| Marcol Finance International Limited |
| Registered number: |
10375524 |
| Statement of financial position |
| as at 30 September 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
2 |
|
|
3,327,439 |
|
| Creditors: amounts falling due within one year |
4 |
|
(3,596,339) |
|
|
(3,330,351) |
|
| Net current liabilities |
|
|
|
(3,596,337) |
|
|
(2,912) |
|
| Net liabilities |
|
|
|
(3,596,337) |
|
|
(2,912) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
(3,596,339) |
|
|
(2,914) |
|
| Shareholders' funds |
|
|
|
(3,596,337) |
|
|
(2,912) |
|
|
|
|
|
|
|
|
| The directors are 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 directors acknowledge their 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. |
|
|
|
|
| M N Steinberg |
| Director |
| Approved by the board on 15 September 2025 |
|
| Marcol Finance International Limited |
| Notes to the financial statements |
| for the year ended 30 September 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). |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Functional Currency |
|
Pound Sterling is the currency of the primary economic environment in which the entity operates. |
|
|
Going concern |
|
The going concern basis has been used as the directors consider that this is the appropriate basis to use following discussion with all company creditors. The company can continue to trade as financial support is available. |
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Number of directors |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Other debtors |
2 |
|
3,327,439 |
|
|
|
|
|
|
|
|
|
|
Loans of £3,593,222 included in Debtors have been impaired in the year to £Nil to reflect their expected recoverable value.
The impairment adjustment of £3,593,222 (2023: Nil) has been recorded in the Statement of Income. |
|
| 4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other loans |
3,596,339 |
|
3,330,351 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
|
As at 30 September 2024 there were related party balances with entities that one or more of the shareholders of the Company have a participating interest as follows:
Amounts due from related parties of £3,593,222 (2023: £1,663,719) and amounts owed to related parties of £3,596,338 (2023: £3,330,350).
At 30 September 2024, the entire balance of £3,593,222 due from related parties has been fully provided for. |
|
|
| 6 |
Controlling party |
|
|
The company is controlled by the directors. |
|
|
| 7 |
Other information |
|
|
Marcol Finance International Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
10 Upper Berkeley Street |
|
London |
|
W1H 7PE |