Registered number
04268081
(England and Wales)
MARKETPOOL LIMITED
Unaudited Filleted Accounts
31 August 2024
MARKETPOOL LIMITED
Registered number: 04268081
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 153,276 89,214
Current assets
Stocks 110,536 108,323
Debtors 5 75,187 37,855
Cash at bank and in hand 318,691 450,126
504,414 596,304
Creditors: amounts falling due within one year 6 (455,141) (400,055)
Net current assets 49,273 196,249
Total assets less current liabilities 202,549 285,463
Creditors: amounts falling due after more than one year 7 (7,331) (17,482)
Provisions for liabilities (18,675) (1,836)
Net assets 176,543 266,145
Capital and reserves
Called up share capital 1 2
Profit and loss account 176,542 266,143
Shareholders' funds 176,543 266,145
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A R Oakley
Director
Approved by the board on 19 June 2025
MARKETPOOL LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 50 years
Plant and machinery etc 25% reducing balance basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 22 20
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 47,500
At 31 August 2024 47,500
Amortisation
At 1 September 2023 47,500
At 31 August 2024 47,500
Net book value
At 31 August 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 100,811 301,289 40,922 443,022
Additions - 28,471 69,627 98,098
Disposals - (1,290) (27,823) (29,113)
At 31 August 2024 100,811 328,470 82,726 512,007
Depreciation
At 1 September 2023 37,140 282,446 34,222 353,808
Charge for the year 2,016 11,752 18,788 32,556
On disposals - (984) (26,649) (27,633)
At 31 August 2024 39,156 293,214 26,361 358,731
Net book value
At 31 August 2024 61,655 35,256 56,365 153,276
At 31 August 2023 63,671 18,843 6,700 89,214
5 Debtors 2024 2023
£ £
Trade debtors 28,408 27,595
Other debtors 46,779 10,260
75,187 37,855
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 18,117 10,649
Obligations under finance lease and hire purchase contracts 17,594 -
Trade creditors 325,991 286,228
Taxation and social security costs 83,799 94,756
Other creditors 9,640 8,422
455,141 400,055
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 17,482
Obligations under finance lease and hire purchase contracts 7,331 -
7,331 17,482
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 18,117 28,131
All monies due from the company to the company's bank are secured by fixed and floating charges over the company and all property and assets.
9 Related party transactions
The company pays rent for two commercial properties to CW Oakley & Sons Ltd, a company 50% owned by the company's Director.
The company pays rent for one commercial property to Oakavon Ltd, a company 100% owned by the company's Director.
The company is owed an inter company loan from CW Oakley & Sons Ltd. The balance at 31 August 2024 was £6,308 (2023 - £6,008) on which the company receives interest at 5% of the average balance for the year.
10 Controlling party
The controlling party is AR Oakley by virtue of his ownwership of 100% of the company's voting shares
11 Other information
MARKETPOOL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Units 1-4, Crossley Farm Business Centre
Swan Lane
Winterbourne
Bristol
BS36 1RH
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