REGISTERED NUMBER: 02444149 (England and Wales)

Marks Barfield Ltd.

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

Ms J Barfield

Mr I A Crockford

Mr I M Rudolph

Registered office:

50 Bromells Road

Clapham

London

SW4 OBG

Registered number:

02444149 (England and Wales)

Accountants:

Wilson Stevens

Accountants

4th Floor

100 Fenchurch Street

London

EC3M 5JD

Fixed assets

Tangible assets

4

10,879

19,139

Investments

5

2,031

1,751

12,910

20,890

Current assets

Debtors

6

191,793

1,111,620

Cash at bank and in hand

20,803

280,497

212,596

1,392,117

Creditors

Amounts falling due within one year

7

121,059

154,230

Net current assets

91,537

1,237,887

Total assets less current liabilities

104,447

1,258,777

Creditors

Amounts falling due after more than one year

8

8,333

18,333

Net assets

96,114

1,240,444

Capital and reserves

Called up share capital

1,058

1,058

Retained earnings

95,056

1,239,386

Shareholders' funds

96,114

1,240,444

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 directors acknowledge their 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 Board of Directors and authorised for issue on 12th December 2025 and were signed on its behalf by:

Mr I M Rudolph - Director

1.	Statutory information

Marks Barfield Ltd. 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 as modified by the revaluation of certain assets.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

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

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Website Development

-

33% straight line

Fixtures, Fittings & Equipment

-

25% reducing balance

Computer equipment

-

33% straight line

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases

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

Defined contribution plans

The company contributes to a stakeholder pension scheme.

There is a defined self administered scheme in operation for two directors. The assets of that scheme are held separately from those of the company in an independently administered fund.

Contributions to the pension scheme are charged to the Profit and Loss Account in the year in which they are paid. No contributions to the self administered scheme have been made since 1998.

3.	Employees and directors

The average number of employees during the year was 12 (2023 - 12 ) .

4.	Tangible fixed assets

Fixtures,

Website

Fittings

Computer

Development

& Equipment

equipment

Totals

£

£

£

£

Cost

At 1st January 2024

46,159

97,985

160,619

304,763

Additions

1,179

-

1,314

2,493

At 31st December 2024

47,338

97,985

161,933

307,256

Depreciation

At 1st January 2024

35,386

95,335

154,903

285,624

Charge for year

7,446

662

2,645

10,753

At 31st December 2024

42,832

95,997

157,548

296,377

Net book value

At 31st December 2024

4,506

1,988

4,385

10,879

At 31st December 2023

10,773

2,650

5,716

19,139

5.	Fixed asset investments

Listed

investments

£

Cost or valuation

At 1st January 2024

1,751

Revaluations

280

At 31st December 2024

2,031

Net book value

At 31st December 2024

2,031

At 31st December 2023

1,751

Cost or valuation at 31st December 2024 is represented by:

Listed

investments

£

Valuation in 2015

(4,233

)

Valuation in 2016

1,931

Valuation in 2017

(1,652

)

Valuation in 2018

(441

)

Valuation in 2019

(629

)

Valuation in 2020

(853

)

Valuation in 2020

529

Valuation in 2022

(994

)

Valuation in 2023

342

Valuation in 2024

280

Cost

7,751

2,031

6.

Debtors

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

127,850

172,756

Other debtors

63,943

131,719

191,793

304,475

Amounts falling due after more than one year:

Other debtors

-

807,145

Aggregate amounts

191,793

1,111,620

Other debtors falling due after more than one year represented unsecured loan notes issued by Brighton I-360 Holdings Limited. These loan notes were repayable by Brighton I-360 Holdings Limited, only on the successful future operation of Brighton I-360 Limited.

As a consequence of ongoing trading losses and a deteriorating liquidity position, on 7th January 2025, Brighton I-360 Limited was placed into administration and on 4th February 2025 its business and assets were sold by the adminstrators to a third party.

As a result, all amounts owed to the company by Brighton I-360 Holdings Limited have been written off in full.

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

10,001

10,000

Trade creditors

45,878

48,388

Taxation and social security

33,894

26,990

Other creditors

31,286

68,852

121,059

154,230

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

8,333

18,333

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

12,406

12,406