Marketboy Ltd 12395651 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Licenced Restaurant Digita Accounts Production Advanced 6.30.9574.0 true true 12395651 2023-08-01 2024-07-31 12395651 2024-07-31 12395651 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-07-31 12395651 core:CurrentFinancialInstruments 2024-07-31 12395651 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12395651 core:Non-currentFinancialInstruments 2024-07-31 12395651 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 12395651 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-31 12395651 core:BetweenTwoFiveYears 2024-07-31 12395651 core:MoreThanFiveYears 2024-07-31 12395651 core:WithinOneYear 2024-07-31 12395651 core:FurnitureFittingsToolsEquipment 2024-07-31 12395651 core:LandBuildings 2024-07-31 12395651 core:OtherRelatedParties 2024-07-31 12395651 1 2024-07-31 12395651 bus:SmallEntities 2023-08-01 2024-07-31 12395651 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12395651 bus:FilletedAccounts 2023-08-01 2024-07-31 12395651 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12395651 bus:RegisteredOffice 2023-08-01 2024-07-31 12395651 bus:Director1 2023-08-01 2024-07-31 12395651 bus:Director2 2023-08-01 2024-07-31 12395651 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-08-01 2024-07-31 12395651 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12395651 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 12395651 core:IntangibleAssetsOtherThanGoodwill 2023-08-01 2024-07-31 12395651 core:FurnitureFittings 2023-08-01 2024-07-31 12395651 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 12395651 core:LandBuildings 2023-08-01 2024-07-31 12395651 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 12395651 core:OtherRelatedParties 2023-08-01 2024-07-31 12395651 1 2023-08-01 2024-07-31 12395651 countries:England 2023-08-01 2024-07-31 12395651 2023-07-31 12395651 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 12395651 core:FurnitureFittingsToolsEquipment 2023-07-31 12395651 core:LandBuildings 2023-07-31 12395651 core:OtherRelatedParties 2023-07-31 12395651 2022-08-01 2023-07-31 12395651 2023-07-31 12395651 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-31 12395651 core:CurrentFinancialInstruments 2023-07-31 12395651 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12395651 core:Non-currentFinancialInstruments 2023-07-31 12395651 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12395651 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-31 12395651 core:BetweenTwoFiveYears 2023-07-31 12395651 core:MoreThanFiveYears 2023-07-31 12395651 core:WithinOneYear 2023-07-31 12395651 core:FurnitureFittingsToolsEquipment 2023-07-31 12395651 core:LandBuildings 2023-07-31 12395651 core:OtherRelatedParties 2023-07-31 12395651 1 2023-07-31 12395651 2022-07-31 12395651 core:OtherRelatedParties 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12395651

Marketboy Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Marketboy Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Marketboy Ltd

Company Information

Directors

Mr Chung Yan Liu

Mr Peter Thomas Hewitt

Registered office

12 Byard Lane
Nottingham
Nottinghamshire
NG1 2GJ

Accountants

RSW Chartered Accountants
PO Box 18725
Sutton Coldfield
B73 9XY

 

Marketboy Ltd

(Registration number: 12395651)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,110

1,480

Tangible assets

5

75,752

91,019

 

76,862

92,499

Current assets

 

Stocks

6

4,936

6,555

Debtors

7

11,247

10,295

Cash at bank and in hand

 

32,703

17,088

 

48,886

33,938

Creditors: Amounts falling due within one year

8

(181,917)

(159,335)

Net current liabilities

 

(133,031)

(125,397)

Total assets less current liabilities

 

(56,169)

(32,898)

Creditors: Amounts falling due after more than one year

8

(13,948)

(24,106)

Provisions for liabilities

(10,450)

(12,840)

Net liabilities

 

(80,567)

(69,844)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(80,667)

(69,944)

Shareholders' deficit

 

(80,567)

(69,844)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

 

Marketboy Ltd

(Registration number: 12395651)
Balance Sheet as at 31 July 2024

.........................................
Mr Chung Yan Liu
Director

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
12 Byard Lane
Nottingham
Nottinghamshire
NG1 2GJ

These financial statements were authorised for issue by the Board on 29 April 2025.

2

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the monies received for the sale of goods and 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.

The company recognises revenue when:
Goods or Services has been delivered and satisfactorily accepted by the customers

Government grants

Grant Revenue has been recognised when the company has fulfilled the requirements set out by the Government body.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Lease of premises

Over the period of the lease on a straight line basis

Fixtures and Fittings

On a 20% reducing balance basis

Property Improvements

On a 15% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

Over the period of 5 years on a straight line basis

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 meals, drinks and merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Stocks

Stocks are stated at cost. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 15).

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Website & software development costs
 £

Total
£

Cost or valuation

At 1 August 2023

1,850

1,850

At 31 July 2024

1,850

1,850

Amortisation

At 1 August 2023

370

370

Amortisation charge

370

370

At 31 July 2024

740

740

Carrying amount

At 31 July 2024

1,110

1,110

At 31 July 2023

1,480

1,480

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

3,252

134,445

137,697

Additions

-

2,123

2,123

At 31 July 2024

3,252

136,568

139,820

Depreciation

At 1 August 2023

651

46,027

46,678

Charge for the year

325

17,065

17,390

At 31 July 2024

976

63,092

64,068

Carrying amount

At 31 July 2024

2,276

73,476

75,752

At 31 July 2023

2,601

88,418

91,019

Included within the net book value of land and buildings above is £2,276 (2023 - £2,601) in respect of short leasehold land and buildings.
 

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Stocks

2024
£

2023
£

Other inventories

4,936

6,555

7

Debtors

Current

2024
£

2023
£

Prepayments

2,247

1,295

Other debtors

9,000

9,000

 

11,247

10,295

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

48,075

54,490

Trade creditors

 

31,954

7,929

Taxation and social security

 

31,142

21,407

Accruals and deferred income

 

19,519

26,042

Other creditors

 

51,227

49,467

 

181,917

159,335

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

13,948

24,106

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

13,948

24,106

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,162

9,913

Other borrowings

37,913

44,577

48,075

54,490

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Bank borrowings

Bank loan is denominated in Sterling with a nominal interest rate of 2.5%, and the final instalment is due on 19 November 2026. The carrying amount at year end is £24,110 (2023 - £34,019).

The business bank loan is unsecured.

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

30,000

30,000

Later than one year and not later than five years

120,000

120,000

Later than five years

60,000

90,000

210,000

240,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £29,976 (2023 - £30,000).

12

Related party transactions

 

Marketboy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

31,079

27,125

Contributions paid to money purchase schemes

699

582

31,778

27,707

Summary of transactions with other related parties

Homeboy Catering Ltd. A company owned and controlled by one of the Directors,
 The company has been loaned funds interest free from the related party. The company also shares the usage and the expenditure of a food truck with the related party.
 

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

36,716

36,716

At end of period

36,716

36,716

2023

Other related parties
£

Total
£

At start of period

36,716

36,716

At end of period

36,716

36,716

Terms of loans from related parties

Loan is interest free and repayable on demand.