Martin & Partners Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03900693 (England and Wales)

Martin & Partners Ltd

Unaudited Financial Statements

for the Year Ended 31st March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

D G Dickens

Mrs M Dickens

Mrs R Leggatt

M Leggatt

SECRETARY:

Mrs M Dickens

REGISTERED OFFICE:

Gladstone Close

Gladstone Road

Northampton

Northamptonshire

NN5 7AY

REGISTERED NUMBER:

03900693 (England and Wales)

ACCOUNTANTS:

Cheney & Co

310 Wellingborough Road

Northampton

NN1 4EP

FIXED ASSETS

Tangible assets

5

36,235

39,426

CURRENT ASSETS

Stocks

199,849

240,947

Debtors

6

143,732

129,280

Cash at bank and in hand

111,436

92,641

455,017

462,868

CREDITORS

Amounts falling due within one year

7

286,385

302,536

NET CURRENT ASSETS

168,632

160,332

TOTAL ASSETS LESS CURRENT LIABILITIES

204,867

199,758

PROVISIONS FOR LIABILITIES

9

5,100

6,100

NET ASSETS

199,767

193,658

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

198,767

192,658

SHAREHOLDERS' FUNDS

199,767

193,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 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 on 6th November 2019 and were signed on its behalf by:

D G Dickens - Director

Mrs M Dickens - Director

1.	STATUTORY INFORMATION

Martin & Partners 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.

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

The principal activity for the year under review was the supply of building and maintenance supplies to both the

retail and trade sectors.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

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

-

10% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st April 2018

and 31st March 2019

191,407

24,110

215,517

DEPRECIATION

At 1st April 2018

159,611

16,480

176,091

Charge for year

1,284

1,907

3,191

At 31st March 2019

160,895

18,387

179,282

NET BOOK VALUE

At 31st March 2019

30,512

5,723

36,235

At 31st March 2018

31,796

7,630

39,426

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

135,886

124,668

Other debtors

7,846

4,612

143,732

129,280

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

64,164

77,954

Taxation and social security

30,306

43,031

Other creditors

191,915

181,551

286,385

302,536

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

3,581

3,581

Between one and five years

4,775

8,356

8,356

11,937

9.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

5,100

6,100

Deferred

tax

£

Balance at 1st April 2018

6,100

Utilised during year

(1,000

)

Balance at 31st March 2019

5,100

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.	CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st March 2019 or 31st March 2018.

12.	CAPITAL COMMITMENTS

There were no capital commitments as at 31st March 2019 or 31st March 2018.

13.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £18,000 (2018: £16,500) to the directors of the company.