Martali Management Limited Filleted accounts for Companies House (small and micro)

MARTALI MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04216369

Martali Management Limited

Unaudited financial statements

30 November 2023

Martali Management Limited

Statement of financial position

30 November 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5	4,537	5,335
Investments	6	150	150
		------	------
		4,687	5,485

Current assets

Stocks		2,184,632	2,947,430
Debtors	7	81,894	66,839
Cash at bank and in hand		1,961,274	1,205,375
		-----------	-----------
		4,227,800	4,219,644

Creditors: Amounts falling due within one year	8	( 41,624)		( 143,434)
		-----------		-----------
Net current assets			4,186,176		4,076,210
			-----------		-----------
Total assets less current liabilities			4,190,863		4,081,695

Provisions

Taxation including deferred tax	( 1,577)	( 1,340)
	-----------	-----------
Net assets	4,189,286	4,080,355
	-----------	-----------

Capital and reserves

Called up share capital	2,000,003	2,000,003
Profit and loss account	2,189,283	2,080,352
	-----------	-----------
Shareholders funds	4,189,286	4,080,355
	-----------	-----------

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 Section 1A of 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 income statement has not been delivered.

For the year ending 30 November 2023 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 .

Martali Management Limited

Statement of financial position (continued)

30 November 2023

These financial statements were approved by the board of directors and authorised for issue on 7 June 2024 , and are signed on behalf of the board by:

Mrs A M Bertram

Director

Company registration number: 04216369

Martali Management Limited

Notes to the financial statements

Year ended 30 November 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Manor, Bergh Apton, Norwich, Norfolk, NR15 1BL.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 pay or recover 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.

Tangible assets

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

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:

Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of employees during the year was 4 (2022: 4 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 December 2022	17,553	17,158	34,711
Additions	–	1,703	1,703
	-------	-------	-------
At 30 November 2023	17,553	18,861	36,414
	-------	-------	-------
Depreciation
At 1 December 2022	17,553	11,823	29,376
Charge for the year	–	2,501	2,501
	-------	-------	-------
At 30 November 2023	17,553	14,324	31,877
	-------	-------	-------
Carrying amount
At 30 November 2023	–	4,537	4,537
	-------	-------	-------
At 30 November 2022	–	5,335	5,335
	-------	-------	-------

6. Investments

	Shares in participating interests
	£
Cost
At 1 December 2022 and 30 November 2023	150
	----
Impairment
At 1 December 2022 and 30 November 2023	–
	----

Carrying amount
At 30 November 2023	150
	----
At 30 November 2022	150
	----

7. Debtors

	2023	2022
	£	£
Other debtors	81,894	66,839
	-------	-------

8. Creditors: Amounts falling due within one year

	2023	2022
	£	£
Social security and other taxes	28,146	–
Other creditors	13,478	143,434
	-------	---------
	41,624	143,434
	-------	---------

9. Directors' advances, credits and guarantees

During the year, the company operated an interest free loan with the directors. As at 30 November 2023, the company owed the directors £8,925 (2022: £139,224).