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REGISTERED NUMBER: 03112948 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024


for



Merchandising For Life Limited


Merchandising For Life Limited (Registered number: 03112948)







Contents of the Financial Statements

for the Year Ended 31 January 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




Merchandising For Life Limited


Company Information

for the Year Ended 31 January 2024









DIRECTORS:

R Laing


G G Pettet







SECRETARY:

R Laing







REGISTERED OFFICE:

26 - 28 Headlands


Kettering


Northamptonshire


NN15 7HP







REGISTERED NUMBER:

03112948 (England and Wales)







ACCOUNTANTS:

John S Ward & Co Limited


Chartered Certified Accountants


26-28 Headlands


Kettering


Northamptonshire


NN15 7HP


Merchandising For Life Limited (Registered number: 03112948)


Balance Sheet

31 January 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

5

20,462


11,611




CURRENT ASSETS

Stocks

567,492


235,933



Debtors

6

1,445,909


469,268



Prepayments and accrued income

266,905


171,368



Cash at bank

1,500,980


1,526,955



3,781,286


2,403,524



CREDITORS

Amounts falling due within one year

7

3,078,771


2,061,962



NET CURRENT ASSETS

702,515


341,562



TOTAL ASSETS LESS CURRENT

LIABILITIES

722,977


353,173




CREDITORS

Amounts falling due after more than

one year

8

(18,333

)

(28,333

)



PROVISIONS FOR LIABILITIES

(5,454

)

(2,133

)


NET ASSETS

699,190


322,707




Merchandising For Life Limited (Registered number: 03112948)


Balance Sheet - continued

31 January 2024



2024

2023



Notes

£   

£   

£   

£   


CAPITAL AND RESERVES

Called up share capital

66


66



Capital redemption reserve

34


34



Retained earnings

699,090


322,607



699,190


322,707




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.  


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 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.  


The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:






G G Pettet - Director



Merchandising For Life Limited (Registered number: 03112948)


Notes to the Financial Statements

for the Year Ended 31 January 2024


1.

STATUTORY INFORMATION



Merchandising For Life Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


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.    



Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Plant and machinery etc

-  

33% on cost and 25% on reducing balance



Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


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.


Merchandising For Life Limited (Registered number: 03112948)


Notes to the Financial Statements - continued

for the Year Ended 31 January 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.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS




4.

The average number of employees during the year was 14 (2023 - 10 ) .


DIRECTORS CREDITS AND ADVANCES


Advances to the directors of £59,896 outstanding at the start of the year were repaid during the year. Further advances of £29,896 were made during the year and repaid after the year end. Interest was charged at the official rate.


5.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 February 2023

117,687




Additions

17,549




At 31 January 2024

135,236




DEPRECIATION


At 1 February 2023

106,076




Charge for year

8,698




At 31 January 2024

114,774




NET BOOK VALUE


At 31 January 2024

20,462




At 31 January 2023

11,611




Merchandising For Life Limited (Registered number: 03112948)


Notes to the Financial Statements - continued

for the Year Ended 31 January 2024


6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

1,374,522


368,666




Amounts owed by associates

7,559


7,105




Other debtors

63,828


93,497



1,445,909


469,268




7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Bank loans and overdrafts

10,000


10,000




Trade creditors

970,622


494,717




Taxation and social security

549,175


445,560




Other creditors

1,548,974


1,111,685



3,078,771


2,061,962




8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR


2024

2023


£   

£   



Bank loans

18,333


28,333