2 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 11,000 11,000 1,941 1,083 647 1,730 211 858 xbrli:pure xbrli:shares iso4217:GBP 10596381 2022-04-01 2023-03-31 10596381 2023-03-31 10596381 2022-03-31 10596381 2021-04-01 2022-03-31 10596381 2022-03-31 10596381 core:NetGoodwill 2022-04-01 2023-03-31 10596381 bus:Director1 2022-04-01 2023-03-31 10596381 core:NetGoodwill 2023-03-31 10596381 core:WithinOneYear 2023-03-31 10596381 core:WithinOneYear 2022-03-31 10596381 core:AfterOneYear 2023-03-31 10596381 core:AfterOneYear 2022-03-31 10596381 core:ShareCapital 2023-03-31 10596381 core:ShareCapital 2022-03-31 10596381 core:RetainedEarningsAccumulatedLosses 2023-03-31 10596381 core:RetainedEarningsAccumulatedLosses 2022-03-31 10596381 bus:SmallEntities 2022-04-01 2023-03-31 10596381 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10596381 bus:FullAccounts 2022-04-01 2023-03-31 10596381 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10596381 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10596381 core:OfficeEquipment 2023-03-31 10596381 core:OfficeEquipment 2022-03-31 10596381 core:OfficeEquipment 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 10596381
Martyn Reader Mortgages Limited
Filleted Unaudited Financial Statements
31 March 2023
Martyn Reader Mortgages Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
211
858
Current assets
Cash at bank and in hand
14,404
22,767
Creditors: amounts falling due within one year
7
13,226
13,624
--------
--------
Net current assets
1,178
9,143
-------
--------
Total assets less current liabilities
1,389
10,001
Creditors: amounts falling due after more than one year
8
9,373
13,383
-------
--------
Net liabilities
( 7,984)
( 3,382)
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,084)
( 3,482)
-------
-------
Shareholders deficit
( 7,984)
( 3,382)
-------
-------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 October 2023 , and are signed on behalf of the board by:
M Reader
Director
Company registration number: 10596381
Martyn Reader Mortgages Limited
Notes to the Financial Statements
Year ended 31 March 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 24 Bridge Street, Newport, South Wales, NP20 4SF.
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 and rounded to the nearest whole pound.
Going concern
There are no material uncertainties relating to the going concern status of the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% p.a. Straight line basis
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Equipment
-
33% p.a.Straight line basis
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
11,000
--------
Amortisation
At 1 April 2022 and 31 March 2023
11,000
--------
Carrying amount
At 31 March 2023
--------
At 31 March 2022
--------
6. Tangible assets
Equipment
£
Cost
At 1 April 2022 and 31 March 2023
1,941
-------
Depreciation
At 1 April 2022
1,083
Charge for the year
647
-------
At 31 March 2023
1,730
-------
Carrying amount
At 31 March 2023
211
-------
At 31 March 2022
858
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,011
4,011
Corporation tax
8,923
9,526
Other creditors
292
87
--------
--------
13,226
13,624
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
9,373
13,383
-------
--------
9. Director's advances, credits and guarantees
As at 31 March 2023 the director was owed by the company £292 (2022: £87).