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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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Marcus & Co Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Marcus & Co Ltd |
Marcus & Co Ltd (Registered number: 02934819) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Report of the Accountants | 6 |
Marcus & Co Ltd |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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112 High Street |
Coleshill |
Birmingham |
Warwickshire |
B46 3BL |
Marcus & Co Ltd (Registered number: 02934819) |
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Balance Sheet |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Marcus & Co Ltd (Registered number: 02934819) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Marcus & Co Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Marcus & Co Ltd (Registered number: 02934819) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2018 |
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Disposals | ( |
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At 31 March 2019 |
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AMORTISATION |
At 1 April 2018 |
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Eliminated on disposal | ( |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
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Disposals | ( |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Bad Debt Reserve | (30,474 | ) | (43,250 | ) |
Other debtors |
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Mid England Investments Ltd | 2,372 | 2,372 |
Directors' current accounts | - | 12,923 |
Prepayments and accrued income |
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Marcus & Co Ltd (Registered number: 02934819) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Loan Dynamis Ltd | - | 40,000 |
Tax |
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Social security and other taxes |
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VAT | 16,571 | 20,451 |
Provision for fees in advance | 40,000 | 40,000 |
Directors' current accounts | 47,747 | - |
Accrued expenses |
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Other creditors includes £40,000 (£40,000 - 2017) consist of work carried out for a number of clients who have |
paid in advance in year to 31/03/2019, such work having been carried out after 31/03/2019. The basis upon |
which this provision has been calculated is on the number of hours spend charged at the appropriate charge-out |
rate. |
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8. | RESERVES |
Retained |
earnings |
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At 1 April 2018 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2019 |
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9. | RELATED PARTY DISCLOSURES |
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1) Rent of £37,500 (£50,000- 2018) was paid to Ryland Developments Ltd under a lease.The Ryland Companies |
are owned by the M.Demetriou trust. Mr M.Demetriou is the father of D.Markou. |
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2) Loan Interest is 50% of the interest paid by Mr.D.Markou on his private mortgage in respect of £200,000 |
practice obligation re Ryley claim as agreed by H.M.R.C in 2006. |
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4) The directors loan was repaid on 21 August 2018. |
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5) The dividend of £120,000 was paid to Mr.D.Markou. |
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6) The loan from Dynamis Ltd (partly owned by D.Markou's sons Marcus and Andrew) was repaid in April |
2018. |
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10. | GENERAL NOTE |
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On 31 March 2019 Marcus & Co transferred its business and clients data base as a going concern to Marneros, |
Marcus & Co Ltd, based at Hagley Court, 40 Vicarage Road, Edgbaston, Birmingham B15 3EZ. The |
consideration for the sale is £200,000. D Markou, the owner of Marcus & Co.is a consultant to Marneros, |
Marcus & Co Ltd but has no other involvement in Marneros, Marcus & Co Ltd. Marcus & Co will continue as a |
provider of consultancy services on an ad hoc basis to businesses, including Marneros Marcus & Co. Marcus & |
Co will not employ staff other than D Markou, the director. |
Marcus & Co Ltd |
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Report of the Accountants to the Directors of |
Marcus & Co Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2019 set out on pages nil to nil and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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112 High Street |
Coleshill |
Birmingham |
Warwickshire |
B46 3BL |
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Date: ............................................. |