IRIS Accounts Production v24.3.2.46 10010438 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh100104382023-02-28100104382024-02-29100104382023-03-012024-02-29100104382022-02-28100104382022-03-012023-02-28100104382023-02-2810010438ns15:EnglandWales2023-03-012024-02-2910010438ns14:PoundSterling2023-03-012024-02-2910010438ns10:Director12023-03-012024-02-2910010438ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910010438ns10:SmallEntities2023-03-012024-02-2910010438ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2910010438ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910010438ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910010438ns10:FullAccounts2023-03-012024-02-291001043812023-03-012024-02-2910010438ns10:OrdinaryShareClass12023-03-012024-02-2910010438ns10:Director22023-03-012024-02-2910010438ns10:RegisteredOffice2023-03-012024-02-2910010438ns5:CurrentFinancialInstruments2024-02-2910010438ns5:CurrentFinancialInstruments2023-02-2810010438ns5:Non-currentFinancialInstruments2024-02-2910010438ns5:Non-currentFinancialInstruments2023-02-2810010438ns5:ShareCapital2024-02-2910010438ns5:ShareCapital2023-02-2810010438ns5:RetainedEarningsAccumulatedLosses2024-02-2910010438ns5:RetainedEarningsAccumulatedLosses2023-02-2810010438ns5:NetGoodwill2023-03-012024-02-2910010438ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2910010438ns5:NetGoodwill2023-02-2810010438ns5:NetGoodwill2024-02-2910010438ns5:NetGoodwill2023-02-2810010438ns5:PlantMachinery2023-02-2810010438ns5:PlantMachinery2023-03-012024-02-2910010438ns5:PlantMachinery2024-02-2910010438ns5:PlantMachinery2023-02-2810010438ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2910010438ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2810010438ns10:OrdinaryShareClass12024-02-29100104381ns10:Director12023-02-28100104381ns10:Director12022-02-28100104381ns10:Director12023-03-012024-02-29100104381ns10:Director12022-03-012023-02-28100104381ns10:Director12024-02-29100104381ns10:Director12023-02-2810010438ns10:Director222023-02-2810010438ns10:Director222022-02-2810010438ns10:Director222023-03-012024-02-2910010438ns10:Director222022-03-012023-02-2810010438ns10:Director222024-02-2910010438ns10:Director222023-02-28
REGISTERED NUMBER: 10010438 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Marais Associates Limited

Marais Associates Limited (Registered number: 10010438)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Marais Associates Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs L Marais
Mr E Marais





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 10010438 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Marais Associates Limited (Registered number: 10010438)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 103,358 105,099
103,358 105,099

CURRENT ASSETS
Stocks 83,600 68,000
Debtors 6 382,209 281,426
Cash at bank and in hand 286 7,577
466,095 357,003
CREDITORS
Amounts falling due within one year 7 289,039 155,535
NET CURRENT ASSETS 177,056 201,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

280,414

306,567

CREDITORS
Amounts falling due after more than one
year

8

(20,684

)

(73,723

)

PROVISIONS FOR LIABILITIES (19,250 ) (19,495 )
NET ASSETS 240,480 213,349

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 240,380 213,249
SHAREHOLDERS' FUNDS 240,480 213,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Marais Associates Limited (Registered number: 10010438)

Balance Sheet - continued
29 February 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 5 December 2024 and were signed on its behalf by:





Mrs L Marais - Director


Marais Associates Limited (Registered number: 10010438)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Marais Associates 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
Turnover 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 2016, 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.

Tangible fixed assets
Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Improvements to property - 20% reducing value.
Plant & machinery - 20% reducing value.
Fixtures & fittings - 20% reducing value.
Computer equipment - 33.33% straight line.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

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.

Marais Associates Limited (Registered number: 10010438)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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

The average number of employees during the year was 9 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 8,000
AMORTISATION
At 1 March 2023
and 29 February 2024 8,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 202,871
Additions 25,048
At 29 February 2024 227,919
DEPRECIATION
At 1 March 2023 97,772
Charge for year 26,789
At 29 February 2024 124,561
NET BOOK VALUE
At 29 February 2024 103,358
At 28 February 2023 105,099

Marais Associates Limited (Registered number: 10010438)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 31,736 31,736
Other debtors 350,473 249,690
382,209 281,426

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 44,961 -
Hire purchase contracts 39,630 15,243
Trade creditors 11,028 8,189
Taxation and social security 168,006 72,940
Other creditors 25,414 59,163
289,039 155,535

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 20,684 73,723

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 ordinary ordin ary 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mrs L Marais
Balance outstanding at start of year 119,245 61,283
Amounts advanced 89,320 119,245
Amounts repaid (61,328 ) (61,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 147,237 119,245

Marais Associates Limited (Registered number: 10010438)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr E Marais
Balance outstanding at start of year 119,245 61,283
Amounts advanced 89,320 119,245
Amounts repaid (61,328 ) (61,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 147,237 119,245

Interest on the above loans has been charged at 2.5%.