Company registration number 03838226 (England and Wales)
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
61,022
39,935
Current assets
Stocks
138,081
176,824
Debtors
5
17,730
16,019
Cash at bank and in hand
67,801
64,304
223,612
257,147
Creditors: amounts falling due within one year
6
(94,160)
(109,619)
Net current assets
129,452
147,528
Total assets less current liabilities
190,474
187,463
Creditors: amounts falling due after more than one year
7
(38,730)
(32,849)
Provisions for liabilities
(15,256)
(9,984)
Net assets
136,488
144,630
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
136,388
144,530
Total equity
136,488
144,630
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -

For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 February 2025
Mr D N Marsden
Director
Company registration number 03838226 (England and Wales)
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

David Marsden Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director is not aware of any material uncertainties affecting the company and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result the director has continued to adopt the going concern basis in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sales of toys, gifts and stationery, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Fixtures and fittings
15% straight line
Computers
33% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
30,000
Amortisation and impairment
At 1 June 2023 and 31 May 2024
30,000
Carrying amount
At 31 May 2024
-
0
At 31 May 2023
-
0
DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
41,168
61,921
19,187
68,410
190,686
Additions
-
0
7,338
-
0
56,475
63,813
Disposals
-
0
-
0
-
0
(68,410)
(68,410)
At 31 May 2024
41,168
69,259
19,187
56,475
186,089
Depreciation and impairment
At 1 June 2023
40,601
60,378
16,708
33,064
150,751
Depreciation charged in the year
285
1,370
1,300
12,406
15,361
Eliminated in respect of disposals
-
0
-
0
-
0
(41,045)
(41,045)
At 31 May 2024
40,886
61,748
18,008
4,425
125,067
Carrying amount
At 31 May 2024
282
7,511
1,179
52,050
61,022
At 31 May 2023
567
1,543
2,479
35,346
39,935

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2024
2023
£
£
Motor vehicles
52,050
35,346
Depreciation
12,406
13,682
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
17,730
16,019

Other debtors comprises overdrawn director's loan account £17,730 (2023 - £16,019).

 

DAVID MARSDEN LIMITED
COWGILLS OF CLITHEROE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
-
0
610
Trade creditors
70,901
79,209
Taxation and social security
16,335
18,381
Other creditors
6,924
11,419
94,160
109,619

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

Other creditors comprise hire purchase obligations £3,780 (2023 - £8,067) and accruals £3,144 (2023 - £3,352).

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
38,730
32,849

Other creditors comprises hire purchase obligations.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
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