Martek Holdings Limited Small abridged accounts

MARTEK HOLDINGS LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Martek Holdings Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 04023095

Martek Holdings Limited

Unaudited Abridged Financial Statements

28 February 2017

KAIZEN CONSULTING

Chartered accountant

Suite 2 Hull Sports Centre

Chanterlands Ave North

Hull

England

HU5 4EF

Martek Holdings Limited

Abridged Financial Statements

Year ended 28 February 2017

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Abridged statement of financial position	3

Notes to the abridged financial statements	4

Martek Holdings Limited

Directors' Report

Year ended 28 February 2017

The directors present their report and the unaudited abridged financial statements of the company for the year ended 28 February 2017 .

Principal activities

The principal activity of the company during the year was that of a holding company.

Directors

The directors who served the company during the year were as follows:

Mr M Pringle
Mr S Coulson
Mr P Luen

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 8 November 2017 and signed on behalf of the board by:

Mr P Luen

Director

Registered office:

6a Adwick Park

Manvers

Rotherham

South Yorkshire

England

S63 5AB

Martek Holdings Limited

Statement of Income and Retained Earnings

Year ended 28 February 2017

	2017	2016
Note	£	£
Gross profit	–	–

Income from shares in group undertakings	200,000	100,000
	---------	---------
Profit before taxation	200,000	100,000

Tax on profit	–	–
	---------	---------
Profit for the financial year and total comprehensive income	200,000	100,000
	---------	---------

Dividends paid and payable	( 200,000)	( 100,000)

Retained earnings at the start of the year	14,458	14,458
	---------	---------
Retained earnings at the end of the year	14,458	14,458
	---------	---------

All the activities of the company are from continuing operations.

Martek Holdings Limited

Abridged Statement of Financial Position

28 February 2017

	2017	2016
Note	£	£

Fixed assets

Investments	5	23,832	23,832

Creditors: amounts falling due within one year	7,374	7,374
	-------	-------
Net current liabilities	7,374	7,374
	--------	--------
Total assets less current liabilities	16,458	16,458
	--------	--------

Capital and reserves

Called up share capital	2,000	2,000
Profit and loss account	14,458	14,458
	--------	--------
Members funds	16,458	16,458
	--------	--------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 28 February 2017 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 abridged 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 abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 8 November 2017 , and are signed on behalf of the board by:

Mr P Luen

Director

Company registration number: 04023095

Martek Holdings Limited

Notes to the Abridged Financial Statements

Year ended 28 February 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6a Adwick Park, Manvers, Rotherham, South Yorkshire, S63 5AB, England.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.

Consolidation

The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to 3 (2016: 3).

5. Investments

	£
Cost
At 29 February 2016 and 28 February 2017	23,832
	--------
Impairment
At 29 February 2016 and 28 February 2017	–
	--------
Carrying amount
At 28 February 2017	23,832
	--------

6. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.

No transitional adjustments were required in equity or profit or loss for the year.