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Registered number: 11423065
Marbs Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Heelan Associates Ltd
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11423065
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,189 2,736
Tangible Assets 5 5,462 7,213
7,651 9,949
CURRENT ASSETS
Stocks 6 500 500
Debtors 7 23,672 27,846
Cash at bank and in hand 14,426 10,258
38,598 38,604
Creditors: Amounts Falling Due Within One Year 8 (37,562 ) (38,168 )
NET CURRENT ASSETS (LIABILITIES) 1,036 436
TOTAL ASSETS LESS CURRENT LIABILITIES 8,687 10,385
Creditors: Amounts Falling Due After More Than One Year 9 (6,675 ) (7,972 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,038 ) (1,371 )
NET ASSETS 974 1,042
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account 970 1,038
SHAREHOLDERS' FUNDS 974 1,042
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Page 2
For the year ending 30 June 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 directors acknowledge their 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 T Moore
Director
Mrs S Catlin
Director
20 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Marbs Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11423065 . The registered office is 1 The Briars, Waterberry Drive, Waterlooville, PO7 7YH.
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 - Other Intangible
Other intangible assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant & Machinery 5 years
Fixtures & Fittings over the lease term
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
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4. Intangible Assets
Other
£
Cost
As at 1 July 2023 5,474
As at 30 June 2024 5,474
Amortisation
As at 1 July 2023 2,738
Provided during the period 547
As at 30 June 2024 3,285
Net Book Value
As at 30 June 2024 2,189
As at 1 July 2023 2,736
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 7,091 9,293 16,384
Additions 339 - 339
As at 30 June 2024 7,430 9,293 16,723
Depreciation
As at 1 July 2023 4,689 4,482 9,171
Provided during the period 1,161 929 2,090
As at 30 June 2024 5,850 5,411 11,261
Net Book Value
As at 30 June 2024 1,580 3,882 5,462
As at 1 July 2023 2,402 4,811 7,213
6. Stocks
2024 2023
£ £
Stock 500 500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 3,110
Other debtors 23,672 24,736
23,672 27,846
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,197 17,653
Bank loans and overdrafts 6,130 5,232
Other creditors 749 783
Taxation and social security 13,486 14,500
37,562 38,168
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,675 7,972
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mrs Tara Moore 4,304 11,326 (9,927 ) - 5,703
Mrs Sadie Catlin 11,707 10,334 (14,441 ) - 7,600
Included within other debtors is a balance owed to the company by the directors of £13,303 (2023 £16,011). The above loans are unsecured, interest free and repayable on demand.
12. Ultimate Controlling Party
The company's ultimate controlling parties are the directors Mrs S Catlin and Mrs T Moore by virtue of their ownership of 100% of the issued share capital in the company.
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