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Registered number: 07251258
Mary P's Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07251258
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,042 13,542
Tangible Assets 5 5,460 7,878
6,502 21,420
CURRENT ASSETS
Debtors 6 121,990 140,138
Cash at bank and in hand 27,535 28,746
149,525 168,884
Creditors: Amounts Falling Due Within One Year 7 (27,966 ) (30,481 )
NET CURRENT ASSETS (LIABILITIES) 121,559 138,403
TOTAL ASSETS LESS CURRENT LIABILITIES 128,061 159,823
Creditors: Amounts Falling Due After More Than One Year 8 (20,000 ) (30,000 )
NET ASSETS 108,061 129,823
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 107,961 129,723
SHAREHOLDERS' FUNDS 108,061 129,823
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Vikki Brannagan
Director
14 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mary P's Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07251258 . The registered office is Mary P's Limited, Ashchurch Parkway, Tewkesbury, Gloucestershire, GL20 8TU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 29 (2023: 31)
29 31
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 125,000
As at 31 May 2024 125,000
Amortisation
As at 1 June 2023 111,458
Provided during the period 12,500
As at 31 May 2024 123,958
...CONTINUED
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Page 4
Net Book Value
As at 31 May 2024 1,042
As at 1 June 2023 13,542
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 June 2023 44,132 48,827 6,495 19,934
As at 31 May 2024 44,132 48,827 6,495 19,934
Depreciation
As at 1 June 2023 44,132 44,583 6,495 16,897
Provided during the period - 1,061 - 759
As at 31 May 2024 44,132 45,644 6,495 17,656
Net Book Value
As at 31 May 2024 - 3,183 - 2,278
As at 1 June 2023 - 4,244 - 3,037
Computer Equipment Total
£ £
Cost
As at 1 June 2023 8,134 127,522
As at 31 May 2024 8,134 127,522
Depreciation
As at 1 June 2023 7,537 119,644
Provided during the period 598 2,418
As at 31 May 2024 8,135 122,062
Net Book Value
As at 31 May 2024 (1 ) 5,460
As at 1 June 2023 597 7,878
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,386 4,635
Prepayments and accrued income 9,734 10,407
Other debtors 108,304 124,530
Corporation tax recoverable assets 566 566
121,990 140,138
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,716 16,302
Bank loans and overdrafts 1,393 267
Other taxes and social security 7,646 8,680
Net wages 1,643 66
Other creditors 340 -
Accruals and deferred income 7,200 5,000
Director's loan account 28 166
27,966 30,481
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,000 30,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5