Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

MARCO POLO ENTERPRISES LIMITED - Company Information

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MARCO POLO ENTERPRISES LIMITED

Company Registration Number:
04556303 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

MARCO POLO ENTERPRISES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2016

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

MARCO POLO ENTERPRISES LIMITED

Company Information

for the Period Ended 31 March 2016




Director: Tavi Thevarajah
Secretary: Mrs K T Thevarajah
Registered office: 56
Wolsey Road
Moor Park
Northwood
Middlesex
HA6 2EH
Company Registration Number: 04556303 (England and Wales)

MARCO POLO ENTERPRISES LIMITED

Directors' Report Period Ended 31 March 2016

The directors present their report with the financial statements of the company for the period ended 31 March 2016

Principal Activities

The principal activity of the company during the year has been that of fuel sales and rental

Directors
 The directors shown below have held office during the whole of the period from
01 April 2015 to 31 March 2016
Tavi Thevarajah

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 30 November 2016
And Signed On Behalf Of The Board By:

Name: Tavi Thevarajah
Status: Director

MARCO POLO ENTERPRISES LIMITED

Profit and Loss Account

for the Period Ended 31 March 2016


Notes
2016
£
2015
£
Turnover: 2 2,019,505 2,121,535
Cost of sales: ( 1,869,146 ) ( 2,008,838 )
Gross profit or (loss): 150,359 112,697
Administrative expenses: ( 32,396 ) ( 31,399 )
Operating profit or (loss): 3 117,963 81,298
Interest payable and similar charges: ( 12,442 )
Profit or (loss) on ordinary activities before taxation: 105,521 81,298
Tax on profit or (loss) on ordinary activities: 4 ( 22,059 ) ( 17,205 )
Profit or (loss) for the financial year: 83,462 64,093

The notes form part of these financial statements

MARCO POLO ENTERPRISES LIMITED

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report

MARCO POLO ENTERPRISES LIMITED

Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Tangible assets: 5 432,917 437,917
Total fixed assets: 432,917 437,917
Current assets
Stocks: 6 16,301 13,623
Debtors: 7 687,096 59,161
Cash at bank and in hand: 77,075 38,081
Total current assets: 780,472 110,865
Creditors: amounts falling due within one year: 8 ( 274,013 ) ( 179,384 )
Net current assets (liabilities): 506,459 ( 68,519 )
Total assets less current liabilities: 939,376 369,398
Creditors: amounts falling due after more than one year: 9 ( 582,105 ) ( 95,589 )
Total net assets (liabilities): 357,271 273,809

The notes form part of these financial statements

MARCO POLO ENTERPRISES LIMITED

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 10 1 1
Profit and loss account: 11 357,270 273,808
Shareholders funds: 357,271 273,809

For the year ending 31 March 2016 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 30 November 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Tavi Thevarajah
Status: Director

The notes form part of these financial statements

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

    Turnover policy

    Turnover represents amounts receivable for rental and fuel sales net of value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is calculated to write off the cost or valuation, less residual values, of tangible fixed assets over their estimated useful lives as follows:
    .
    Freehold land and building 1% per annum at cost

    Fixtures and fittings 20% per annum at cost

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 2. Turnover

    The principal activity of the company during the year has been that of fuel sales and rental.

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 3. Operating profit or (loss)

    Operating profit or (loss) before tax as stated after charging the following.


    2016
    £
    2015
    £
    Depreciation - owned assets: 5,000 5,000

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 4. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:


    2016
    £
    2015
    £
    UK Corporation tax: 22,059 17,205
    Tax on profit or (loss) on ordinary activities: 22,059 17,205
    Profit or (loss) on ordinary activities before taxation: 105,521 81,298
    Profit or (loss) on ordinary activities before taxation multiplied by the rate(s) of Corporation Tax applicable: 22,104 17,260
    Accelerated capital allowances: 45 55
    Current tax charge or (credit): 22,059 17,205

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 5. Tangible assets

    Land and buildings Plant and Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    01 April 2015: 500,000 - 42,447 - - 542,447
    Additions: - - - - - 0
    Disposals: - - - - - 0
    Revaluations: - - - - - 0
    Transfers: - - - - - 0
    31 March 2016: 500,000 - 42,447 - - 542,447
    Depreciation
    01 April 2015: 62,083 - 42,447 - - 104,530
    Charge for year: 5,000 - - - - 5,000
    On disposals: - - - - - 0
    Other adjustments: - - - - - 0
    31 March 2016: 67,083 - 42,447 - - 109,530
    Net book value
    31 March 2016: 432,917 - 0 - - 432,917
    31 March 2015: 437,917 - 0 - - 437,917

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 6. Stocks


    2016
    £
    2015
    £
    Stocks of raw materials and consumables: 16,301 13,623
    Total: 16,301 13,623

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 7. Debtors


    2016
    £
    2015
    £
    Trade debtors: 27,075 53,365
    Prepayments and accrued income: 5,000 5,000
    Other debtors: 655,021 796
    Total: 687,096 59,161

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 8. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 49,651
    Trade creditors: 107,748 107,427
    Taxation and social security: 25,902 17,205
    Accruals and deferred income: 35,960
    Other creditors: 54,752 54,752
    Total: 274,013 179,384

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 9. Creditors: amounts falling due after more than one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 486,516
    Other creditors: 95,589 95,589
    Total: 582,105 95,589

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1

MARCO POLO ENTERPRISES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 11. Profit and loss account


    2016
    £
    2015
    £
    Opening balance: 273,808 209,715
    Profit or (loss) for the period: 83,462 64,093
    Retained profit: 357,270 273,808