Martello Financial Services Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 13032102 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

19 NOVEMBER 2020 TO 30 NOVEMBER 2021

FOR

MARTELLO FINANCIAL SERVICES HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R W Moore

J R Garvey

M J Lawrence

M Gleave

R Henderson

M Manning

REGISTERED OFFICE:

7 Bell Yard

London

United Kingdom

WC2A 2JR

REGISTERED NUMBER:

13032102 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Magma House

16 Davy Court

Castle Mound Way

Rugby

CV23 0UZ

FIXED ASSETS

Investments

4

142,138

CURRENT ASSETS

Debtors

5

357,862

Cash in hand

100

357,962

CREDITORS

Amounts falling due within one year

6

(501,200

)

NET CURRENT LIABILITIES

(143,238

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,100

)

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

(1,200

)

SHAREHOLDERS' FUNDS

(1,100

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2021 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2022 and were signed on its behalf by:

M Gleave - Director

1.	STATUTORY INFORMATION

Martello Financial Services Holdings Ltd is a limited company, registered in England and Wales. Its registered office address is 7 Bell Yard, London, WC2A 2JR and the registered number is 13032102.

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.

The financial statements are presented in Sterling (£).

Preparation of consolidated financial statements

The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.

Going concern

The company made a loss after tax of £1,200 during the year and net liabilities of £1,100 at the year end. The

directors have prepared the financial statements on a going concern basis as they have confirmed that they will continue to support the company for at least the next 12 months and will not request the repayment of their directors loan accounts until the company has sufficient funds to do so.

Investments in subsidiaries

Investment in the subsidiary company is held at cost less accumulated impairment losses.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless

the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

142,138

At 30 November 2021

142,138

NET BOOK VALUE

At 30 November 2021

142,138

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

357,862

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

501,200

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

10,000

Ordinary

0.01

100

10,000 Ordinary shares of 0.01 each were allotted and fully paid for cash at par during the period.

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.