REGISTERED NUMBER: |
STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
MARRILL (POWYS) LIMITED |
REGISTERED NUMBER: |
STRATEGIC REPORT, |
REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
MARRILL (POWYS) LIMITED |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 4 |
Report of the Independent Auditors | 5 |
Income Statement | 9 |
Other Comprehensive Income | 10 |
Balance Sheet | 11 |
Statement of Changes in Equity | 12 |
Notes to the Financial Statements | 13 |
MARRILL (POWYS) LIMITED |
COMPANY INFORMATION |
for the year ended 31 August 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
STRATEGIC REPORT |
for the year ended 31 August 2024 |
The director presents his strategic report for the year ended 31 August 2024. |
REVIEW OF BUSINESS |
The Company posted a Net Profit for the year ended 31 August 2024 of £0.8m and EBITD of £1.5m. |
The Director considers this as a good performance considering the unprecedented cost inflation and the continued decline of UK automotive vehicle volumes |
The Company's turnover remained at £14m. |
JLR F-Type production finished in Dec 2023, these sales have been replaced by new off-highway contracts, but the Group's sales were reduced during the launch period of this replacement business. |
UK automotive vehicle volumes remain at 80% of historic levels. This is likely to continue in the medium term as the industry continues to develop cheaper electric vehicles. Whilst automotive volumes stagnate, off highway volumes remain buoyant. |
In November 2023, automotive serial production accounted for 40% of sales. In Nov 2025, it will represent 15%. Turnover will be maintained, with high added value business replacing the reduced automotive volumes. |
New business awarded includes; a £4m pa off-highway contract to supply pressed and assembled painted cab doors, a £1.5m pa vertical farming contract, fuel tank shells for JLR after market. |
The Powys facility continued to supply JLR after-market assembly production, primarily Defender and Discovery models. This business continued to perform well and is forecast to increase further in 2025 as F-Type and F-Pace are added to the after-market sales portfolio. This has been augmented with £5m of new off highway door assemblies. |
The Company is now excellently positioned to continue winning new business contracts. The Group's capabilities include; in-house press tooling design and manufacture, 40 presses over 3 sites, a 2,500 tonne press (one of the largest in UK), 6 Trumpf laser cutting cells, Plasma Robot cutting, robot hemming, robot welding and an EDP paint line. |
Marrill has faced the challenge of increasing labour costs and energy costs. Working with suppliers and customers, Marrill has mitigated the impact of these cost increases. |
The Group has recruited, developed and trained a new commercial team which will optimise new business growth opportunities, facilitated by the Group's world class operational KPIs. |
The outlook for 2025 is encouraging with Powys forecasting sales to increase by 10-15% over the next three years. |
The increased profits, together with reduced investment and gearing will see cash availability continue to improve. The Company's cash headroom is currently in excess of £1m. |
Key performance indicators |
The company uses a wide range of key performance indicators to monitor and measure both plant's |
performance to ensure that its customers' expectations are achieved. The KPI data is monitored daily ensuring that its customers' expectations are achieved. |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
STRATEGIC REPORT |
for the year ended 31 August 2024 |
PRINCIPAL RISKS AND UNCERTAINTIES |
Inflation and overseas conflicts are the most notable uncertainties. |
Marrill will reduce the impact of material inflation by continuing to use its purchasing leverage to secure the best price. The UK is seeing evidence of improvement in labour supply, this should ease wage pressure. Marrill benefit from commodity price fluctuation agreements with all its customers. |
Marrill use local steel and aluminium stockists, mitigating supply risk for its main components. |
ON BEHALF OF THE BOARD: |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
REPORT OF THE DIRECTOR |
for the year ended 31 August 2024 |
The director presents his report with the financial statements of the company for the year ended 31 August 2024. |
DIVIDENDS |
The total distribution of dividends for the year ended 31 August 2024 will be £ |
DIRECTOR |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
MARRILL (POWYS) LIMITED |
Opinion |
We have audited the financial statements of Marrill (Powys) Limited (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
MARRILL (POWYS) LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
MARRILL (POWYS) LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Our approach to designing audit procedures by tailoring and directing testing to aid and support the determined level of risk. In response, the procedures we perform to determine the level of risk include: |
- reference to history and experience of the Entity; and |
- enquiry of management, including obtaining and reviewing supporting documentation concerning the Entity's procedures relating to: |
- identifying and complying with laws and regulations and whether they were aware of any instances of non-compliance; and |
- detection and response to risk of fraud and whether they were aware of any actual or suspected instances of fraud; and |
- assessment of the controls and processes that the Entity has in place to mitigate risk. |
Our assessments included the identification of the following potential areas for fraud: |
- management override of control; and |
- revenue recognition, particularly in respect of delivery of services |
These procedures, and the extent to which they are capable of detecting irregularities, including fraud, are detailed below: |
- critically assessed the appropriateness and testing the application of the revenue and cost recognition policies; and |
- testing the appropriateness of accounting estimates, journals and other adjustments made in the preparation of the financial statements; and |
- reviewing the Entity's accounting policies for non-compliance with relevant standards; and |
- making enquiries of management and reviewing correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations. |
In performing an audit in accordance with UK GAAP, we exercise professional judgement and maintain professional scepticism throughout the audit process. |
The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion or override internal controls. There are inherent limitations in the audit procedures performed. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
MARRILL (POWYS) LIMITED |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
1110 Elliott Court |
Coventry Business Park |
Herald Avenue |
Coventry |
West Midlands |
CV5 6UB |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
INCOME STATEMENT |
for the year ended 31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
906,723 | 699,924 |
Other operating income |
OPERATING PROFIT | 4 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL YEAR |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
OTHER COMPREHENSIVE INCOME |
for the year ended 31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
BALANCE SHEET |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 8 |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
13 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | 18 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 19 |
Retained earnings | 20 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
STATEMENT OF CHANGES IN EQUITY |
for the year ended 31 August 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 September 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 August 2024 |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Marrill (Powys) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
• | the requirements of Section 7 Statement of Cash Flows. |
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 |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Hire purchase and leasing commitments |
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 |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Production and management |
2024 | 2023 |
£ | £ |
Director's remuneration |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Hire of plant and machinery |
Other operating leases |
Depreciation - owned assets |
Goodwill amortisation |
Auditors' remuneration |
Foreign exchange differences |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2024 | 2023 |
£ | £ |
Bank loan interest |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Deferred tax |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Total tax charge | 261,166 | 213,520 |
7. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of 1p each |
Interim |
8. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
AMORTISATION |
At 1 September 2023 |
Amortisation for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
9. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2023 |
Additions |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
10. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
Work-in-progress |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors | ( |
) |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 14) |
Hire purchase contracts (see note 15) |
Trade creditors |
Amounts owed to group undertakings |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans (see note 14) |
Hire purchase contracts (see note 15) |
14. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans | 160,804 |
Invoice discounting facility | - | 428,256 |
Amounts falling due between one and two years: |
Other loans - 1-2 years | 210,969 |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
15. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
16. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
The assets of the company are secured by debentures in favour of DBW Investments (3) Limited, Lloyds Bank plc and Lloyds Bank Commercial Finance Limited. These debentures contain fixed and floating charges over all the property or undertaking of the company. |
17. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Tax losses carried forward | ( |
) | ( |
) |
548,525 | 287,359 |
Other provisions |
Other provisions | 183,267 | 383,267 |
Provision for Dilapidations | 90,750 | 99,350 |
Aggregate amounts | 822,542 | 769,976 |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 September 2023 |
Provided during year | ( |
) |
Balance at 31 August 2024 |
18. | ACCRUALS AND DEFERRED INCOME |
2024 | 2023 |
£ | £ |
Deferred government grants | 560,000 | 630,000 |
19. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1p | 90 | 90 |
A Ordinary | 1p | 10 | 10 |
100 | 100 |
MARRILL (POWYS) LIMITED (REGISTERED NUMBER: 13628398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2024 |
20. | RESERVES |
Retained |
earnings |
£ |
At 1 September 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 August 2024 |