Registered number
06584908
ORIGINAL MARQUETRY LIMITED
Filleted Accounts
30 June 2024
ORIGINAL MARQUETRY LIMITED
Registered number: 06584908
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 348 702
Current assets
Stocks 52,797 47,933
Cash at bank and in hand 39,519 36,998
92,316 84,931
Creditors: amounts falling due within one year 4 (36,745) (32,332)
Net current assets 55,571 52,599
Net assets 55,919 53,301
Capital and reserves
Called up share capital 1 1
Profit and loss account 55,918 53,300
Shareholder's funds 55,919 53,301
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Giovanni Aversa
Director
Approved by the board on 30 January 2025
ORIGINAL MARQUETRY LIMITED
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 18,290
At 30 June 2024 18,290
Depreciation
At 1 July 2023 17,588
Charge for the year 354
At 30 June 2024 17,942
Net book value
At 30 June 2024 348
At 30 June 2023 702
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,385 -
Taxation and social security costs 6,876 4,905
Other creditors 28,484 27,427
36,745 32,332
5 Related party transactions
The sole director and shareholder operates active loan accounts with the company within which all dividends are declared and drawn upon as required.
Included within other creditors is a balance of £27,045 (Prior year £23,624), owed by the Company to a director and shareholder. No interest is charged on this balance and is repayable on demand. .
6 Controlling party
The Company is wholly under the control of its sole director and shareholder.
7 Other information
ORIGINAL MARQUETRY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
143 Bishopthorpe Road
Westbury On Trym
Bristol
BS10 5AF
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