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Company No: 07464636 (England and Wales)

MARK ANDREW LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

MARK ANDREW LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

MARK ANDREW LIMITED

BALANCE SHEET

As at 31 January 2025
MARK ANDREW LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 3,388,184 3,016,579
3,388,184 3,016,579
Current assets
Stocks 5 179,219 179,408
Debtors 6 1,111,478 1,222,008
Cash at bank and in hand 585,722 483,922
1,876,419 1,885,338
Creditors: amounts falling due within one year 7 ( 940,929) ( 876,747)
Net current assets 935,490 1,008,591
Total assets less current liabilities 4,323,674 4,025,170
Creditors: amounts falling due after more than one year 8 ( 1,864,766) ( 1,829,629)
Provision for liabilities ( 653,603) ( 562,769)
Net assets 1,805,305 1,632,772
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,805,205 1,632,672
Total shareholders' funds 1,805,305 1,632,772

For the financial 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.

Directors' responsibilities:

The financial statements of Mark Andrew Limited (registered number: 07464636) were approved and authorised for issue by the Board of Directors on 01 June 2025. They were signed on its behalf by:

M J Andrew
Director
MARK ANDREW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
MARK ANDREW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
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

Mark Andrew 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:
Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom.

The principal place of business is:
Glenmeade
Tamsquite
St Tudy
Bodmin
Cornwall
PL30 3PU

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.

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 amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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:

Goodwill 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, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line and reducing balance basis over its expected useful life, as follows:

Land and buildings 0 - 10 years straight line
Plant and machinery 8 years straight line
Vehicles 5 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.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 23 20

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2024 75,860 75,860
At 31 January 2025 75,860 75,860
Accumulated amortisation
At 01 February 2024 75,860 75,860
At 31 January 2025 75,860 75,860
Net book value
At 31 January 2025 0 0
At 31 January 2024 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 February 2024 835,474 4,109,791 41,275 16,965 5,003,505
Additions 13,325 1,113,424 700 583 1,128,032
Disposals 0 ( 611,750) 0 0 ( 611,750)
At 31 January 2025 848,799 4,611,465 41,975 17,548 5,519,787
Accumulated depreciation
At 01 February 2024 79,136 1,855,815 36,995 14,980 1,986,926
Charge for the financial year 4,204 520,027 2,163 1,218 527,612
Disposals 0 ( 382,935) 0 0 ( 382,935)
At 31 January 2025 83,340 1,992,907 39,158 16,198 2,131,603
Net book value
At 31 January 2025 765,459 2,618,558 2,817 1,350 3,388,184
At 31 January 2024 756,338 2,253,976 4,280 1,985 3,016,579

Included within the net book value of land and buildings above is £743,401 (2024 - £743,401) in respect of freehold land and buildings.
Included within the net book value of tangible fixed assets is £1,753,580 (2024 - £1,506,448 ) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £294,669 (2024 - £246,782).

5. Stocks

2025 2024
£ £
Stocks 179,219 179,408

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

6. Debtors

2025 2024
£ £
Trade debtors 1,078,514 1,210,226
Prepayments and accrued income 11,274 11,782
Corporation tax 21,690 0
1,111,478 1,222,008

7. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 120,454 59,075
Trade creditors 289,530 191,158
Amounts owed to directors 172,944 182,623
Accruals 6,220 8,128
Taxation and social security 23,889 122,648
Obligations under finance leases and hire purchase contracts 317,210 298,815
Other creditors 10,682 14,300
940,929 876,747

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

2025 2024
£ £
Bank loans 1,230,606 1,353,763
Obligations under finance leases and hire purchase contracts 634,160 475,866
1,864,766 1,829,629

The bank loan is secured by a charge over the land at Tamsquite Farm and a debenture over the company assets.

9. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100