Company registration number 15119459 (England and Wales)
MARCO GLOBAL PAYROLL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MARCO GLOBAL PAYROLL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
MARCO GLOBAL PAYROLL LTD (REGISTERED NUMBER: 15119459)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
3
2,056
Current assets
Debtors
4
86,879
Cash at bank and in hand
826,969
913,848
Creditors: amounts falling due within one year
5
(864,470)
Net current assets
49,378
Total assets less current liabilities
51,434
Provisions for liabilities
(514)
Net assets
50,920
Capital and reserves
Called up share capital
10,000
Profit and loss reserves
40,920
Total equity
50,920
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 period ended 30 September 2024 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 members have not required the company to obtain an audit of its financial statements for the period 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 4 April 2025
L Tao
Director
MARCO GLOBAL PAYROLL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Marco Global Payroll Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, England, WC2R 0LT.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.4
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:
Computers
3 years straight line
1.5
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.
MARCO GLOBAL PAYROLL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
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 period was:
2024
Number
Total
3
MARCO GLOBAL PAYROLL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 6 September 2023
Additions
2,765
At 30 September 2024
2,765
Depreciation and impairment
At 6 September 2023
Depreciation charged in the period
709
At 30 September 2024
709
Carrying amount
At 30 September 2024
2,056
4
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
6,402
Other debtors
80,477
86,879
5
Creditors: amounts falling due within one year
2024
£
Trade creditors
596
Amounts owed to group undertakings
689,025
Taxation and social security
23,267
Other creditors
151,582
864,470
6
Parent company
The ultimate controlling party is Marco Global payroll Pte. A company incorporated in Singapore.