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Company Registration No. 12615126 (England and Wales)
Marlborough Classics Ltd Unaudited accounts for the year ended 31 May 2024
Marlborough Classics Ltd Unaudited accounts Contents
Page
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Marlborough Classics Ltd Company Information for the year ended 31 May 2024
Director
Ian Coulson
Company Number
12615126 (England and Wales)
Registered Office
20-22 Wenlock Road London N1 7GU England
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Marlborough Classics Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
179,658 
131,646 
Current assets
Inventories
87,400 
116,350 
Debtors
4,721 
20,810 
Cash at bank and in hand
44,580 
33,092 
136,701 
170,252 
Creditors: amounts falling due within one year
(152,162)
(240,105)
Net current liabilities
(15,461)
(69,853)
Total assets less current liabilities
164,197 
61,793 
Creditors: amounts falling due after more than one year
(86,177)
(44,896)
Net assets
78,020 
16,897 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
77,920 
16,797 
Shareholders' funds
78,020 
16,897 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Ian Coulson Director Company Registration No. 12615126
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Marlborough Classics Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Marlborough Classics Ltd is a private company, limited by shares, registered in England and Wales, registration number 12615126. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% SL
Motor vehicles
10% RB
Computer equipment
20% SL
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Marlborough Classics Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
12,821 
154,512 
958 
168,291 
Additions
- 
106,583 
- 
106,583 
Disposals
- 
(55,695)
- 
(55,695)
At 31 May 2024
12,821 
205,400 
958 
219,179 
Depreciation
At 1 June 2023
1,472 
35,045 
128 
36,645 
Charge for the year
1,941 
19,785 
191 
21,917 
On disposals
- 
(19,041)
- 
(19,041)
At 31 May 2024
3,413 
35,789 
319 
39,521 
Net book value
At 31 May 2024
9,408 
169,611 
639 
179,658 
At 31 May 2023
11,349 
119,467 
830 
131,646 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
12,682 
Trade debtors
446 
1,278 
Accrued income and prepayments
4,275 
6,850 
4,721 
20,810 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,004 
- 
Trade creditors
29,750 
19,875 
Taxes and social security
15,624 
17,022 
Other creditors
26,953 
3,778 
Loans from directors
77,981 
199,430 
Accruals
850 
- 
152,162 
240,105 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
86,177 
44,896 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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