MARYLEBONE WORKS LTD

MARYLEBONE WORKS LTD - Company Information

2022-07-012023-06-302023-06-30false12060238MARYLEBONE WORKS 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Registered Number
12060238
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

MARYLEBONE WORKS LTD

Company Information
for the year from 1 July 2022 to 30 June 2023


Director	B S Dosanjh


Registered Address	Able House 61 Gorst Road
	London
	London
	NW10 6LS


Registered Number	12060238 (England and Wales)

MARYLEBONE WORKS LTD

Balance Sheet as at
30 June 2023

	Notes	2023		2022
		£	£	£	£
Current assets
Debtors		232,846		91,679
Cash at bank and on hand		20,159		83,608
		253,005		175,287
Creditors amounts falling due within one year	3	(462,311)		(320,019)
Net current assets (liabilities)			(209,306)		(144,732)
Total assets less current liabilities			(209,306)		(144,732)
Creditors amounts falling due after one year	4		(17,924)		(44,591)
Net assets			(227,230)		(189,323)
Capital and reserves
Called up share capital			30,000		30,000
Profit and loss account			(257,230)		(219,323)
Shareholders' funds			(227,230)		(189,323)

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 22 February 2024, and are signed on its behalf by:

B S Dosanjh
Director
Registered Company No. 12060238

MARYLEBONE WORKS LTD

Notes to the Financial Statements
for the year ended 30 June 2023

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The company meets day to day working capital requirements from director related entities or the director. The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts. Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.

Going concern

The company meets day to day working capital requirements from director related entities or the director.                                                                                                                                                                                                              The director has undertaken an assessment of whether the company was a going concern when the accounts were prepared, considering all available information about the future, covering a period of 12 months from the date of approval of the accounts.  Funds to meet the cashflow requirements are in place and the director does not anticipate any material overspend. The director is therefore satisfied that the going concern assumption remains appropriate.

	Judgements and key sources of estimation uncertainty
	The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Current taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company&apos;s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

	Deferred tax
	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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2.	Average number of employees


		2023		2022
	Average number of employees during the year	1		1

3.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	3,000	3,000
Taxation and social security	10,483	16,791
Other creditors	3,000	3,000
Accrued liabilities and deferred income	445,828	297,228
Total	462,311	320,019


	Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4.	Creditors: amounts due after one year

	2023	2022
	£	£
Bank borrowings and overdrafts	17,924	44,591
Total	17,924	44,591