Registration number:
Prepared for the registrar
for the
Year Ended 31 August 2024
Marlowe C&FS Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Marlowe C&FS Limited
Company Information
Director |
S P Miller |
Registered office |
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Accountants |
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Marlowe C&FS Limited
(Registration number: 02634688)
Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
- |
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Investments |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Deferred tax liabilities |
(94,250) |
(94,099) |
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Net assets |
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Capital and reserves |
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Called up share capital |
4,250 |
4,250 |
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Capital redemption reserve |
5,750 |
5,750 |
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Retained earnings |
380,572 |
2,002,949 |
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Shareholders' funds |
390,572 |
2,012,949 |
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land |
Nil |
Freehold buildings |
2% straight line basis |
Plant and machinery |
33%-50% straight line basis |
Fixtures and fittings |
33%-50% straight line basis |
Investment property
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Recognition and measurement
Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was as follows:
2024 |
2023 |
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Average number of employees |
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Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets |
Freehold land and buildings |
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Cost |
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At 1 September 2023 |
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Additions |
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Disposals |
( |
At 31 August 2024 |
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Depreciation |
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At 1 September 2023 |
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Charge for the year |
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Depreciation adjustment |
( |
At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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At 31 August 2023 |
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Land with a carrying value of £124,810 (2023 - £472,457) is not depreciated.
Investment properties |
2024 |
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At 1 September 2023 |
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Disposals |
( |
At 31 August 2024 |
- |
There has been no valuation of investment property by an independent valuer.
During the year the investment property was transferred to the company's immediate parent undertaking at market value, which is considered to be the same as the carrying value at the date of transfer.
Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Investments |
2024 |
2023 |
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Investments in subsidiaries |
- |
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Subsidiaries |
£ |
Cost and net book value |
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At 1 September 2023 |
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Disposals |
( |
Carrying amount |
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At 31 August 2024 |
- |
At 31 August 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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Ordinary |
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England and Wales |
Subsidiary undertakings |
Hartmore Education Limited The principal activity of Hartmore Education Limited is |
Debtors |
2024 |
2023 |
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Trade debtors |
- |
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Overdrawn director's loan account |
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Other debtors |
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Prepayments |
- |
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Marlowe C&FS Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Creditors |
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
- |
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Accrued expenses |
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Corporation tax liability |
13,980 |
38,532 |
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Deferred tax |
Deferred tax assets and liabilities
2024 |
Liability |
Difference between accumulated depreciation and amortisation and capital allowances |
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2023 |
Liability |
Difference between accumulated depreciation and amortisation and capital allowances |
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