Company registration number 05679878 (England and Wales)
MARCHMENT PROJECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
MARCHMENT PROJECTS LIMITED
COMPANY INFORMATION
Director
Mr R J Smith
Company number
05679878
Registered office
Third Floor
122 Colmore Row
Birmingham
West Midlands
B3 3BD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Metro Bank Plc
119 High Street
Solihull
B91 3SR
MARCHMENT PROJECTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
MARCHMENT PROJECTS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MARCHMENT PROJECTS LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marchment Projects Limited for the year ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Marchment Projects Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marchment Projects Limited and state those matters that we have agreed to state to the board of directors of Marchment Projects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marchment Projects Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Marchment Projects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marchment Projects Limited. You consider that Marchment Projects Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Marchment Projects Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
28 March 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
MARCHMENT PROJECTS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
29,837
38,640
Current assets
Debtors
4
145,978
180,119
Cash at bank and in hand
99,203
133,844
245,181
313,963
Creditors: amounts falling due within one year
5
(184,385)
(208,246)
Net current assets
60,796
105,717
Total assets less current liabilities
90,633
144,357
Provisions for liabilities
6
(6,722)
(9,660)
Net assets
83,911
134,697
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
83,811
134,597
Total equity
83,911
134,697
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 March 2025
Mr R J Smith
Director
Company registration number 05679878 (England and Wales)
MARCHMENT PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
Marchment Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is Third Floor, 122 Colmore Row, Birmingham, West Midlands, B3 3BD.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
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:
Office equipment
20% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
MARCHMENT PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
MARCHMENT PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
3
Tangible fixed assets
Office equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2024
1,112
13,733
66,604
81,449
Additions
225
998
1,223
At 31 January 2025
1,337
14,731
66,604
82,672
Depreciation and impairment
At 1 February 2024
442
12,464
29,903
42,809
Depreciation charged in the year
145
706
9,175
10,026
At 31 January 2025
587
13,170
39,078
52,835
Carrying amount
At 31 January 2025
750
1,561
27,526
29,837
At 31 January 2024
670
1,269
36,701
38,640
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
29,607
23,661
Other debtors
116,371
156,458
145,978
180,119
5
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
164,000
164,000
Taxation and social security
19,010
42,871
Other creditors
1,375
1,375
184,385
208,246
6
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
6,722
9,660
MARCHMENT PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
70
70
70
70
Ordinary B of £1 each
30
30
30
30
100
100
100
100
8
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Loan account
2.25
4,073
46,663
212
(37,500)
13,448
4,073
46,663
212
(37,500)
13,448
The director's loan account was repaid within nine months of the year end.
9
Ultimate controlling party
The ultimate controlling party is Mr R J Smith.