Marjolo Partners Ltd
Registered number: 09907013
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 8,200 10,750
Tangible assets 4 2,085 4,907
10,285 15,657
Current assets
Debtors 5 1,164,930 1,212,428
Cash at bank and in hand 8 1,736
1,164,938 1,214,164
Creditors: amounts falling due within one year 6 (1,236,041) (1,051,516)
Net current (liabilities)/assets (71,103) 162,648
Total assets less current liabilities (60,818) 178,305
Creditors: amounts falling due after more than one year 7 (138,889) (177,083)
Net (liabilities)/assets (199,707) 1,222
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 42 42
Profit and loss account (199,849) 1,080
Shareholders' funds (199,707) 1,222
The director is 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 director acknowledges his 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 King
Director
Approved by the board on 28 March 2025
Marjolo Partners 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual vlaue, over the useful like of that asset as follows:
Goodwill 10% straight line
Development costs 33% straight line
Website 33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33.33% on cost
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 22 13
3 Intangible fixed assets
Goodwill Development costs Website Total
£ £ £ £
Cost
At 1 April 2023 12,000 40,502 13,014 65,516
At 31 March 2024 12,000 40,502 13,014 65,516
Amortisation
At 1 April 2023 2,600 39,152 13,014 54,766
Provided during the year 1,200 1,350 - 2,550
At 31 March 2024 3,800 40,502 13,014 57,316
Net book value
At 31 March 2024 8,200 - - 8,200
At 31 March 2023 9,400 1,350 - 10,750
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 19,879
At 31 March 2024 19,879
Depreciation
At 1 April 2023 14,972
Charge for the year 2,822
At 31 March 2024 17,794
Net book value
At 31 March 2024 2,085
At 31 March 2023 4,907
5 Debtors 2024 2023
£ £
Trade debtors 467,647 501,851
Prepayments 65,115 55,878
Accrued income 166,200 117,370
Amounts owed by group undertakings and undertakings in which the company has a participating interest 265,186 458,552
Other debtors 200,782 78,777
1,164,930 1,212,428
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 188,491 102,792
Trade creditors 249,411 210,197
Accruals 158,783 113,473
Amounts owed to group undertakings and undertakings in which the company has a participating interest 306,612 440,882
Corporation tax 38,412 14,637
Other taxes and social security costs 252,642 169,163
Other creditors 41,690 372
1,236,041 1,051,516
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 138,889 177,083
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 42 -
Gain on revaluation of land and buildings - 42
At 31 March 2024 42 42
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D King
Repayable on demand 70,180 146,555 72,500 144,235
70,180 146,555 72,500 144,235
10 Related party transactions 2024 2023
£ £
Marjolo Ltd
Parent undertaking of Marjolo Partners Ltd
Amount due from (to) the related party 10,869 458,552
Marjolo Solutions Ltd
Associated undertaking of Marjolo Partners Ltd
Amount due from (to) the related party 224,809 (54,804)
Differentis Ltd
Associated undertaking of Marjolo Partners Ltd
Amount due from (to) the related party (306,613) (386,078)
Foundation M Ltd
Associated undertaking of Marjolo Partners Ltd
Amount due from (to) the related party 29,507
11 Controlling party
Marjolo Partners Ltd is a subsidiary of Marjolo Ltd who owns 67% of the share capital. Marjolo Ltd is a company registered in the UK. The registered address is:
Acero
1 Concourse Way
Sheffield
S1 2BJ
12 Other information
Marjolo Partners 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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