Stuart Marsh Shoes Limited - Period Ending 2021-07-31
Stuart Marsh Shoes Limited - Period Ending 2021-07-31
Registration number:
Stuart Marsh Shoes Limited
for the Year Ended 31 July 2021
Stuart Marsh Shoes Limited
(Registration number: 01689153)
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Stuart Marsh Shoes Limited
(Registration number: 01689153)
Company Information
Directors |
S Marsh PB Marsh M Marsh R Marsh |
Registered office |
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Auditors |
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Stuart Marsh Shoes Limited
(Registration number: 01689153)
Balance Sheet as at 31 July 2021
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2021 |
2020 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
Stuart Marsh Shoes Limited
(Registration number: 01689153)
Notes to the Financial Statements for the Year Ended 31 July 2021
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A' The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The directors have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.
In addition, the directors do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.
The directors have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.
The directors have implemented a robust system of procedures and controls in order to deal with any associated risks.
Group accounts not prepared
Audit report
Stuart Marsh Shoes Limited
(Registration number: 01689153)
Notes to the Financial Statements for the Year Ended 31 July 2021
Revenue recognition
Turnover represents amounts chargeable, net of value added tax, in respect of rental income and the provision of management services.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Stuart Marsh Shoes Limited
(Registration number: 01689153)
Notes to the Financial Statements for the Year Ended 31 July 2021
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2021 |
2020 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 August 2020 |
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Carrying amount |
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At 31 July 2021 |
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At 31 July 2020 |
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Stuart Marsh Shoes Limited
(Registration number: 01689153)
Notes to the Financial Statements for the Year Ended 31 July 2021
Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Holding |
Proportion of voting rights and shares held |
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2021 |
2020 |
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Subsidiary undertakings |
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Ordinary |
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Ordinary |
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Ordinary |
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Subsidiary undertakings |
Sterling and Hunt Limited The principal activity of Sterling and Hunt Limited is |
Marsh Footwear Brands Limited (previously Chatham Marine Limited) The principal activity of Marsh Footwear Brands Limited (previously Chatham Marine Limited) is |
Chatham Marine Limited (previously Marsh Footwear Brands Limited) The principal activity of Chatham Marine Limited (previously Marsh Footwear Brands Limited) is |
Debtors |
Note |
2021 |
2020 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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Other debtors |
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Total current trade and other debtors |
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Stuart Marsh Shoes Limited
(Registration number: 01689153)
Notes to the Financial Statements for the Year Ended 31 July 2021
Creditors |
Note |
2021 |
2020 |
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Due within one year |
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Trade creditors |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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- |
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Related party transactions |
Transactions with directors |
2020 |
At 1 August 2019 |
Repayments by director |
At 31 July 2020 |
Director - Interest free loan |
60,000 |
( |
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Summary of transactions with other related parties
Loans to related parties
2021 |
Other related parties |
At start and end of period |
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2020 |
Other related parties |
At start and end of period |
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Terms of loans to related parties