Registered number:
01007764
MARSHALL-TUFFLEX LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2020
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MARSHALL-TUFFLEX LIMITED
REGISTERED NUMBER:
01007764
BALANCE SHEET
AS AT
31 DECEMBER 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The Company's
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 4 to 8 form part of these financial statements.
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MARSHALL-TUFFLEX LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2020
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Dividends: Equity capital
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Total transactions with owners
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 4 to 8 form part of these financial statements.
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MARSHALL-TUFFLEX LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
Cash flows from operating activities
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Profit for the financial year
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(Increase)/decrease in debtors
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Net cash generated from operating activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at the end of year
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Cash and cash equivalents at the end of year comprise:
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The notes on pages 4 to 8 form part of these financial statements.
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MARSHALL-TUFFLEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Marshall Tufflex Limited is a private company limited by shares, incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The principal activity of the company continued to be that of selling, marketing and distribution agents.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland, the Companies Act 2006 and FRC Abstracts.
These financial statements are presented in GBP because that is the currency of the primary economic environment in which the Company operates.
These financial statements have been prepared on the going concern basis.
Accounting policies have been applied consistently over the financial year.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The directors consider that it is appropriate to prepare the financial statements on the going concern basis.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Defined contribution pension plan
The Company contributes to a defined contribution plan operated by C & C Marshall Limited, a connected company, for the benefit of its employees. The pension cost charge represents contributions payable by the company to the fund. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payments obligations.
The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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MARSHALL-TUFFLEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Short term debtors are measured at transaction price, less any impairment.
Short term creditors are measured at the transaction price.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the Directors.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. There are no judgments made that have a significant effect on the amounts recognised in the financial statements.
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Auditor's remuneration is paid by C & C Marshall Limited.
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MARSHALL-TUFFLEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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The average monthly number of employees, including the Directors, during the year was as follows:
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Creditors: Amounts falling due within one year
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Other taxation and social security
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MARSHALL-TUFFLEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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Allotted, called up and fully paid
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202
(2019 -
202
)
Ordinary
shares of £
0.50
each
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The Company has one class of Ordinary share which is entitled to one vote in any circumstances.
Each share is entitled pari passu to dividend payments or any other distribution. Each share is entitled pari passu to participate in a distribution arising from a winding up of the company.
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Profit & loss account
The balance in the profit and loss account represents the total distributable reserves of the company.
Defined Benefit
The Company is a member of the C & C Marshall Company Pension Plan, a group scheme operated by a connected Company, C & C Marshall Limited. The pension scheme is a funded, defined benefits scheme and provides benefits based on final pensionable pay, and is closed to future accrual. The assets of the scheme are held separately from those of the company, being invested in independently managed funds. Contributions to the defined benefit pension scheme are made by C & C Marshall Limited.
Defined contribution
The company makes contributions to a defined contribution pension scheme operated by C & C Marshall Limited for the benefit of its employees. The pension cost charge represents contributions payable by the Company to the fund and amounted to £66,064
(2019: £69,101).
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MARSHALL-TUFFLEX LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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Related party transactions
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The directors of this company are also directors of a connected company, C & C Marshall Limited. Marshall-Tufflex Limited has traded with C & C Marshall Limited during the year under review and details of those transactions have been noted below.
The amount due from C & C Marshall Limited at the year-end was £211,835
(2019: £209,870)
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The Company acts as a selling agent for C & C Marshall Limited. Sales made on behalf of and purchases from that company amounted to £14,650,466
(2019: £15,299,791)
during the period under review.
Transactions with the connected company were as follows:
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Motor and travel expenses
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There is no ultimate controlling party.
The auditors' report on the financial statements for the year ended 31 December 2020 was unqualified. The statutory auditor was WMT and the senior statutory auditor was Elizabeth Irvine. The audit report was signed by Elizabeth Irvine on 22/03/2021.
The audit report was signed on
22 March 2021
by
Elizabeth Irvine
(Senior Statutory Auditor) on behalf of
WMT
.
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