Martin Street Limited
Martin Street Limited
Registered number: 04481706
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Martin Street Limited
Contents
Contents
| Page | |
|---|---|
| Abridged Balance Sheet | 1—2 |
| Notes to the Abridged Financial Statements | 3—4 |
Martin Street Limited
Abridged Balance Sheet
As At
31 March 2024
Abridged Balance Sheet
Registered number:
04481706
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
| 2024 | 2023 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | - |
( |
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| NET (LIABILITIES)/ASSETS |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
( |
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| SHAREHOLDERS' FUNDS | (3,629) | 487 | |||
Martin Street Limited
Abridged Balance Sheet (continued)
As At
31 March 2024
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Martin Street Limited
Notes to the Abridged Financial Statements
For The Year Ended 31 March 2024
Notes to the Abridged Financial Statements
1.
General Information
Martin Street Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04481706
. The registered office is Units 1-2 Warrior Court, 9-11 Mumby Road, Gosport, Hampshire, PO12 1BS.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The directors believe that the going concern basis is not appropriate as the directors have commenced to cease trading as at 31 March 2024. The financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.5.
Taxation
2.5.
Taxation - continued
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.
...CONTINUED
Martin Street Limited
Notes to the Abridged Financial Statements (continued)
For The Year Ended 31 March 2024
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.
3.
Average Number of Employees
The average number of persons employed under contracts of service during the year was: NIL (2023: NIL)
4.
Tangible Assets
| Total | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2023 |
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| Disposals |
( |
| Depreciation | |
| As at 1 April 2023 |
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| Disposals |
( |
| As at 31 March 2024 |
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| Net Book Value | |
| As at 31 March 2024 |
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| As at 1 April 2023 |
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