REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
MARK PRESLEY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
MARK PRESLEY LIMITED |
MARK PRESLEY LIMITED (REGISTERED NUMBER: 08201594) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MARK PRESLEY LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 September 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
36a Station Road |
New Milton |
Hampshire |
BH25 6JX |
MARK PRESLEY LIMITED (REGISTERED NUMBER: 08201594) |
BALANCE SHEET |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
MARK PRESLEY LIMITED (REGISTERED NUMBER: 08201594) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Mark Presley Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents gross invoiced sales of services. The company uses the flat rate scheme for value added tax, payments under that scheme being shown as a cost of sales. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
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. |
MARK PRESLEY LIMITED (REGISTERED NUMBER: 08201594) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Additional notes |
Financial Instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
Provisions |
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
MARK PRESLEY LIMITED (REGISTERED NUMBER: 08201594) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £41,625 (2023 - £34,125) were paid to the director. |
During the year, the director provided the company with a loan. The balance due to the director at the balance sheet date was £1,147 (2023 - £962). No interest is payable on this balance and there is no formal repayment plan. |
The director was in receipt of a short term loan from the company amounting to £9,500 which was outstanding at the period end. Interest is to be charged at 3.5%p.a. on this loan. |
8. | POST BALANCE SHEET EVENTS |
The full implications of the Covid-19 outbreak on the Company's assets and trading are as yet unknown and the directors do not therefore feel that there is any requirement to make adjustments to these financial statements. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is M A Presley. |