false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-10-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
04529158
2017-10-01
2018-09-30
04529158
2018-09-30
04529158
2017-09-30
04529158
2016-10-01
2017-09-30
04529158
2017-09-30
04529158
bus:OrdinaryShareClass1
2017-10-01
2018-09-30
04529158
bus:LeadAgentIfApplicable
2017-10-01
2018-09-30
04529158
bus:Director1
2017-10-01
2018-09-30
04529158
bus:Director2
2017-10-01
2018-09-30
04529158
core:WithinOneYear
2018-09-30
04529158
core:WithinOneYear
2017-09-30
04529158
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-09-30
04529158
core:LandBuildings
core:LongLeaseholdAssets
2017-09-30
04529158
core:PlantMachinery
2017-09-30
04529158
core:FurnitureFittings
2017-09-30
04529158
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-09-30
04529158
core:LandBuildings
core:LongLeaseholdAssets
2018-09-30
04529158
core:PlantMachinery
2018-09-30
04529158
core:FurnitureFittings
2018-09-30
04529158
core:MotorVehicles
2018-09-30
04529158
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-10-01
2018-09-30
04529158
core:LandBuildings
core:LongLeaseholdAssets
2017-10-01
2018-09-30
04529158
core:PlantMachinery
2017-10-01
2018-09-30
04529158
core:FurnitureFittings
2017-10-01
2018-09-30
04529158
core:MotorVehicles
2017-10-01
2018-09-30
04529158
core:UKTax
2017-10-01
2018-09-30
04529158
core:UKTax
2016-10-01
2017-09-30
04529158
core:ShareCapital
2018-09-30
04529158
core:ShareCapital
2017-09-30
04529158
core:OtherReservesSubtotal
2018-09-30
04529158
core:OtherReservesSubtotal
core:RestatedAmount
2017-09-30
04529158
core:RetainedEarningsAccumulatedLosses
2018-09-30
04529158
core:RestatedAmount
core:RetainedEarningsAccumulatedLosses
2017-09-30
04529158
core:RestatedAmount
2017-09-30
04529158
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-09-30
04529158
core:LandBuildings
core:LongLeaseholdAssets
2017-09-30
04529158
core:PlantMachinery
2017-09-30
04529158
core:FurnitureFittings
2017-09-30
04529158
bus:SmallEntities
2017-10-01
2018-09-30
04529158
bus:AuditExemptWithAccountantsReport
2017-10-01
2018-09-30
04529158
bus:FullAccounts
2017-10-01
2018-09-30
04529158
bus:SmallCompaniesRegimeForAccounts
2017-10-01
2018-09-30
04529158
bus:PrivateLimitedCompanyLtd
2017-10-01
2018-09-30
04529158
bus:OrdinaryShareClass1
2018-09-30
04529158
bus:OrdinaryShareClass1
2017-09-30
04529158
core:PlantMachinery
core:OwnedOrFreeholdAssets
2017-10-01
2018-09-30
04529158
core:FurnitureFittings
core:OwnedOrFreeholdAssets
2017-10-01
2018-09-30
04529158
core:MotorVehicles
core:OwnedOrFreeholdAssets
2017-10-01
2018-09-30
COMPANY REGISTRATION NUMBER:
04529158
Marshalls (Donington) Limited
|
|
Filleted Unaudited Financial Statements
|
|
Marshalls (Donington) Limited
|
|
for the year ended 30th September 2018
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
|
1
|
|
|
Statement of financial position
|
2 to 3
|
|
|
Notes to the financial statements
|
4 to 8
|
|
|
Marshalls (Donington) Limited
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Marshalls (Donington) Limited
|
|
for the year ended 30th September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marshalls (Donington) Limited for the year ended 30th September 2018, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Marshalls (Donington) Limited, as a body, in accordance with the terms of our engagement letter dated 7th January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Marshalls (Donington) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marshalls (Donington) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Marshalls (Donington) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Marshalls (Donington) Limited. You consider that Marshalls (Donington) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Marshalls (Donington) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MOORE THOMPSON
Chartered Accountants
Bank House
Broad Street
Spalding
PE11 1TB
Dated:
9 January 2019
Marshalls (Donington) Limited
|
|
Statement of Financial Position
|
|
as at
30 September 2018
Fixed assets
Tangible assets
|
6
|
|
328,575
|
|
311,561
|
|
|
|
|
|
|
Current assets
Stocks
|
250
|
|
250
|
|
Debtors
|
7
|
94,153
|
|
77,258
|
|
Cash at bank and in hand
|
38,612
|
|
41,627
|
|
|
-----------
|
|
-----------
|
|
|
133,015
|
|
119,135
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
67,340
|
|
63,930
|
|
|
-----------
|
|
-----------
|
|
Net current assets
|
|
65,675
|
|
55,205
|
|
|
-----------
|
|
-----------
|
Total assets less current liabilities
|
|
394,250
|
|
366,766
|
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
23,162
|
|
20,108
|
|
|
-----------
|
|
-----------
|
Net assets
|
|
371,088
|
|
346,658
|
|
|
-----------
|
|
-----------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
9
|
|
100
|
|
100
|
Other reserves
|
|
19,328
|
|
14,328
|
Profit and loss account
|
|
351,660
|
|
332,230
|
|
|
-----------
|
|
-----------
|
Shareholders funds
|
|
371,088
|
|
346,658
|
|
|
-----------
|
|
-----------
|
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30th September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Marshalls (Donington) Limited
|
|
Statement of Financial Position (continued)
|
|
as at
30 September 2018
These financial statements were approved by the
board of directors
and authorised for issue on
9 January 2019
, and are signed on behalf of the board by:
Mr R. Marshall
|
Mrs J. Marshall
|
Director
|
Director
|
|
|
Company registration number:
04529158
Marshalls (Donington) Limited
|
|
Notes to the Financial Statements
|
|
for the year ended 30th September 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bank Farm, Quadring Bank, Spalding, Lincolnshire, PE11 4RD.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Farm support income
Monies received and receivable from the Rural Payments Agency in respect of the Basic Payment Scheme and the Environmental Stewardship Scheme are recognised as other operating income in the period to which they relate.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold property
|
-
|
Not depreciated
|
|
Plant & machinery
|
-
|
20% Reducing balance or 5% Straight line
|
|
Fixtures & fittings
|
-
|
10% Reducine balance or 25% Reducing balance
|
|
Motor vehicles
|
-
|
25% Reducing balance
|
|
|
|
|
Depreciation is not provided on improvements to leasehold property where, in the opinion of the directors, the residual value of that property is such that any depreciation charge would be immaterial.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year amounted to
3
(2017:
3
).
5.
Tax on profit
Major components of tax expense
Current tax:
UK current tax expense
|
2,718
|
5,418
|
|
|
|
Deferred tax:
Origination and reversal of timing differences
|
3,054
|
(
789)
|
Impact of change in tax rate
|
–
|
(
1,058)
|
|
-----------
|
-----------
|
Total deferred tax
|
3,054
|
(
1,847)
|
|
-----------
|
-----------
|
Tax on profit
|
5,772
|
3,571
|
|
-----------
|
-----------
|
|
|
|
6.
Tangible assets
|
Freehold property
|
Leasehold improvements
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
£
|
|
|
|
|
|
|
|
Cost or valuation
|
|
|
|
|
|
|
At 1 Oct 2017
|
125,000
|
99,986
|
211,934
|
22,363
|
–
|
459,283
|
Additions
|
–
|
1,430
|
1,493
|
759
|
21,790
|
25,472
|
Revaluations
|
5,000
|
–
|
–
|
–
|
–
|
5,000
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
At 30 Sep 2018
|
130,000
|
101,416
|
213,427
|
23,122
|
21,790
|
489,755
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
Depreciation
|
|
|
|
|
|
|
At 1 Oct 2017
|
–
|
–
|
130,949
|
16,773
|
–
|
147,722
|
Charge for the year
|
–
|
–
|
7,574
|
1,344
|
4,540
|
13,458
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
At 30 Sep 2018
|
–
|
–
|
138,523
|
18,117
|
4,540
|
161,180
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
Carrying amount
|
|
|
|
|
|
|
At 30 Sep 2018
|
130,000
|
101,416
|
74,904
|
5,005
|
17,250
|
328,575
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
At 30 Sep 2017
|
125,000
|
99,986
|
80,985
|
5,590
|
–
|
311,561
|
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
-----------
|
|
|
|
|
|
|
|
The investment property was valued by the directors at the year end at fair value. The method and assumptions used to value this property is that the directors used guidance from a well known property website which provides estimates of this and similar properties in the surrounding area.
7.
Debtors
Trade debtors
|
90,721
|
74,046
|
Other debtors
|
3,432
|
3,212
|
|
-----------
|
-----------
|
|
94,153
|
77,258
|
|
-----------
|
-----------
|
|
|
|
8.
Creditors:
amounts falling due within one year
Trade creditors
|
49,325
|
42,456
|
Accruals and deferred income
|
11,972
|
8,030
|
Corporation tax
|
2,718
|
5,418
|
Social security and other taxes
|
245
|
253
|
Director loan accounts
|
3,080
|
7,773
|
|
-----------
|
-----------
|
|
67,340
|
63,930
|
|
-----------
|
-----------
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
Ordinary shares of £ 1 each
|
100
|
100.00
|
100
|
100.00
|
|
-----------
|
-----------
|
-----------
|
-----------
|
|
|
|
|
|