1 May 2023 v2025.6.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP008355572023-05-012024-04-30008355572024-04-30008355572023-04-3000835557core:WithinOneYear2024-04-3000835557core:WithinOneYear2023-04-3000835557core:AfterOneYear2024-04-3000835557core:AfterOneYear2023-04-3000835557core:ShareCapital2024-04-3000835557core:ShareCapital2023-04-3000835557core:OtherReservesSubtotal2024-04-3000835557core:OtherReservesSubtotal2023-04-3000835557core:RetainedEarningsAccumulatedLosses2024-04-3000835557core:RetainedEarningsAccumulatedLosses2023-04-3000835557bus:Director12023-05-012024-04-3000835557bus:RegisteredOffice2023-05-012024-04-3000835557core:PlantMachinery2023-05-012024-04-3000835557core:MotorVehicles2023-05-012024-04-30008355572022-05-012023-04-3000835557core:LandBuildings2023-05-0100835557core:PlantMachinery2023-05-01008355572023-05-0100835557core:LandBuildings2024-04-3000835557core:PlantMachinery2024-04-3000835557core:LandBuildings2023-04-3000835557core:PlantMachinery2023-04-300083555712023-05-012024-04-3000835557countries:EnglandWales2023-05-012024-04-3000835557bus:AuditExemptWithAccountantsReport2023-05-012024-04-3000835557bus:PrivateLimitedCompanyLtd2023-05-012024-04-3000835557bus:SmallEntities2023-05-012024-04-3000835557bus:FullAccounts2023-05-012024-04-30
Company registration number:
00835557
Marnita Limited
Unaudited Filleted Financial Statements for the year ended
30 April 2024
Marnita Limited
Statement of Financial Position
30 April 2024
20242023
Note££
Fixed assets    
Tangible assets 5
397,157
 
397,570
 
Current assets    
Stocks
470,695
 
615,920
 
Debtors 6
227,805
 
269,412
 
Cash at bank and in hand
15,988
 
11,682
 
714,488
 
897,014
 
Creditors: amounts falling due within one year 7
(499,864
)
(561,597
)
Net current assets
214,624
 
335,417
 
Total assets less current liabilities 611,781   732,987  
Creditors: amounts falling due after more than one year 8
(10,833
)
(20,833
)
Provisions for liabilities
(72,408
)
(77,792
)
Net assets
528,540
 
634,362
 
Capital and reserves    
Called up share capital
100
 
100
 
Other reserves
280,839
 
280,839
 
Profit and loss account
247,601
 
353,423
 
Shareholders funds
528,540
 
634,362
 
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 January 2025
, and are signed on behalf of the board by:
Mrs J Hughes
Director
Company registration number:
00835557
Marnita Limited
Notes to the Financial Statements
Year ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
22-24 Enterprise Way
,
Empire Business Park
,
Burnley
,
BB12 6LT
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of investment property.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets other than investment properties are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
12
(2023:
12.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 May 2023
375,000
 
188,654
 
563,654
 
Additions -  
3,236
 
3,236
 
At
30 April 2024
375,000
 
191,890
 
566,890
 
Depreciation      
At
1 May 2023
-  
166,084
 
166,084
 
Charge -  
3,649
 
3,649
 
At
30 April 2024
-  
169,733
 
169,733
 
Carrying amount      
At
30 April 2024
375,000
 
22,157
 
397,157
 
At 30 April 2023
375,000
 
22,570
 
397,570
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 May 2023
and
30 April 2024
375,000
 
The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 April 2024 by the directors. The valuation was made on an open market value basis.

6 Debtors

20242023
££
Trade debtors
173,362
 
206,868
 
Other debtors
54,443
 
62,544
 
227,805
 
269,412
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
238,071
 
318,506
 
Taxation and social security
60,971
 
71,815
 
Other creditors
190,822
 
161,276
 
499,864
 
561,597
 

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
10,833
 
20,833
 

9 Guarantees and other financial commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £49,500 (2023 - £53,471).