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Marman Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Bencroft Dassels
Braughing
Ware
Herts
SG11 2RW
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12298077
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 12,381,500 3,739,182
12,381,500 3,739,182
CURRENT ASSETS
Stocks 5 528,941 4,843,637
Debtors 6 858,845 954,563
Cash at bank and in hand 2,463,678 520,292
3,851,464 6,318,492
Creditors: Amounts Falling Due Within One Year 7 (56,551 ) (29,461 )
NET CURRENT ASSETS (LIABILITIES) 3,794,913 6,289,031
TOTAL ASSETS LESS CURRENT LIABILITIES 16,176,413 10,028,213
Creditors: Amounts Falling Due After More Than One Year 8 (12,075,045 ) (9,757,295 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (68,538 ) (40,651 )
NET ASSETS 4,032,830 230,267
CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 3,600,396 -
Income Statement 432,334 230,167
SHAREHOLDERS' FUNDS 4,032,830 230,267
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For the year ending 30 November 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 Income Statement.
On behalf of the board
Martin Seymour Coulson
Director
20/03/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Marman Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12298077 . The registered office is Bencroft Dassels, Braughing, Herts, Ware, SG11 2RW.
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.

2.3. 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:
Freehold 0%
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% on cost
Included in cost or valuation of land and buildings is freehold property of £12,091,209 (2023 £3,556,897) which is not depreciated.
Freehold land and buildings were valued on an open market basis on 30 November 2024 by RES Property Surveyors.
2.4. 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.
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2.5. 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also 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: 3 (2023: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost or Valuation
As at 1 December 2023 3,556,897 57,771 142,258 71,176
Additions 4,933,916 - - 161,377
Disposals - (31,588 ) - -
Revaluation 3,600,396 - - -
As at 30 November 2024 12,091,209 26,183 142,258 232,553
Depreciation
As at 1 December 2023 - 33,830 35,565 20,162
Provided during the period - 3,476 26,674 12,753
Disposals - (21,549 ) - -
As at 30 November 2024 - 15,757 62,239 32,915
...CONTINUED
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Net Book Value
As at 30 November 2024 12,091,209 10,426 80,019 199,638
As at 1 December 2023 3,556,897 23,941 106,693 51,014
Computer Equipment Total
£ £
Cost or Valuation
As at 1 December 2023 13,805 3,841,907
Additions - 5,095,293
Disposals (12,514 ) (44,102 )
Revaluation - 3,600,396
As at 30 November 2024 1,291 12,493,494
Depreciation
As at 1 December 2023 13,168 102,725
Provided during the period 429 43,332
Disposals (12,514 ) (34,063 )
As at 30 November 2024 1,083 111,994
Net Book Value
As at 30 November 2024 208 12,381,500
As at 1 December 2023 637 3,739,182
5. Stocks
2024 2023
£ £
Work in progress 528,941 4,843,637
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 161 -
Other debtors 30,152 117,219
30,313 117,219
Due after more than one year
Other debtors 828,532 837,344
858,845 954,563
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,986 4,056
Other creditors 6,398 4,279
Taxation and social security 47,167 21,126
56,551 29,461
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 12,075,045 9,757,295
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Revaluation Reserve
£
Surplus on revaluation 3,600,396
As at 30 November 2024 3,600,396
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