Martang Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08215613 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Martang Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms A Hall

M A Jenkins

REGISTERED OFFICE:

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

REGISTERED NUMBER:

08215613 (England and Wales)

ACCOUNTANTS:

Tranter Lowe (Oakengates) Limited

Chartered Accountants

International House

6 Market Street

Oakengates

Telford

Shropshire

TF2 6EF

FIXED ASSETS

Tangible assets

4

16,020

31,034

Investment property

5

2,028,416

2,225,214

2,044,436

2,256,248

CURRENT ASSETS

Debtors

6

8,500

-

Cash at bank

235,255

568

243,755

568

CREDITORS

Amounts falling due within one year

7

77,790

28,993

NET CURRENT ASSETS/(LIABILITIES)

165,965

(28,425

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,210,401

2,227,823

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

2,210,301

2,227,723

SHAREHOLDERS' FUNDS

2,210,401

2,227,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 23 September 2019 and were signed on its behalf by:

Ms A Hall - Director

1.	STATUTORY INFORMATION

Martang Ltd is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 7 years

Investment property

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only

on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008), it is a departure from general requirement of the Companies Act 2006 for all tangible

assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the

financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors

reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be

separately identified or quantified.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2018

43,838

Additions

1,815

Disposals

(17,341

)

At 31 December 2018

28,312

DEPRECIATION

At 1 January 2018

12,804

Charge for year

6,410

Eliminated on disposal

(6,922

)

At 31 December 2018

12,292

NET BOOK VALUE

At 31 December 2018

16,020

At 31 December 2017

31,034

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

2,225,214

Additions

16,034

Disposals

(212,832

)

At 31 December 2018

2,028,416

NET BOOK VALUE

At 31 December 2018

2,028,416

At 31 December 2017

2,225,214

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

8,500

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other creditors

5,407

-

Directors' current accounts

70,763

27,693

Accrued expenses

1,620

1,300

77,790

28,993

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2018

2,227,723

Deficit for the year

(17,422

)

At 31 December 2018

2,210,301