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Company No: 05324580 (England and Wales)

MARSDEN SW LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

MARSDEN SW LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

MARSDEN SW LTD

BALANCE SHEET

As at 30 April 2024
MARSDEN SW LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 69,305 69,977
69,305 69,977
Current assets
Stocks 20,000 18,000
Debtors 5 9,400 32,727
Cash at bank and in hand 6 25,719 35,204
55,119 85,931
Creditors: amounts falling due within one year 7 ( 85,469) ( 86,219)
Net current liabilities (30,350) (288)
Total assets less current liabilities 38,955 69,689
Creditors: amounts falling due after more than one year 8 ( 24,756) ( 39,680)
Provision for liabilities ( 8,541) ( 10,650)
Net assets 5,658 19,359
Capital and reserves
Called-up share capital 9 1 1
Profit and loss account 5,657 19,358
Total shareholders' funds 5,658 19,359

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Marsden SW Ltd (registered number: 05324580) were approved and authorised for issue by the Board of Directors on 10 January 2025. They were signed on its behalf by:

Mrs A J Marsden
Director
MARSDEN SW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
MARSDEN SW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Marsden SW Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 27 High Street, Totnes, TQ9 5NP.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax. The company recognises revenue based on it's value of the goods and services provided to date.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below.

Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 10 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 18

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 May 2023 132,000 132,000
At 30 April 2024 132,000 132,000
Accumulated amortisation
At 01 May 2023 132,000 132,000
At 30 April 2024 132,000 132,000
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 May 2023 100,390 35,612 9,745 145,747
Additions 0 4,892 1,712 6,604
At 30 April 2024 100,390 40,504 11,457 152,351
Accumulated depreciation
At 01 May 2023 51,887 21,031 2,852 75,770
Charge for the financial year 4,849 1,949 478 7,276
At 30 April 2024 56,736 22,980 3,330 83,046
Net book value
At 30 April 2024 43,654 17,524 8,127 69,305
At 30 April 2023 48,503 14,581 6,893 69,977

5. Debtors

2024 2023
£ £
Trade debtors 1,383 0
Amounts owed by directors 3,195 25,720
Prepayments 1,901 2,682
Other debtors 2,921 4,325
9,400 32,727

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 25,719 35,204

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 17,604 19,320
Trade creditors 5,398 9,509
Accruals 4,430 3,610
Corporation tax 9,481 9,556
Other taxation and social security 25,897 22,474
Other creditors 22,659 21,750
85,469 86,219

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 24,756 39,680

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each 1 1

10. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £360,000 (2023 - £384,000). The financial commitment is in relation to the rent on leasehold property.

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance brought forward 25,720 56,263
Advances made to the directors 13,591 56,871
Repayments made by directors (36,116) (87,414)
Balance carried forward 3,195 25,720

Interest has been charged at the HMRC official rate of 2.25%.