REGISTERED NUMBER: 04854144 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Marsden Direct Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C D Marsden

REGISTERED OFFICE:

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

REGISTERED NUMBER:

04854144 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Park House

37 Clarence Street

Leicester

Leicestershire

LE1 3RW

FIXED ASSETS

Intangible assets

4

4,419

5,548

Tangible assets

5

477,352

462,019

481,771

467,567

CURRENT ASSETS

Stocks

131,825

111,667

Debtors

6

526,512

419,653

Cash at bank

7,410

142,898

665,747

674,218

CREDITORS

Amounts falling due within one year

7

(477,063

)

(435,760

)

NET CURRENT ASSETS

188,684

238,458

TOTAL ASSETS LESS CURRENT LIABILITIES

670,455

706,025

CREDITORS

Amounts falling due after more than one year

8

(377,266

)

(450,575

)

PROVISIONS FOR LIABILITIES

(87,495

)

(92,662

)

NET ASSETS

205,694

162,788

CAPITAL AND RESERVES

Called up share capital

82

82

Retained earnings

205,612

162,706

SHAREHOLDERS' FUNDS

205,694

162,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 September 2025 and were signed by:

Mr C D Marsden - Director

1.	STATUTORY INFORMATION

Marsden Direct Group 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.

The accounting period was extended from 31 July 2023 to 31 December 2023 for commercial reasons. The comparatives are therefor not entirely comparable to the current twelve month period.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, assuming the company will continue to trade. This assumption depends on the ability of the directors to maintain the necessary financial support.

Turnover

Turnover represents net invoiced services supplied, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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.

Licenses are being amortised evenly over their estimated useful life of five years.

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.

Improvements to property

-

20% on cost

Plant and machinery

-

15% or 25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell, 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 Statement of Income and Retained Earnings, 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.

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.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Licenses

£

COST

At 1 January 2024

and 31 December 2024

5,644

AMORTISATION

At 1 January 2024

96

Amortisation for year

1,129

At 31 December 2024

1,225

NET BOOK VALUE

At 31 December 2024

4,419

At 31 December 2023

5,548

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

93,744

464,876

10,780

Additions

-

-

6,017

Disposals

-

-

-

At 31 December 2024

93,744

464,876

16,797

DEPRECIATION

At 1 January 2024

76,576

247,432

6,620

Charge for year

4,973

41,545

2,109

Eliminated on disposal

-

-

-

At 31 December 2024

81,549

288,977

8,729

NET BOOK VALUE

At 31 December 2024

12,195

175,899

8,068

At 31 December 2023

17,168

217,444

4,160

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

286,084

42,772

898,256

Additions

134,902

10,018

150,937

Disposals

(65,790

)

-

(65,790

)

At 31 December 2024

355,196

52,790

983,403

DEPRECIATION

At 1 January 2024

69,923

35,686

436,237

Charge for year

63,589

4,684

116,900

Eliminated on disposal

(47,086

)

-

(47,086

)

At 31 December 2024

86,426

40,370

506,051

NET BOOK VALUE

At 31 December 2024

268,770

12,420

477,352

At 31 December 2023

216,161

7,086

462,019

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

244,421

146,975

Amounts owed by group undertakings

80,346

121,617

Other debtors

201,745

151,061

526,512

419,653

Included in other debtors are prepayments and accrued income of £29,346 (2023 - £16,027).

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

62,656

55,478

Hire purchase contracts and finance leases

108,720

98,390

Trade creditors

157,018

195,170

Taxation and social security

120,355

60,647

Other creditors

28,314

26,075

477,063

435,760

Included in other creditors are accruals and deferred income of £26,293 (2023 - £26,075).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

49,770

129,218

Hire purchase contracts and finance leases

327,496

321,357

377,266

450,575

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

112,426

184,696

Hire purchase contracts and finance leases

436,216

419,747

548,642

604,443

Bank loans are secured over the assets of the company.

Hire purchase liabilities are secured on the individual assets being so acquired.

10.	OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments of £17,638 (2023: £30,950).

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

31.12.24

31.12.23

£

£

Mr C D Marsden

Balance outstanding at start of year

103,448

119,171

Amounts advanced

10,176

60,242

Amounts repaid

(35,002

)

(75,965

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

78,622

103,448

Mr A W Marsden

Balance outstanding at start of year

-

143,667

Amounts advanced

-

56,850

Amounts repaid

-

(200,517

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

The loans were repayable on demand and interest has been charged at the HMRC Official Rate of Interest.