Martello Burry Road Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09837105 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

MARTELLO BURRY ROAD LIMITED

PREVIOUSLY KNOWN AS

HR BURRY ROAD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D N Kowitz

REGISTERED OFFICE:

Savoy Hill House

Savoy Hill

London

WC2R 0BU

REGISTERED NUMBER:

09837105 (England and Wales)

ACCOUNTANTS:

Cassidys Chartered Accountants

South Stour Offices

Roman Road

Mersham

Ashford

Kent

TN25 7HS

CURRENT ASSETS

Stocks

2,976,365

1,716,289

Debtors

4

2,503

2,710

Cash at bank

5,140

71,245

2,984,008

1,790,244

CREDITORS

Amounts falling due within one year

5

1,395,575

1,328,261

NET CURRENT ASSETS

1,588,433

461,983

TOTAL ASSETS LESS CURRENT LIABILITIES

1,588,433

461,983

CREDITORS

Amounts falling due after more than one year

6

1,736,581

536,476

NET LIABILITIES

(148,148

)

(74,493

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(148,248

)

(74,593

)

SHAREHOLDERS' FUNDS

(148,148

)

(74,493

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 8 September 2020 and were signed by:

D N Kowitz - Director

1.	STATUTORY INFORMATION

Martello Burry Road Limited 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 (£).

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Going concern

During the year the company incurred a loss of £73,655 (2018 - £59,804) and at the balance sheet date had net

liabilities of £148,148 (2018 - £74,493). The financial statements have been prepared on a going concern basis

which assumes continuing support from the company director and creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Other debtors

2,503

2,710

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

-

2,871

Trade creditors

211

-

Amounts owed to group undertakings

886,482

1,110,467

Other creditors

508,882

214,923

1,395,575

1,328,261

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans

1,736,581

536,476

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.19

31.12.18

£

£

Bank loans

1,736,581

536,476

8.	RELATED PARTY DISCLOSURES

Martello Developments Limited formerly Hastings Redevelopment Limited

Holding Company

31/12/2018

31/12/2017

£

£

Amount due to related party at the balance sheet date

1,110,467

922,235

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Martello Developments Limited.

The ultimate controlling party is D N Kowitz.