.

MARC WHEATLEY CONSTRUCTION LIMITED (REGISTERED NUMBER: 07978235)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 MARCH 2024


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 March 2024 and 28 March 2023:

2024 2023
£    £   
Mr M Wheatley
Balance outstanding at start of year 611,196 601,691
Amounts advanced 481,248 222,841
Amounts repaid (278,709 ) (213,336 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 813,735 611,196

All advances made to directors are unsecured, repayable on demand and with no interest charged.