Marshall Street Limited
Unaudited Financial Statements
For the year ended 31 July 2024
Pages for Filing with Registrar
Company Registration No. 03801421 (England and Wales)
Marshall Street Limited
Company Information
Directors
J Mayes
T Thornton-Allan
Company number
03801421
Registered office
8-9 Carlisle Street
London
United Kingdom
W1D 3BP
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Bankers
Barclays Bank Plc
Media Banking Centre
United Kingdom House
180 Oxford Street
London
W1D 1EA
Marshall Street Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Marshall Street Limited
Balance Sheet
As at 31 July 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
16,456
18,625
Current assets
Work in progress
-
15,492
Debtors
6
500,494
518,828
Cash at bank and in hand
158,506
57,660
659,000
591,980
Creditors: amounts falling due within one year
7
(566,526)
(504,123)
Net current assets
92,474
87,857
Total assets less current liabilities
108,930
106,482
Creditors: amounts falling due after more than one year
8
(49,268)
(94,772)
Provisions for liabilities
(1,687)
(1,510)
Net assets
57,975
10,200
Capital and reserves
Called up share capital
9
60,000
60,000
Capital redemption reserve
40,000
40,000
Profit and loss reserves
(42,025)
(89,800)
Total equity
57,975
10,200

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Marshall Street Limited
Balance Sheet (Continued)
As at 31 July 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 22 May 2025 and are signed on its behalf by:
J Mayes
Director
Company Registration No. 03801421
Marshall Street Limited
Notes to the Financial Statements
For the year ended 31 July 2024
Page 3
1
Accounting policies
Company information

Marshall Street Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8-9 Carlisle Street, London, United Kingdom, W1D 3BP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 Section 1A “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Going concern

The financial statements have been prepared on the going concern basistrue.

 

The directors believe the going concern basis to remain appropriate as the company continues to meet its day to day liabilities as they fall due. The directors will continue to provide financial support to the company for the foreseeable future, and will not seek repayment of their loans of £50,324 (2023: £59,724) until the company is in a position to repay them. The financial statements do not include any adjustments that would result from the consequences of the company not being able to continue to trade.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion. At the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is determined, as to when certain phases of a project are completed. The costs and corresponding revenue are recognised as and when the work is completed. Where the outcome cannot be estimated reliably, revenue is recognised, only to the extent of the expenses recognised, that are recoverable.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Over the term of the lease
Plant and machinery
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Work in progress

Work in progress represents costs incurred on work produced post year end and is valued at the lower of cost and net realisable value.                        

Marshall Street Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 4
1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Marshall Street Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
Page 5
1.11
Retirement benefits

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

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
17
17
3
Directors' remuneration
2024
2023
£
£
Remuneration paid to directors
208,710
194,250
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
12,949
-
0
Deferred tax
Origination and reversal of timing differences
177
1,908
Total tax charge
13,126
1,908
Marshall Street Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 6
5
Tangible fixed assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 August 2023
45,702
173,188
218,890
Additions
-
0
5,868
5,868
At 31 July 2024
45,702
179,056
224,758
Depreciation and impairment
At 1 August 2023
45,702
154,563
200,265
Depreciation charged in the year
-
0
8,037
8,037
At 31 July 2024
45,702
162,600
208,302
Carrying amount
At 31 July 2024
-
0
16,456
16,456
At 31 July 2023
-
0
18,625
18,625
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
194,439
265,045
Corporation tax recoverable
-
0
36,040
Other debtors
306,055
217,743
500,494
518,828
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
45,479
45,454
Trade creditors
115,910
157,389
Corporation tax
12,948
-
0
Other taxation and social security
117,891
106,869
Other creditors
111,734
95,051
Accruals and deferred income
162,564
99,360
566,526
504,123
Marshall Street Limited
Notes to the Financial Statements (Continued)
For the year ended 31 July 2024
Page 7
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
49,268
94,772
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
'A' Ordinary shares of £1 each
27,000
27,000
27,000
27,000
'B' Ordinary shares of £1 each
27,000
27,000
27,000
27,000
'C' Ordinary shares of £1 each
6,000
6,000
6,000
6,000
60,000
60,000
60,000
60,000
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
160,000
160,000
Between two and five years
640,000
640,000
In over five years
160,000
320,000
960,000
1,120,000

 

11
Related party transactions

As at year end, £50,324 (2023: £59,724) was owed to directors of the company.

12
Ultimate controlling party
There is no ultimate controlling party.
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