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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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Marco Trading Co. Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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Marco Trading Co. Limited |
Marco Trading Co. Limited (Registered number: 01686894) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Marco Trading Co. Limited (Registered number: 01686894) |
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Balance Sheet |
30 June 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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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. |
Marco Trading Co. Limited (Registered number: 01686894) |
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Balance Sheet - continued |
30 June 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit And Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Marco Trading Co. Limited (Registered number: 01686894) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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Marco Trading Co. Limited is a
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company's registered number and registered office address are as below: |
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Registered number: | 01686894 |
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Registered office: | 81 Newton Street |
Manchester |
M1 1EX |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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This is the first year in which the financial statements have been prepared under FRS 102 section 1A. |
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There have been no transition adjustments. |
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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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Revenue is recognised as the company becomes entitled to consideration for the goods supplied. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit And Loss Account, |
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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Marco Trading Co. Limited (Registered number: 01686894) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Rentals paid under operating leases are charged to the profit and loss account as incurred. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's |
pension scheme are charged to profit or loss in the period to which they relate. |
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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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4. | TANGIBLE FIXED ASSETS |
Improvements |
to | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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Marco Trading Co. Limited (Registered number: 01686894) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to participating interests |
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Taxation and social security |
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Other creditors |
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7. | SECURED DEBTS |
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A debenture was created on 28th March 1984 by National Westminster Bank PLC securing all monies due or to |
become due from the company to the chargee on any account. |
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The debenture created a specific equitable charge over all freehold and leasehold property and/or the proceeds |
of sale thereof, fixed and floating charge over the undertaking and all property and assets present and future |
including goodwill, bookdebts, uncalled capital and the benefits of any licences. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company was controlled by the parent company Marco Apparel Limited, a company incorporated in |
England and Wales, registration number 06337797 |