James A. Marshall Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC032141 (Scotland)

Financial Statements

For The Year Ended 31 March 2023

for

James A. Marshall Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J W Marshall

Mrs G E Marshall

SECRETARY:

Mr J W Marshall

REGISTERED OFFICE:

50 Crownpoint Road

Bridgeton

Glasgow

G40 2QE

REGISTERED NUMBER:

SC032141 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

FIXED ASSETS

Tangible assets

4

193,872

212,713

Investments

5

10,060

-

203,932

212,713

CURRENT ASSETS

Stocks

15,968

24,677

Debtors

6

134,651

204,122

Investments

7

3,461

627,929

Cash at bank and in hand

1,402,608

643,575

1,556,688

1,500,303

CREDITORS

Amounts falling due within one year

8

112,200

126,579

NET CURRENT ASSETS

1,444,488

1,373,724

TOTAL ASSETS LESS CURRENT LIABILITIES

1,648,420

1,586,437

PROVISIONS FOR LIABILITIES

11,314

13,636

NET ASSETS

1,637,106

1,572,801

CAPITAL AND RESERVES

Called up share capital

2,000

2,000

Retained earnings

1,635,106

1,570,801

SHAREHOLDERS' FUNDS

1,637,106

1,572,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:

Mr J W Marshall - Director

1.	STATUTORY INFORMATION

James A. Marshall Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors have considered the potential impact of the Coronavirus (Covid-19) pandemic and, having considered a period of at least twelve months from the date of approval of these financial statements, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made are described below:

Estimated useful lives and residual values of fixed assets

As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into account estimated useful lives used by other companies operating within the same sector and actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Turnover

Turnover represents income from services supplied in the areas of the company's principal activities, net of value added tax.Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Land and buildings

-

5% on reducing balance

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and 10% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks

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. Costs include direct costs together with an appropriate proportion of overheads.

Financial instruments

The following assets and liabilities are classified as basic financial instruments - trade debtors, trade creditors, directors' loans and non-puttable listed investments.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Non-puttable listed investments are measured at fair value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

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.

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.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

328,394

864,220

1,192,614

Additions

-

1,535

1,535

At 31 March 2023

328,394

865,755

1,194,149

DEPRECIATION

At 1 April 2022

210,167

769,734

979,901

Charge for year

4,411

15,965

20,376

At 31 March 2023

214,578

785,699

1,000,277

NET BOOK VALUE

At 31 March 2023

113,816

80,056

193,872

At 31 March 2022

118,227

94,486

212,713

Included in cost of land and buildings is freehold land of £ 30,000 (2022 - £ 30,000 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

160,317

Disposals

(150,257

)

At 31 March 2023

10,060

NET BOOK VALUE

At 31 March 2023

10,060

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

125,868

193,520

Other debtors

8,783

10,602

134,651

204,122

7.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Other

3,461

627,929

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

20,716

43,059

Taxation and social security

72,184

66,346

Other creditors

19,300

17,174

112,200

126,579

9.	ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by Mr J W Marshall and Mrs G E Marshall, the joint owners of 100% of the issued share capital.