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REGISTERED NUMBER: 03812131 (England and Wales)














MARK BISHOP LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MARK BISHOP LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr M Bishop
Mrs A Bishop
Mr L Bishop





SECRETARY: Mr M Bishop





REGISTERED OFFICE: 4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN





REGISTERED NUMBER: 03812131 (England and Wales)





ACCOUNTANTS: Marsh Accounting Limited
Chartered Accountants
4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MARK BISHOP LTD.


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 Mark Bishop Ltd. for the year ended 31 July 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 Mark Bishop Ltd., 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 Mark Bishop Ltd. and state those matters that we have agreed to state to the Board of Directors of Mark Bishop Ltd., 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 Mark Bishop Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mark Bishop Ltd. 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 Mark Bishop Ltd.. You consider that Mark Bishop Ltd. 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 Mark Bishop Ltd.. 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.






Marsh Accounting Limited
Chartered Accountants
4 Cornfield Terrace
Eastbourne
East Sussex
BN21 4NN


Date: .............................................

MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 85,276 77,190

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 6 363,550 274,289
Cash at bank 229,138 286,104
612,688 580,393
CREDITORS
Amounts falling due within one year 7 239,602 205,454
NET CURRENT ASSETS 373,086 374,939
TOTAL ASSETS LESS CURRENT LIABILITIES 458,362 452,129

CREDITORS
Amounts falling due after more than one year 8 (11,129 ) (9,095 )

PROVISIONS FOR LIABILITIES (21,319 ) (14,666 )
NET ASSETS 425,914 428,368

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 424,914 427,368
SHAREHOLDERS' FUNDS 425,914 428,368

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

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

MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

BALANCE SHEET - continued
31 JULY 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 10 January 2025 and were signed on its behalf by:





Mr M Bishop - Director


MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Mark Bishop Ltd. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities of the actual completion of a proportion of the total services to be rendered.

When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.

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.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks 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 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.


MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. 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
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 18 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 9,665 192,313 11,634 213,612
Additions 123 36,490 - 36,613
At 31 July 2024 9,788 228,803 11,634 250,225
DEPRECIATION
At 1 August 2023 8,963 116,113 11,346 136,422
Charge for year 206 28,171 150 28,527
At 31 July 2024 9,169 144,284 11,496 164,949
NET BOOK VALUE
At 31 July 2024 619 84,519 138 85,276
At 31 July 2023 702 76,200 288 77,190

MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 August 2023 62,599
Additions 36,490
Transfer to ownership (44,004 )
At 31 July 2024 55,085
DEPRECIATION
At 1 August 2023 27,388
Charge for year 14,577
Transfer to ownership (22,092 )
At 31 July 2024 19,873
NET BOOK VALUE
At 31 July 2024 35,212
At 31 July 2023 35,211

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 142,084 166,826
Amounts recoverable on contracts 30,400 18,000
Other debtors 191,066 89,463
363,550 274,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 9)
15,081

7,400
Trade creditors 88,577 89,587
Taxation and social security 77,027 68,444
Other creditors 58,917 40,023
239,602 205,454

MARK BISHOP LTD. (REGISTERED NUMBER: 03812131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases (see note 9)
11,129

9,095

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2024 2023 2024 2023
£    £    £    £   
Net obligations repayable:
Within one year 12,081 4,400 3,000 3,000
Between one and five years 5,034 - 6,095 9,095
17,115 4,400 9,095 12,095

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts and finance leases 26,210 16,495

Liabilities under hire purchase agreements are secured against the assets that they relate to.

11. RELATED PARTY DISCLOSURES

The following amounts are included in other debtors:

£69,389 (2023 - £69,488) owed by Mark Bishop Holdings Ltd a company of which Mr M Bishop and Mrs A Bishop are directors.This loan is interest free and repayable on demand.

£100,258 (2023 - £nil) owed by Mr M Bishop and Mrs A Bishop, directors and shareholders of the company. Interest has been charged in accordance with HM Revenue & Customs official rates. This loan is repayable on demand.