Accounts filed on 31-03-2023


Registered number: 02947947






Marco Glass & Glazing Limited


ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023
























Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU


ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023





DIRECTORS
Robert McKenzie-Watkins


REGISTERED OFFICE
Unit 18, 865 Ringwood Road
Wallisdown
Bournemouth
Dorset
BH11 8LL


COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02947947



ACCOUNTANTS
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU


ACCOUNTS
FOR THEYEARENDED31 MARCH 2023



CONTENTS



		Page

Directors' Report		-

Statement Of Comprehensive Income		-

Balance Sheet		3

Notes To The Accounts		4


The following do not form part of the statutory financial statements:

Trading And Profit And Loss Account		-

Profit And Loss Account Summaries		-


BALANCE SHEET AT 31 March 2023

			2023		2022
	Notes		£		£

FIXED ASSETS
Intangible assets	2		8,000		12,000
Tangible assets	3		194,844		124,018

			202,844		136,018

CURRENT ASSETS
Stock		686,365		823,466
Debtors	5	662,140		658,334
Cash at bank and in hand		80,015		132,593
		1,428,520		1,614,393
CREDITORS: Amounts falling due within one year	6	1,268,764		1,528,589
NET CURRENT ASSETS			159,756		85,804
TOTAL ASSETS LESS CURRENT LIABILITIES			362,600		221,822


CREDITORS: Amounts falling due after more than one year	7		151,471		75,299


PROVISIONS FOR LIABILITIES AND CHARGES	9		46,620		20,697

NET ASSETS			164,509		125,826

CAPITAL AND RESERVES

Called up share capital	10		2		2
Profit and loss account			164,507		125,824
SHAREHOLDERS' FUNDS			164,509		125,826

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.

Approved by the board on 31 December 2023 and signed on their behalf by



.............................
Robert McKenzie-Watkins
Director

1. ACCOUNTING POLICIES




1a. Basis Of Accounting FRS
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS 102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and with the Companies Act 2006.




1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		reducing balance 10%
Plant and Machinery		reducing balance 20%
Commercial Vehicles		reducing balance 25%
Equipment		reducing balance 15%
Motor Cars		reducing balance 25%




1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.




1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.




1e. Goodwill
Goodwill arising in connection with the acquisition of businesses is capitalised and amortised over its estimated economic life to a maximum of 10 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




1f. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.




3. TANGIBLE FIXED ASSETS

	Short Leasehold	Plant and	Commercial
	Properties	Machinery	Vehicles	Equipment	Motor Cars	Total
	£	£	£	£	£	£
Cost
At 1 April 2022	1,000	35,252	237,864	31,996	24,381	330,493
Additions	-	-	-	-	139,448	139,448
Disposals	-	(2,006)	-	-	(13,885)	(15,891)
At 31 March 2023	1,000	33,246	237,864	31,996	149,944	454,050
Depreciation
At 1 April 2022	522	27,777	146,714	17,367	14,095	206,475
Disposals	-	(1,669)	-	-	(8,027)	(9,696)
For the year	48	1,428	22,788	2,194	35,969	62,427
At 31 March 2023	570	27,536	169,502	19,561	42,037	259,206
Net Book Amounts
At 31 March 2023	430	5,710	68,362	12,435	107,907	194,844
At 31 March 2022	478	7,475	91,150	14,629	10,286	124,018
Included in 'Commercial Vehicles and Motor Cars' are assets held under hire purchase agreements.
The cost of these assets amounts to £379,086, accumulated depreciation provided amounts to £204,886 and depreciation provided in the year amounts to £58,067.




5. DEBTORS	2023	2022
	£	£
Amounts falling due within one year
Trade debtors	264,632	321,441
VAT	-	41,679
Other debtors	6,813	230
Amounts due from group companies	370,156	277,609
Prepayments	20,539	17,375
	662,140	658,334




6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	2023	2022
	£	£
UK corporation tax	45,101	18,584
VAT	43,590	-
PAYE control	17,669	16,020
Directors current account	-	5,224
Bank loans and overdrafts	7,406	-
Bank loan (unsecured)	10,000	10,000
Credit card	69,011	70,867
Hire purchase	27,621	41,435
Payments received on account	794,688	853,287
Trade creditors	242,598	473,576
Pension schemes	3,120	2,265
Accruals	7,960	37,331
	1,268,764	1,528,589




7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	2023	2022
	£	£
Bank loan (unsecured)	22,500	32,505
Hire purchase	128,971	42,794
	151,471	75,299

Hire purchase liabilities are payable as follows - between 2 to 5 years - £128,971.




10. SHARE CAPITAL	2023	2022
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
	2	2




11. OTHER FINANCIAL COMMITMENTS
At 31 March 2023 the company was committed to making the following payments under non-cancellable operating leases:

	2023	2022
	£	£
Operating Leases which expire:
Within one year	21,675	21,351
Within two to five years	21,675	42,701




12. CONTROLLING PARTY
The company is a wholly owned subsidiary of MW Group Holdings Limited, a company incorporated in England and whose registered office is situated at Unit 18, 865 Ringwood Road, Bournemouth, Dorset.