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REGISTERED NUMBER: SC172812 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Marpet Fabrications (1997) Ltd.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Marpet Fabrications (1997) Ltd.

Company Information
for the Year Ended 31 August 2024







DIRECTOR: W Chisholm





REGISTERED OFFICE: Unit 04 Clyde Workshops
Fullarton Road
Glasgow
G32 8YL





REGISTERED NUMBER: SC172812 (Scotland)





ACCOUNTANTS: CBS Accountancy Solutions Limited
Unit 31
Coatbridge Business Centre
204 Main Street
Coatbridge
ML5 3RB

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 97,211 121,961
97,211 121,961

CURRENT ASSETS
Stocks 8,500 6,200
Debtors 6 277,907 204,116
Cash at bank 187,196 218,919
473,603 429,235
CREDITORS
Amounts falling due within one year 7 (162,431 ) (143,138 )
NET CURRENT ASSETS 311,172 286,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

408,383

408,058

CREDITORS
Amounts falling due after more than one
year

8

(7,012

)

(18,591

)

PROVISIONS FOR LIABILITIES (21,880 ) (27,895 )
NET ASSETS 379,491 361,572

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 379,391 361,472
379,491 361,572

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

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

The director acknowledges his 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.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Balance Sheet - continued
31 August 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 director and authorised for issue on 29 April 2025 and were signed by:





W Chisholm - Director


Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Marpet Fabrications (1997) 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
Goodwill has been fully amortised.

Intangible assets
Intangible assets are recognised at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are recognised at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc - 25% on reducing balance and 25% on cost

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

Financial instruments
Basic financial instruments, including cash, bank balances, debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 16,000
AMORTISATION
At 1 September 2023
and 31 August 2024 16,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 381,161
Additions 2,005
Disposals (18,142 )
At 31 August 2024 365,024
DEPRECIATION
At 1 September 2023 259,200
Charge for year 25,656
Eliminated on disposal (17,043 )
At 31 August 2024 267,813
NET BOOK VALUE
At 31 August 2024 97,211
At 31 August 2023 121,961

Included within the net book value of plant and machinery etc is an amount of £32,462 (2023 - £93,511) relating to assets held under hire purchase contracts classified as finance leases.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 257,676 192,500
Other debtors 20,231 11,616
277,907 204,116

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 11,580 32,926
Trade creditors 80,496 64,193
Taxation and social security 63,957 44,979
Other creditors 6,398 1,040
162,431 143,138

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts (see note 9) 7,012 18,591

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.8.24 31.8.23
£    £   
Gross obligations repayable:
Within one year 12,211 34,522
Between one and five years 7,133 19,344
19,344 53,866

Finance charges repayable:
Within one year 631 1,596
Between one and five years 121 753
752 2,349

Net obligations repayable:
Within one year 11,580 32,926
Between one and five years 7,012 18,591
18,592 51,517

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Hire purchase contracts 18,592 51,517

The hire purchase obligations are secured over the company's tangible fixed asset to which they relate.

Marpet Fabrications (1997) Ltd. (Registered number: SC172812)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the director, £128 (2023 - £597).