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REGISTERED NUMBER: 03500375 (England and Wales)









Financial Statements

for the Period 1 January 2023 to 31 March 2024

for

MARCOL FABRICATIONS (PLASTICS) LIMITED

MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Contents of the Financial Statements
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARCOL FABRICATIONS (PLASTICS) LIMITED

Company Information
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024







DIRECTORS: P J De Wilde
S R Barnes





SECRETARY: K L Spittle





REGISTERED OFFICE: Unit 10
Southfield Road Trading Estate
Nailsea
Bristol
BS48 1JJ





REGISTERED NUMBER: 03500375 (England and Wales)





AUDITORS: Haines Watts (Western) Limited
Chartered Accountants and Statutory Auditors
Bath House
6 - 8 Bath Street
Bristol
BS1 6HL

MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Balance Sheet
31 MARCH 2024

2024 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 37,226 43,219

CURRENT ASSETS
Stocks 5 36,935 42,500
Debtors 6 826,304 186,110
Cash at bank and in hand 10,831 243,263
874,070 471,873
CREDITORS
Amounts falling due within one year 7 (818,436 ) (155,589 )
NET CURRENT ASSETS 55,634 316,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,860

359,503

PROVISIONS FOR LIABILITIES - (10,568 )
NET ASSETS 92,860 348,935

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 92,760 348,835
SHAREHOLDERS' FUNDS 92,860 348,935

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by:




S R Barnes - Director



P J De Wilde - Director


MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Notes to the Financial Statements
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


1. COMPANY INFORMATION

Marcol Fabrications (Plastics) 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.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture & fixtures - 15% on reducing balance
Plant & machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 33% on reducing balance

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

A 50% provision is recognised on slow moving stock.

MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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.

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.

MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 11 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Furniture Plant and Office Motor
& Fixtures machinery Equipment vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 14,588 104,642 18,478 27,190 164,898
Additions - - 8,027 - 8,027
Disposals - - - (5,000 ) (5,000 )
At 31 March 2024 14,588 104,642 26,505 22,190 167,925
DEPRECIATION
At 1 January 2023 12,560 66,596 15,883 26,640 121,679
Charge for period 369 11,295 2,127 229 14,020
Eliminated on disposal - - - (5,000 ) (5,000 )
At 31 March 2024 12,929 77,891 18,010 21,869 130,699
NET BOOK VALUE
At 31 March 2024 1,659 26,751 8,495 321 37,226
At 31 December 2022 2,028 38,046 2,595 550 43,219

5. STOCKS
2024 2022
£    £   
Stocks 36,935 42,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 759,690 180,485
Amounts owed by group undertakings 31,671 -
Deferred tax asset 2,016 -
Prepayments and accrued income 32,927 5,625
826,304 186,110

MARCOL FABRICATIONS (PLASTICS) LIMITED (REGISTERED NUMBER: 03500375)

Notes to the Financial Statements - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 66,922 58,168
Amounts owed to group undertakings 101,000 -
Corporation tax - 39,767
PAYE & social security 6,952 8,500
VAT 118,933 37,257
Other creditors 1,380 -
Directors' current accounts - 72
Accruals and deferred income 523,249 11,825
818,436 155,589

8. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £67,500 (2022: £Nil).

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew J Bracher Bsc FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts (Western) Limited

10. PENSION COMMITMENTS

During the period the company contributed to a defined contribution scheme for its employees. The charge to the profit and loss account for the period was £8,043 (2022: £7,328). The balance outstanding at the year end was £1,380 (2022: £Nil).

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The company's entire share capital was acquired by Reacher Stanson Limited on 27 April 2023, a company registered in England & Wales, whose registered office and principle place of business is Elfed House Oak Tree Court Mulberry Drive, Pontprennau, Cardiff, Wales, CF23 8RS.

The company's ultimate parent is Western Auctions Ltd, which is incorporated in England & Wales.