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REGISTERED NUMBER: SC250038 (Scotland)















Mark Garrick Ltd.

Financial Statements For The Year Ended 31 October 2024






Mark Garrick Ltd. (Registered number: SC250038)






Contents of the Financial Statements
For The Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mark Garrick Ltd.

Company Information
For The Year Ended 31 October 2024







DIRECTORS: Mr M Garrick
Miss J H Clarke



SECRETARY: Miss J H Clarke



REGISTERED OFFICE: Brookfield House
Birnie
Elgin
Moray
IV30 8SW



REGISTERED NUMBER: SC250038 (Scotland)



ACCOUNTANTS: The Long Partnership
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: Virgin Money
161 Mid Street
Keith
Moray
AB55 5BL

Mark Garrick Ltd. (Registered number: SC250038)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,043,684 903,454
1,043,684 903,454

CURRENT ASSETS
Stocks 728,833 682,558
Debtors 6 572,429 569,318
Cash in hand 615 78
1,301,877 1,251,954
CREDITORS
Amounts falling due within one year 7 1,137,362 1,027,793
NET CURRENT ASSETS 164,515 224,161
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,208,199

1,127,615

CREDITORS
Amounts falling due after more than one
year

8

(83,221

)

(77,684

)

PROVISIONS FOR LIABILITIES 10 (153,440 ) (154,306 )
NET ASSETS 971,538 895,625

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 971,536 895,623
SHAREHOLDERS' FUNDS 971,538 895,625

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mark Garrick Ltd. (Registered number: SC250038)

Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





Mr M Garrick - Director


Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements
For The Year Ended 31 October 2024

1. STATUTORY INFORMATION

Mark Garrick Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill was written off in equal annual instalments over its estimated useful economical life of 5 years as assessed by the director. It is now amortised in full.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Equipment - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 5,000
AMORTISATION
At 1 November 2023
and 31 October 2024 5,000
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property Equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 302,673 919,506 155,437 31,317 1,408,933
Additions 140,601 460,309 128,506 2,092 731,508
Disposals - (490,853 ) - - (490,853 )
At 31 October 2024 443,274 888,962 283,943 33,409 1,649,588
DEPRECIATION
At 1 November 2023 168,895 242,916 70,299 23,369 505,479
Charge for year 25,528 127,283 27,278 3,354 183,443
Eliminated on disposal - (83,018 ) - - (83,018 )
At 31 October 2024 194,423 287,181 97,577 26,723 605,904
NET BOOK VALUE
At 31 October 2024 248,851 601,781 186,366 6,686 1,043,684
At 31 October 2023 133,778 676,590 85,138 7,948 903,454

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 463,682 521,510
Other debtors 108,747 47,808
572,429 569,318

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 79,572 39,620
Hire purchase contracts 61,716 83,287
Trade creditors 752,414 657,551
Taxation and social security 30,813 39,361
Other creditors 212,847 207,974
1,137,362 1,027,793

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 8,333 18,333
Hire purchase contracts 74,888 59,351
83,221 77,684

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts 136,604 142,638

10. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 153,440 154,306

Deferred
tax
£   
Balance at 1 November 2023 154,306
Provided during year (866 )
Balance at 31 October 2024 153,440

Mark Garrick Ltd. (Registered number: SC250038)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
2 Ordinary 1 2 2

12. RESERVES
Retained
earnings
£   

At 1 November 2023 895,623
Profit for the year 135,913
Dividends (60,000 )
At 31 October 2024 971,536

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2023 - £60,000) were paid to the directors .

As at 1 November 2023 the company owed the directors £188,876. During the year the directors met expenditure amounting to £2,786 on behalf of the company. As at 31 October 2024 the company owed the directors £191,662. This loan is interest free and has no fixed terms of repayment.