MARTYN_EDWARDS_LIMITED - Accounts

MARTYN EDWARDS LIMITED - Company Information

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Company Registration No. 04570886 (England and Wales)

MARTYN EDWARDS LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

Evolution Business and Tax Advisors LLP

Wynyard Park House

Wynyard Avenue

Wynyard

TS22 5TB

MARTYN EDWARDS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

MARTYN EDWARDS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

299,320

305,764

Current assets

Stocks

265,000

264,415

Debtors

284,725

340,642

Cash at bank and in hand

921

500

550,646

605,557

Creditors: amounts falling due within one year

(708,208)

(660,616)

Net current liabilities

(157,562)

(55,059)

Total assets less current liabilities

141,758

250,705

Creditors: amounts falling due after more than one year

(77,935)

(121,727)

Provisions for liabilities

(16,470)

(14,843)

47,353

114,135

Capital and reserves

Called up share capital

100

Profit and loss account

47,253

114,035

Shareholders' funds

47,353

114,135

MARTYN EDWARDS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 2 -

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 2 September 2015

Mr D E Atkinson

Director

Company Registration No. 04570886

MARTYN EDWARDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Not depreciated

Leasehold improvements

Equal instalments of the period of the lease

Plant and machinery

15% reducing balance

Fixtures & equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.6

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

1.7

Stock

Stock is valued at the lower of cost and net realisable value.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

MARTYN EDWARDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

Accounting policies

(Continued)

- 4 -

1.10

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 January 2014

200,000

528,854

728,854

Additions

24,250

Disposals

(10,625)

At 31 December 2014

200,000

542,479

742,479

Depreciation

At 1 January 2014

200,000

223,090

423,090

On disposals

(8,406)

Charge for the year

28,475

At 31 December 2014

200,000

243,159

443,159

Net book value

At 31 December 2014

299,320

At 31 December 2013

305,764

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £138,764 (2013 - £38,161).

Share capital

2014

2013

Allotted, called up and fully paid

92 ordinary shares of £1 each

8 A ordinary shares of £1 each

100

MARTYN EDWARDS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 5 -

Related party relationships and transactions

Machine rentals

The directors rented plant and machinery to the company to the value of £6,000 (2013 - £6,000). No amounts were outstanding at the year end.

Related party trading activities

In the year, Martyn Edwards Limited traded with businesses in which the directors held an interest as detailed:

2014

2013

Sales/Recharges

Fish Face

9,841

1,080

All Wrapped Up

979

833

The Odd Cod

5,021

1,685

Lashbrooks.com Limited

13,808

17,774

Frank Ford Service 2 Limited

27,867

Purchases

Lashbrooks.com Limited

320

Debtor/(Creditor)

Fish Face

1,279

(325)

All Wrapped Up

3,578

2,404

The Odd Cod

102

1,215

Lashbrooks.com Limited

33,527

29,171

Frank Ford Service 2 Limited

26,420

Fish Face is a partnership and the partners are the wife and son of D E Atkinson, a director.

All Wrapped Up is a partnership and the partners are the wife and son of S Price, a director.

The Odd Cod is the business of D E Atkinson's wife.

Other debtors includes £11,396 due from Lashbrooks.com Limited, a company in which the directors have an interest.

Frank Ford Service 2 Limited is a company owned by D E Atkinson and S E Price.