REGISTERED NUMBER: |
MARFLEET CIVIL ENGINEERING LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 JUNE 2024 |
REGISTERED NUMBER: |
MARFLEET CIVIL ENGINEERING LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 JUNE 2024 |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
MARFLEET CIVIL ENGINEERING LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
BALANCE SHEET - continued |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Marfleet Civil Engineering Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£) and the financial statements |
are rounded to the nearest Pound. |
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 as modified by the revaluation of certain property, plant and equipment. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment |
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 & Machinery | - | 10% - 25% Straight line |
Motor Vehicles | - | 25% Straight line |
Fixtures & Fittings | - | 25% Straight line |
Freehold property is not depreciated on the grounds that the high residual value renders any depreciation charge immaterial. The director reviews the value on an annual basis for impairment. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Basic financial instruments are recognised at amortised cost. |
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. |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Revaluations | (350,000 | ) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
At the year end the open market value of the investment property was considered by the director. The historic cost of the investment property was £2,473,969. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Tax receivable |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts due to related undertakings | 4,338 | 4,338 |
Other taxes and social |
security |
Directors' loan accounts | 1,080 | 158 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 2-5 years |
MARFLEET CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 08079307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan was secured by way of a fixed and floating charge in favour of Allica Bank Limited over the assets of the company. The charge was satisfied on 1 June 2024. |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 July 2023 |
Revaluation | (350,000 | ) |
Deferred tax on revaluation | 66,500 |
At 30 June 2024 |