IRIS Accounts Production v25.1.4.42 07558439 Board of Directors 1.4.23 31.3.24 31.3.24 Medium entities motorbike and quad sales. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh075584392023-03-31075584392024-03-31075584392023-04-012024-03-31075584392022-03-31075584392022-04-012023-03-31075584392023-03-3107558439ns15:EnglandWales2023-04-012024-03-3107558439ns14:PoundSterling2023-04-012024-03-3107558439ns10:Director12023-04-012024-03-3107558439ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107558439ns10:MediumEntities2023-04-012024-03-3107558439ns10:Audited2023-04-012024-03-3107558439ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-04-012024-03-3107558439ns10:Medium-sizedCompaniesRegimeForAccounts2023-04-012024-03-3107558439ns10:FullAccounts2023-04-012024-03-310755843912023-04-012024-03-3107558439ns10:OrdinaryShareClass12023-04-012024-03-3107558439ns10:Director22023-04-012024-03-3107558439ns10:RegisteredOffice2023-04-012024-03-3107558439ns5:CurrentFinancialInstruments2024-03-3107558439ns5:CurrentFinancialInstruments2023-03-3107558439ns5:Non-currentFinancialInstruments2024-03-3107558439ns5:Non-currentFinancialInstruments2023-03-3107558439ns5:ShareCapital2024-03-3107558439ns5:ShareCapital2023-03-3107558439ns5:RetainedEarningsAccumulatedLosses2024-03-3107558439ns5:RetainedEarningsAccumulatedLosses2023-03-3107558439ns5:ShareCapital2022-03-3107558439ns5:RetainedEarningsAccumulatedLosses2022-03-3107558439ns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3107558439ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3107558439ns5:NetGoodwill2023-04-012024-03-3107558439ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107558439ns5:PlantMachinery2023-04-012024-03-3107558439ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2023-04-012024-03-3107558439ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2022-04-012023-03-3107558439ns5:OwnedAssets2023-04-012024-03-3107558439ns5:OwnedAssets2022-04-012023-03-3107558439ns5:LeasedAssets2023-04-012024-03-3107558439ns5:LeasedAssets2022-04-012023-03-310755843912023-04-012024-03-310755843912022-04-012023-03-3107558439ns5:HirePurchaseContracts2023-04-012024-03-3107558439ns5:HirePurchaseContracts2022-04-012023-03-3107558439ns10:OrdinaryShareClass12022-04-012023-03-3107558439ns5:NetGoodwill2023-03-3107558439ns5:NetGoodwill2024-03-3107558439ns5:NetGoodwill2023-03-3107558439ns5:PlantMachinery2023-03-3107558439ns5:MotorVehicles2023-03-3107558439ns5:MotorVehicles2023-04-012024-03-3107558439ns5:PlantMachinery2024-03-3107558439ns5:MotorVehicles2024-03-3107558439ns5:PlantMachinery2023-03-3107558439ns5:MotorVehicles2023-03-3107558439ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3107558439ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3107558439ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3107558439ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3107558439ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107558439ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3107558439ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3107558439ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-03-3107558439ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3107558439ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3107558439ns5:HirePurchaseContracts2024-03-3107558439ns5:HirePurchaseContracts2023-03-3107558439ns5:WithinOneYear2024-03-3107558439ns5:WithinOneYear2023-03-3107558439ns5:BetweenOneFiveYears2024-03-3107558439ns5:BetweenOneFiveYears2023-03-3107558439ns5:AllPeriods2024-03-3107558439ns5:AllPeriods2023-03-3107558439ns10:OrdinaryShareClass12024-03-3107558439ns5:RetainedEarningsAccumulatedLosses2023-03-31
REGISTERED NUMBER: 07558439 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MARSHMX LIMITED

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


MARSHMX LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Marsh
G Marsh





REGISTERED OFFICE: Unit 1
Cyfarthfa Industrial Estate
Merthyr Tydfil
CF47 8PE





REGISTERED NUMBER: 07558439 (England and Wales)





AUDITORS: Baker Knoyle Audit Limited
Chartered Certified Accountants
Orbit Business Centre
Rhydycar Business Park
Merthyr Tydfil
CF48 1DL

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
MarshMX Ltd specialises in the sale of new and used motorcycles, motorcycle parts, and related labour services for repairs and maintenance. The company operates from its principal retail site in the UK and serves both retail customers and trade buyers.

For the year ended 31 March 2024, turnover increased to £10,628,609 (2023: £10,089,082), representing a growth of 5.3% year-on-year. This increase was primarily driven by a higher volume of used motorcycle sales and increased workshop activity, as part availability stabilised post-supply chain disruption in 2023.

Despite the increase in revenue, gross profit fell to £1,229,764 (2023: £1,424,318), and profit before tax dropped to £210,490 (2023: £635,184). This reflects margin pressure across both motorcycle sales and parts procurement, as well as higher operating costs - including staff costs, energy prices, and business rates.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider the following to be the principal risks and uncertainties facing the business:

Economic Conditions: The demand for discretionary purchases such as motorcycles is sensitive to general economic conditions. A sustained downturn in consumer confidence could negatively impact sales volumes.

Supply Chain Disruption: Delays or shortages in motorcycle parts and stock—especially for new models—can affect the company’s ability to meet customer demand and maintain margins.

Industry Regulation and Technological Change: Evolving emissions legislation and the transition toward electric motorcycles could impact the future product mix and require investment in new technology and training.

Competition: The retail motorcycle sector is highly competitive. The company faces ongoing competition from both national chains and online platforms, which can affect pricing and customer retention.

FINANCIAL KEY PERFORMANCE INDICATORS
KPI 2024 2023 Change
Turnover £10.63m £10.09m +8.0%
Gross profit £1.22m £1.42m -17.1%
Gross Margin 11.47 14.11 -3.27pp
Profit Before Tax £210.4k £635.2k

DEVELOPMENTS & PERFORMANCE
Looking ahead, MarshMX Ltd plans to strengthen its online presence for motorcycle sales and parts and improve internal efficiencies within the workshop division to support gross margin recovery.

The company will continue to focus on optimising inventory management and delivering a high-quality service experience to its customer base.

ON BEHALF OF THE BOARD:





A Marsh - Director


27 June 2025

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
No interim dividend was paid during the year. The directors recommend a final dividend of 340,000 per share.

The total distribution of dividends for the year ended 31 March 2024 will be £ 680,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

A Marsh
G Marsh

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Baker Knoyle Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Marsh - Director


27 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARSHMX LIMITED

Opinion
We have audited the financial statements of Marshmx Limited (the 'company') for the year ended 31 March 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARSHMX LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Officers and other management (as required by auditing standards).
- We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting (including related trade union legislation) and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.
- With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Officers.
- We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
- We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MARSHMX LIMITED


Other Matter - Comparative Information
The financial statements for the year ended 31 March 2024 are the first financial statements of the company that have been audited. Accordingly, the comparative information presented as at and for the year ended 31 March 2023 took advantage of audit exemption under s. 477 of the Companies Act 2006. Therefore the prior period financial statements were not subject to audit.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Richard Phillips FCCA (Senior Statutory Auditor)
for and on behalf of Baker Knoyle Audit Limited
Chartered Certified Accountants
Orbit Business Centre
Rhydycar Business Park
Merthyr Tydfil
CF48 1DL

27 June 2025

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

TURNOVER 10,628,609 10,089,082

Cost of sales 9,398,845 8,664,764
GROSS PROFIT 1,229,764 1,424,318

Administrative expenses 1,307,426 1,063,156
(77,662 ) 361,162

Other operating income 302,370 285,856
OPERATING PROFIT 4 224,708 647,018

Interest receivable and similar income 1 109
224,709 647,127

Interest payable and similar expenses 5 14,219 11,943
PROFIT BEFORE TAXATION 210,490 635,184

Tax on profit 6 73,228 107,010
PROFIT FOR THE FINANCIAL YEAR 137,262 528,174

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 137,262 528,174


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

137,262

528,174

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 336,593 423,875
336,593 423,875

CURRENT ASSETS
Stocks 10 5,265,429 4,510,704
Debtors 11 160,618 95,434
Cash at bank and in hand 62,421 315,307
5,488,468 4,921,445
CREDITORS
Amounts falling due within one year 12 4,451,957 3,398,874
NET CURRENT ASSETS 1,036,511 1,522,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,373,104

1,946,446

CREDITORS
Amounts falling due after more than one
year

13

197,172

227,776
NET ASSETS 1,175,932 1,718,670

CAPITAL AND RESERVES
Called up share capital 16 2 2
Retained earnings 17 1,175,930 1,718,668
SHAREHOLDERS' FUNDS 1,175,932 1,718,670

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





A Marsh - Director


MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2022 2 1,690,494 1,690,496

Changes in equity
Dividends - (500,000 ) (500,000 )
Total comprehensive income - 528,174 528,174
Balance at 31 March 2023 2 1,718,668 1,718,670

Changes in equity
Dividends - (680,000 ) (680,000 )
Total comprehensive income - 137,262 137,262
Balance at 31 March 2024 2 1,175,930 1,175,932

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 440,043 726,158
Interest paid (25 ) -
Interest element of hire purchase payments
paid

(14,194

)

(11,943

)
Tax paid (107,009 ) (70,109 )
Net cash from operating activities 318,815 644,106

Cash flows from investing activities
Purchase of tangible fixed assets (27,426 ) (249,928 )
Sale of tangible fixed assets - 91,363
Interest received 1 109
Net cash from investing activities (27,425 ) (158,456 )

Cash flows from financing activities
Capital repayments in year (30,604 ) 110,041
Equity dividends paid (680,000 ) (500,000 )
Net cash from financing activities (710,604 ) (389,959 )

(Decrease)/increase in cash and cash equivalents (419,214 ) 95,691
Cash and cash equivalents at beginning of
year

2

315,307

219,616

Cash and cash equivalents at end of year 2 (103,907 ) 315,307

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 210,490 635,184
Depreciation charges 112,208 77,611
Loss/(profit) on disposal of fixed assets 2,500 (43,945 )
Movement of balance to Group Undertaking (33,118 ) 54,700
Finance costs 14,219 11,943
Finance income (1 ) (109 )
306,298 735,384
Increase in stocks (754,725 ) (1,425,843 )
Increase in trade and other debtors (63,860 ) (2,912 )
Increase in trade and other creditors 952,330 1,419,529
Cash generated from operations 440,043 726,158

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 62,421 315,307
Bank overdrafts (166,328 ) -
(103,907 ) 315,307
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 315,307 219,616


3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 315,307 (252,886 ) 62,421
Bank overdrafts - (166,328 ) (166,328 )
315,307 (419,214 ) (103,907 )
Debt
Finance leases (258,377 ) 30,604 (227,773 )
(258,377 ) 30,604 (227,773 )
Total 56,930 (388,610 ) (331,680 )

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Marshmx Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The comparative figures for the year ended 31 March 2023 were unaudited and are included for comparative purposes only.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 698,357 619,130
Other pension costs 13,843 11,722
712,200 630,852

The average number of employees during the year was as follows:
2024 2023

Staff 22 20

2024 2023
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 4,621 6,257
Depreciation - owned assets 68,310 48,451
Depreciation - assets on hire purchase contracts 43,898 29,160
Loss/(profit) on disposal of fixed assets 2,500 (43,945 )
Auditors' remuneration 6,000 -

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
HMRC fines & charges 25 -
Hire purchase 14,194 11,943
14,219 11,943

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 73,228 107,010
Tax on profit 73,228 107,010

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 210,490 635,184
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

52,623

120,685

Effects of:
Expenses not deductible for tax purposes 861 46
Capital allowances in excess of depreciation - (13,721 )
Depreciation in excess of capital allowances 19,744 -
Total tax charge 73,228 107,010

7. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Final 680,000 500,000

8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 65,000
AMORTISATION
At 1 April 2023
and 31 March 2024 65,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 340,765 340,161 680,926
Additions 27,426 - 27,426
Disposals (16,446 ) - (16,446 )
At 31 March 2024 351,745 340,161 691,906
DEPRECIATION
At 1 April 2023 195,433 61,618 257,051
Charge for year 42,572 69,636 112,208
Eliminated on disposal (13,946 ) - (13,946 )
At 31 March 2024 224,059 131,254 355,313
NET BOOK VALUE
At 31 March 2024 127,686 208,907 336,593
At 31 March 2023 145,332 278,543 423,875

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 237,208
DEPRECIATION
At 1 April 2023 61,618
Charge for year 43,898
At 31 March 2024 105,516
NET BOOK VALUE
At 31 March 2024 131,692
At 31 March 2023 175,590

10. STOCKS
2024 2023
£    £   
Stocks 5,265,429 4,510,704

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 78,271 40,764
Amounts owed by group undertakings 1,324 -
Other debtors 81,023 54,670
160,618 95,434

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 166,328 -
Hire purchase contracts (see note 15) 30,601 30,601
Trade creditors 3,951,594 2,921,323
Amounts owed to group undertakings - 31,794
Tax 73,174 106,955
Social security and other taxes 16,457 13,535
VAT 71,069 55,076
Other creditors 32,860 30,236
Accruals and deferred income 109,874 209,354
4,451,957 3,398,874

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 15) 197,172 227,776

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 166,328 -

At the balance sheet date, the company had two charges registered in favour of National Westminster Bank PLC:

A fixed and floating charge dated 29 August 2022, covering all assets and undertakings of the company, including a negative pledge.

A fixed charge dated 16 January 2023 over specific assets, also subject to a negative pledge.

Both charges were registered at Companies House and remain outstanding.

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 30,601 30,601
Between one and five years 197,172 227,776
227,773 258,377

MARSHMX LIMITED (REGISTERED NUMBER: 07558439)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

15. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 300 300
Between one and five years 975 1,275
1,275 1,575

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

17. RESERVES
Retained
earnings
£   

At 1 April 2023 1,718,668
Profit for the year 137,262
Dividends (680,000 )
At 31 March 2024 1,175,930