Marketminster Limited Filleted accounts for Companies House (small and micro)

MARKETMINSTER LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 1880140

Marketminster Limited

Filleted Unaudited Financial Statements

30 June 2019

Marketminster Limited

Statement of Financial Position

30 June 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	4		181	226

Current assets

Debtors	5	67,500	55,256
Investments	6	130,665	140,565
Cash at bank and in hand		69,652	69,245
		--------	--------
		267,817	265,066

Creditors: amounts falling due within one year	7	145,839		123,463
		--------		--------
Net current assets			121,978	141,603
			--------	--------
Total assets less current liabilities			122,159	141,829
			--------	--------
Net assets			122,159	141,829
			--------	--------

Capital and reserves

Called up share capital	5,002	5,002
Profit and loss account	117,157	136,827
	--------	--------
Shareholders funds	122,159	141,829
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30th June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 6 December 2019 , and are signed on behalf of the board by:

Mr P Todd
Director

Company registration number: 1880140

Marketminster Limited

Notes to the Financial Statements

Year ended 30th June 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Investments

Current asset investments which comprise quoted securities are included at market value with changes in market value included in the income statement for the year.

Turnover for the year comprises of commissions and other fees receivable on ship broking contracts and associated consulting fees for services provided during the year.

(d) Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

(e) Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

(f) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(g) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	20% reducing balance

(h) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1st July 2018 and 30th June 2019	4,032	4,032
	------	------
Depreciation
At 1st July 2018	3,806	3,806
Charge for the year	45	45
	------	------
At 30th June 2019	3,851	3,851
	------	------
Carrying amount
At 30th June 2019	181	181
	------	------
At 30th June 2018	226	226
	------	------

5. Debtors

	2019	2018
	£	£
Trade debtors	60,462	47,656
Other debtors	7,038	7,600
	-------	-------
	67,500	55,256
	-------	-------

All these sums are receivable within one year.

6. Investments

	2019	2018
	£	£
Listed Investments	130,665	140,565
	--------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	116,306	75,580
Corporation tax	18,198	25,322
Other creditors	11,335	22,561
	--------	--------
	145,839	123,463
	--------	--------