Company Registration No. 03001905 (England and Wales)
Mars Knitwear Limited
Unaudited accounts
for the year ended 31 January 2025
Mars Knitwear Limited
Statement of financial position
as at 31 January 2025
Tangible assets
33,500
40,200
Investment property
626,066
626,066
Cash at bank and in hand
443,142
375,676
Creditors: amounts falling due within one year
(5,143)
(6,207)
Net current assets
497,819
374,080
Net assets
1,157,437
1,121,695
Called up share capital
100
100
Profit and loss account
1,157,337
1,121,595
Shareholders' funds
1,157,437
1,121,695
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 May 2025 and were signed on its behalf by
Said Saleh
Director
Company Registration No. 03001905
Mars Knitwear Limited
Notes to the Accounts
for the year ended 31 January 2025
Mars Knitwear Limited is a private company, limited by shares, registered in England and Wales, registration number 03001905. The registered office is Westover, 16 Roundhill Road, Leicester, LE5 5RJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover represents rent received or receivable from letting properties.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at fair value.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% straight line
Mars Knitwear Limited
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Plant & machinery
Fair value at 1 February 2024
626,066
At 31 January 2025
626,066
6
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 February 2024
52
81,297
81,349
Disposals
-
(81,297)
(81,297)
Valuation at 31 January 2025
52
-
52
Amounts falling due within one year
Other debtors
57,924
4,611
8
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
441
354
Other creditors
3,202
4,603
9
Average number of employees
During the year the average number of employees was 2 (2024: 2).