Marjolo Solutions Ltd
Registered number: 12547163
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 381,719 410,298
Cash at bank and in hand 3,433 7,999
385,152 418,297
Creditors: amounts falling due within one year 4 (667,801) (409,390)
Net current (liabilities)/assets (282,649) 8,907
Net (liabilities)/assets (282,649) 8,907
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (283,649) 7,907
Shareholders' funds (282,649) 8,907
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D J King
Director
Approved by the board on 28 March 2025
Marjolo Solutions Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade with financial support from associated undertakings. The director is planning to maintain this financial support for the company for the foreseeable future.
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 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.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Trade debtors 204,619 147,238
Accrued income 46,435 144,270
Amounts owed by group undertakings and undertakings in which the company has a participating interest 64,438 54,105
Other debtors 66,227 64,685
381,719 410,298
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 72,272 -
Trade creditors 141,780 148,856
Accruals 134,175 81,825
Amounts owed to group undertakings and undertakings in which the company has a participating interest 239,640 114,832
Corporation tax 33,897 2,500
Other taxes and social security costs 46,037 61,377
667,801 409,390
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D J King
Repayable on demand 17,374 20,345 - 37,719
17,374 20,345 - 37,719
6 Related party transactions 2024 2023
£ £
Marjolo Ltd
Parent undertaking of Marjolo Solutions Ltd
Amount due from (to) the related party 1,200
Foundation M Ltd
Associated undertaking of Marjolo Solutions Ltd
Amount due from (to) the related party 63,238
Differentis Ltd
Associated undertaking of Marjolo Solutions Ltd
Amount due from (to) the related party (14,832)
Marjolo Partners Ltd
Associated undertaking of Marjolo Solutions Ltd
Amount due from (to) the related party (224,809)
7 Controlling party
Marjolo Solutions Ltd is a subsidiary of Marjolo Ltd who owns 54% of the share capital. Marjolo Ltd is a company reigstered in the UK. The registered address is:
Acero
1 Concourse Way
Sheffield
S1 2BJ
8 Other information
Marjolo Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Acero
1 Concourse Way
Sheffield
S1 2BJ
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