MARBLE IDEAS LIMITED 30/11/2021 iXBRL

MARBLE IDEAS LIMITED - Company Information

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Company registration number: 02710610

MARBLE IDEAS LIMITED

Unaudited filleted financial statements

30 November 2021

MARBLE IDEAS LIMITED

Contents

Statement of financial position

Notes to the financial statements

MARBLE IDEAS LIMITED

Statement of financial position

30 November 2021

		30/11/21		31/05/21
	Note	£	£	£	£

Fixed assets
Tangible assets	6	396,259		432,014
		_______		_______
			396,259		432,014

Current assets
Stocks		190,000		280,000
Debtors	7	609,317		515,830
Cash at bank and in hand		163,093		287,687
		_______		_______
		962,410		1,083,517
Creditors: amounts falling due
within one year	8	( 261,787)		( 202,128)
		_______		_______
Net current assets			700,623		881,389
			_______		_______
Total assets less current liabilities			1,096,882		1,313,403

Creditors: amounts falling due
after more than one year	9		( 1,172)		( 10,819)

Provisions for liabilities			( 17,864)		( 56,872)

			_______		_______
Net assets			1,077,846		1,245,712
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			1,077,746		1,245,612
			_______		_______
Shareholders funds			1,077,846		1,245,712
			_______		_______

For the period ending 30 November 2021 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 period 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.

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 Section 1A of 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 income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 15 August 2022 , and are signed on behalf of the board by:

Mr S Buck

Director

Company registration number: 02710610

MARBLE IDEAS LIMITED

Notes to the financial statements

Period ended 30 November 2021

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Unit 1, Station Approach, Station Road, Langley, Slough, SL3 6DB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

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.

Taxation

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

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:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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 stocks to their 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.

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.

4. Limited by guarantee

5. Employee numbers

The average number of persons employed by the company during the period amounted to 25 (2021: 25 ).

6. Tangible assets

	Freehold and leasehold properties	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 June 2021 and 30 November 2021	46,512	1,042,099	54,564	186,817	1,329,992
	_______	_______	_______	_______	_______
Depreciation
At 1 June 2021	46,512	692,655	38,994	119,820	897,981
Charge for the year	-	26,209	1,168	8,375	35,752
	_______	_______	_______	_______	_______
At 30 November 2021	46,512	718,864	40,162	128,195	933,733
	_______	_______	_______	_______	_______
Carrying amount
At 30 November 2021	-	323,235	14,402	58,622	396,259
	_______	_______	_______	_______	_______
At 31 May 2021	-	349,444	15,570	66,997	432,011
	_______	_______	_______	_______	_______

7. Debtors

	30/11/21	31/05/21
	£	£
Trade debtors	191,112	122,742
Other debtors	418,205	393,088
	_______	_______
	609,317	515,830
	_______	_______

The debtors above include the following amounts falling due after more than one year:

	30/11/21	31/05/21
	£	£
Other debtors	272,412	272,412
	_______	_______

8. Creditors: amounts falling due within one year

	30/11/21	31/05/21
	£	£
Trade creditors	199,213	107,495
Social security and other taxes	15,628	22,524
Other creditors	46,946	72,109
	_______	_______
	261,787	202,128
	_______	_______

9. Creditors: amounts falling due after more than one year

	30/11/21	31/05/21
	£	£
Other creditors	1,172	10,819
	_______	_______

10. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	80,000	65,000
Later than 1 year and not later than 5 years	160,000	162,500
	_______	_______
	240,000	227,500
	_______	_______

11. Events after the end of the reporting period

On 6 December 2021 the shares of Marble Ideas Limited were acquired by Bellagio Marble Ideas Limited (company number 13645733) in exchange for a new issue of shares in Bellagio Marble Ideas Limited. This transaction formed part of a reorganisation in which Marble Ideas Limited and Bellagio Stone Limited (company number 05497978) were brought into a group under a newly formed holding company, Bellagio Marble Ideas Limited.

12. Directors advances, credits and guarantees

Other debtors includes a loan of £368,945 to S & E Property Limited, a company in which Mr S Buck , the director of Marble Ideas Limited, and his wife are controlling shareholders. Interest of 5% per annum is charged by Marble Ideas Limited on this loan.