| MARJON BUILDERS LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2021 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes from the rendering of services. Turnover is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
25% reducing balance method |
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Fixtures, fittings, tools and equipment |
25% reducing balance method |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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Coronavirus Job Retention Scheme and other Government grants |
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Amounts received from central Government, local Government and other Government agencies are included in Other operating income on an accruals basis. |
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| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
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Average number of persons employed by the company |
3 |
|
3 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2020 |
812 |
|
4,600 |
|
5,412 |
|
At 31 March 2021 |
812 |
|
4,600 |
|
5,412 |
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Depreciation |
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At 1 April 2020 |
587 |
|
2,659 |
|
3,246 |
|
Charge for the year |
56 |
|
485 |
|
541 |
|
At 31 March 2021 |
643 |
|
3,144 |
|
3,787 |
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Net book value |
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At 31 March 2021 |
169 |
|
1,456 |
|
1,625 |
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At 31 March 2020 |
225 |
|
1,941 |
|
2,166 |
|
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| 4 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
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Trade debtors |
31,339 |
|
20,197 |
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Other debtors |
2,308 |
|
- |
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33,647 |
|
20,197 |
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| 5 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
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Trade creditors |
3,337 |
|
8,250 |
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Other taxes and social security costs |
7,088 |
|
6,731 |
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Other creditors |
41,964 |
|
45,117 |
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52,389 |
|
60,098 |
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| 6 |
Events after the reporting date |
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There were no events since the balance sheet date that in the opinion of the directors would effect these accounts. |
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| 7 |
Other financial commitments |
2021 |
|
2020 |
| £ |
£ |
|
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Total future minimum payments under non-cancellable operating leases |
|
10,693 |
|
14,046 |
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| 8 |
Related party transactions |
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The company paid dividends of £niL (2020 - £7,500) to J C Donovan. The company also paid £1,200 to J C Donovan for the use of home facilities. |
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| 9 |
Other information |
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MARJON BUILDERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
95 High Street |
|
Beckenham |
|
Kent |
|
BR3 1AG |
