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Company No: 04730754 (England and Wales)

MARLICO LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

MARLICO LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

MARLICO LIMITED

BALANCE SHEET

As at 30 April 2024
MARLICO LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,820 6,824
Tangible assets 4 4,389 5,898
Investments 5 250,000 250,000
259,209 262,722
Current assets
Stocks 95,126 45,760
Debtors 6 645,571 514,960
Cash at bank and in hand 74,073 39,753
814,770 600,473
Creditors: amounts falling due within one year 7 ( 456,010) ( 334,600)
Net current assets 358,760 265,873
Total assets less current liabilities 617,969 528,595
Creditors: amounts falling due after more than one year 8 ( 140,249) ( 73,463)
Net assets 477,720 455,132
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 477,620 455,032
Total shareholders' funds 477,720 455,132

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Marlico Limited (registered number: 04730754) were approved and authorised for issue by the Director on 16 May 2025. They were signed on its behalf by:

Mr M A Crump
Director
MARLICO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
MARLICO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Marlico Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 12 Vaughan Parade, Torquay, Devon, TQ2 5EG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Fixtures and fittings 6.67 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Intangible assets

Website costs Total
£ £
Cost
At 01 May 2023 20,042 20,042
At 30 April 2024 20,042 20,042
Accumulated amortisation
At 01 May 2023 13,218 13,218
Charge for the financial year 2,004 2,004
At 30 April 2024 15,222 15,222
Net book value
At 30 April 2024 4,820 4,820
At 30 April 2023 6,824 6,824

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 May 2023 2,108 11,633 13,741
Additions 0 108 108
At 30 April 2024 2,108 11,741 13,849
Accumulated depreciation
At 01 May 2023 184 7,659 7,843
Charge for the financial year 316 1,301 1,617
At 30 April 2024 500 8,960 9,460
Net book value
At 30 April 2024 1,608 2,781 4,389
At 30 April 2023 1,924 3,974 5,898

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 May 2023 250,000
At 30 April 2024 250,000
Carrying value at 30 April 2024 250,000
Carrying value at 30 April 2023 250,000

6. Debtors

2024 2023
£ £
Trade debtors 270,274 15,964
Amounts owed by associates 99,960 230,030
Amounts owed by director 96,551 191,146
Prepayments 15,754 6,832
VAT recoverable 4,114 8,781
Other debtors 158,918 62,207
645,571 514,960

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 79,402 125,895
Trade creditors 133,552 52,827
Amounts owed to associates 69,502 46,698
Accruals and deferred income 85,764 25,945
Corporation tax 87,790 72,897
Other creditors 0 10,338
456,010 334,600

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 140,249 73,463

Security is given on the company's loans and borrowings by a charge held over all assets of the company.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
At 1 May 2023 191,146 184,264
Advances to directors 246,255 333,524
Repayments by directors (340,850) (326,642)
At 30 April 2024 96,551 191,146

During the year, the company operated a loan account with its director. The loan is repayable on demand and interest is charged on balances over £10,000 at the rate stipulated by HMRC.