COMPANY REGISTRATION NUMBER:
09452212
Marco Joinery Holdings Limited |
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Filleted Unaudited Financial Statements |
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Marco Joinery Holdings Limited |
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Statement of Financial Position |
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31 August 2024
Fixed assets
Tangible assets |
4 |
|
220,000 |
220,000 |
Investments |
5 |
|
200 |
200 |
|
|
--------- |
--------- |
|
|
220,200 |
220,200 |
|
|
|
|
|
Current assets
Creditors: amounts falling due within one year |
7 |
178,155 |
|
176,565 |
|
--------- |
|
--------- |
Net current liabilities |
|
177,220 |
175,630 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
42,980 |
44,570 |
|
|
|
|
|
Provisions |
|
9,250 |
7,030 |
|
|
-------- |
-------- |
Net assets |
|
33,730 |
37,540 |
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|
-------- |
-------- |
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|
|
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Capital and reserves
Called up share capital |
|
200 |
200 |
Other reserves |
|
27,750 |
37,000 |
Profit and loss account |
|
5,780 |
340 |
|
|
-------- |
-------- |
Shareholders funds |
|
33,730 |
37,540 |
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|
-------- |
-------- |
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|
|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Marco Joinery Holdings Limited |
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Statement of Financial Position (continued) |
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31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
3 March 2025
, and are signed on behalf of the board by:
Mr B Coope |
Mr R K Marriott |
Director |
Director |
|
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Company registration number:
09452212
Marco Joinery Holdings Limited |
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Notes to the Financial Statements |
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Year ended 31 August 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Debtors and creditors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 1 September 2023 and 31 August 2024 |
220,000 |
|
--------- |
Depreciation |
|
At 1 September 2023 and 31 August 2024 |
– |
|
--------- |
Carrying amount |
|
At 31 August 2024 |
220,000 |
|
--------- |
At 31 August 2023 |
220,000 |
|
--------- |
|
|
5.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 September 2023 and 31 August 2024 |
200 |
|
---- |
Impairment |
|
At 1 September 2023 and 31 August 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 August 2024 |
200 |
|
---- |
At 31 August 2023 |
200 |
|
---- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
935 |
935 |
|
---- |
---- |
|
|
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7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
177,555 |
175,965 |
Other creditors |
600 |
600 |
|
--------- |
--------- |
|
178,155 |
176,565 |
|
--------- |
--------- |
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|
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8.
Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
|
2024 |
2023 |
|
£ |
£ |
At start of year |
37,000 |
37,000 |
Reclassification from fair value reserve to profit and loss account |
(9,250) |
– |
|
-------- |
-------- |
At end of year |
27,750 |
37,000 |
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-------- |
-------- |
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