REGISTERED NUMBER: 07839876 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2024

FOR

MARCHES GLOBAL LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

C Haughton

Secretary:

Mrs A M Haughton

Registered office:

Apex House

Coldnose Road

Skylon Park

Hereford

HR2 6JL

Registered number:

07839876 (England and Wales)

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

986,677

858,403

986,677

858,403

Current assets

Stocks

6

368,769

296,684

Debtors

7

3,918,360

2,991,388

Cash at bank and in hand

353,615

734,700

4,640,744

4,022,772

Creditors

Amounts falling due within one year

8

716,303

483,358

Net current assets

3,924,441

3,539,414

Total assets less current liabilities

4,911,118

4,397,817

Creditors

Amounts falling due after more than one year

9

(341,770

)

(303,146

)

Provisions for liabilities

11

(127,500

)

(95,800

)

Net assets

4,441,848

3,998,871

Capital and reserves

Called up share capital

12

1,000

1,000

Retained earnings

4,440,848

3,997,871

Shareholders' funds

4,441,848

3,998,871

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 24th September 2025 and were signed by:

C Haughton - Director

1.	Statutory information

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

Turnover

The turnover represents net invoiced sales, excluding value added tax, of goods supplied to customers during the year. 0.2% of the Company's turnover related to exports.

Intangible fixed assets

Goodwill and trademark costs are shown in the balance sheet at cost less amortisation and are being amortised at 10% per annum as the directors consider that the useful life of both the goodwill and the trademarks is 10 years. These tangible assets have now been amortised in full.

Tangible fixed assets

Tangible fixed assets are stated in the Balance sheet at cost less depreciation.

Depreciation is provided at the following rates in order to write off each asset over its estimated useful life:

Freehold property

5% straight line

Plant & equipment

20% straight line

Office equipment & fixtures

25% & 33% straight line

Motor vehicles

20% straight line

No depreciation is provided where the asset has not yet been brought into use.

Stock & work in progress

Stock and work in progress has been valued by the director at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognized at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases

The cost of operating leases is charged to the profit and loss account on a straight line basis over the lease term.

Pension costs & 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

Assets held under hire purchase contracts are capitalised as tangible fixed assets and depreciated over the useful lives of the assets. The capital elements of future obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the contracts on a straight line basis.

Government grants

Grants of a capital nature are credited to the Balance sheet and amortised over the life of the assets to which they relate.

3.	Employees (including officers)

The average number of employees during the year was 20 (2023 - 19 ) .

4.	Intangible fixed assets

Goodwill &

trademarks

£

Cost

At 1st January 2024

and 31st December 2024

301,550

Amortisation

At 1st January 2024

and 31st December 2024

301,550

Net book value

At 31st December 2024

-

At 31st December 2023

-

5.	Tangible fixed assets

Office

Freehold

Plant &

equipment &

Motor

property

equipment

fixtures

vehicles

Totals

£

£

£

£

£

Cost

At 1st January 2024

889,502

971,363

22,479

51,086

1,934,430

Additions

-

399,656

2,297

36,615

438,568

Disposals

-

(29,401

)

-

-

(29,401

)

At 31st December 2024

889,502

1,341,618

24,776

87,701

2,343,597

Depreciation

At 1st January 2024

340,616

689,911

11,047

34,453

1,076,027

Charge for year

44,487

248,821

5,505

11,481

310,294

Eliminated on disposal

-

(29,401

)

-

-

(29,401

)

At 31st December 2024

385,103

909,331

16,552

45,934

1,356,920

Net book value

At 31st December 2024

504,399

432,287

8,224

41,767

986,677

At 31st December 2023

548,886

281,452

11,432

16,633

858,403

The net book value of tangible fixed assets includes £ 313,260 (2023 - £ 192,125 ) in respect of assets held under hire purchase contracts.

6.

Stocks

31.12.24

31.12.23

£

£

Stock & work in progress

368,769

296,684

7.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Trade debtors

467,846

612,632

Amounts owed by group undertakings

2,952,218

2,119,576

Amounts owed by related parties

420,990

64,171

Other debtors & prepayments

77,306

107,156

S455

-

87,853

3,918,360

2,991,388

8.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Bank loans

39,220

38,601

Hire purchase contracts (see note 10)

125,001

117,403

Trade creditors

352,279

119,557

Corporation tax

19,700

-

Social security & other taxes

144,224

166,007

Other creditors

15,382

26,793

Accruals & deferred income

20,497

14,997

716,303

483,358

9.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Bank loan one to five years

156,878

154,405

Bank loan more than five years

44,709

87,020

Hire purchase contracts (see note 10)

101,303

61,721

Deferred government grants

38,880

-

341,770

303,146

Amounts falling due in more than five years:

Repayable by instalments

Bank loan more than five years

44,709

87,020

The bank loans of £240,807 (2023: £280,026) are secured on the freehold property of the company.

There is a contingent liability for the company to repay the capital grants totalling £38,880 (2023: £nil), if the asset is sold before 30th September 2025. The directors are confident that the criteria will be met.

10.	Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase

contracts

31.12.24

31.12.23

£

£

Net obligations repayable:

Within one year

125,001

117,403

Between one and five years

101,303

61,721

226,304

179,124

Non-cancellable

operating leases

31.12.24

31.12.23

£

£

Within one year

178,488

195,461

Between one and five years

566,031

726,952

744,519

922,413

11.	Provisions for liabilities

31.12.24

31.12.23

£

£

Deferred tax

127,500

95,800

Deferred tax

£

Balance at 1st January 2024

95,800

Accelerated capital allowances

31,700

Balance at 31st December 2024

127,500

12.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

13.	Contingent liabilities

There were no contingent liabilities at 31st December 2024, apart from those disclosed in note 11.

14.	Director's advances, credits and guarantees

During the year, the director used a current account with the company to record amounts due to him and amounts drawn by him. Loans and advances totalling £211,414 and repayments of £211,414 were made during the year. The balance at the year end was transferred to the holding company.

The loans and advances were made interest free and were repayable on demand.

15.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The following transactions with related parties, on normal commercial terms, took place during the year:

Loans made

Debtor balance

Creditor balance

£

£

£

Entities with common key management personnel

356,819

420,990

-

16.	Ultimate controlling party

The company is a wholly owned subsidiary of Marches Global Holdings Limited.

Company registration number: 14348943

Company registration address: Apex House, Coldnose Road, Hereford, HR2 6JL