Company Registration No. 3885253 (England and Wales)
Marshall Industrial Supplies Limited
Unaudited accounts
for the year ended 30 June 2020
Marshall Industrial Supplies Limited
Unaudited accounts
Contents
Marshall Industrial Supplies Limited
Company Information
for the year ended 30 June 2020
Company Number
3885253 (England and Wales)
Registered Office
153A Nottingham Road
Basford
Nottingham
NG6 0FU
Accountants
Taylor Accountancy Services
2 Lynmoor Court
Hucknall
Nottingham
NG15 8FT
Marshall Industrial Supplies Limited
Statement of financial position
as at
30 June 2020
Intangible assets
28,800
28,800
Tangible assets
97,741
128,124
Inventories
196,485
130,425
Cash at bank and in hand
284,341
401,178
Creditors: amounts falling due within one year
(629,822)
(516,437)
Net current assets
771,685
737,222
Total assets less current liabilities
898,226
894,146
Creditors: amounts falling due after more than one year
-
(51,094)
Net assets
898,226
843,052
Called up share capital
110
110
Profit and loss account
898,116
842,942
Shareholders' funds
898,226
843,052
For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 March 2021 and were signed on its behalf by
M R Albone
Director
Company Registration No. 3885253
Marshall Industrial Supplies Limited
Notes to the Accounts
for the year ended 30 June 2020
Marshall Industrial Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 3885253. The registered office is 153A Nottingham Road, Basford, Nottingham, NG6 0FU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
30% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
20% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Marshall Industrial Supplies Limited
Notes to the Accounts
for the year ended 30 June 2020
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 July 2019
92,521
141,315
24,104
22,246
280,186
Additions
1,000
-
-
1,221
2,221
At 30 June 2020
93,521
141,315
24,104
23,467
282,407
At 1 July 2019
60,628
62,680
10,385
18,369
152,062
Charge for the year
9,868
19,659
2,058
1,019
32,604
At 30 June 2020
70,496
82,339
12,443
19,388
184,666
At 30 June 2020
23,025
58,976
11,661
4,079
97,741
At 30 June 2019
31,893
78,635
13,719
3,877
128,124
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
32,506
43,341
Marshall Industrial Supplies Limited
Notes to the Accounts
for the year ended 30 June 2020
Trade debtors
888,881
701,286
Accrued income and prepayments
1,800
770
Other debtors
30,000
20,000
Total debtors less than one year
920,681
722,056
Total debtors
920,681
722,056
7
Creditors: amounts falling due within one year
2020
2019
Obligations under finance leases and hire purchase contracts
51,094
8,389
Trade creditors
269,118
268,481
Taxes and social security
231,766
187,536
Other creditors
4,751
5,121
Loans from directors
68,213
30,740
8
Creditors: amounts falling due after more than one year
2020
2019
Obligations under finance leases and hire purchase contracts
-
51,094
9
Share capital
2020
2019
Allotted, called up and fully paid:
110 Ordinary shares of £1 each
110
110
10
Average number of employees
During the year the average number of employees was 5 (2019: 6).