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REGISTERED NUMBER: 04109541 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Market Street Mortgages Limited

Market Street Mortgages Limited (Registered number: 04109541)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountant's Report 7

Market Street Mortgages Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: B C Varley
S Varley





SECRETARY: S Varley





REGISTERED OFFICE: Fiddler's Rest
20 Park Road
Alrewas
Burton-upon-Trent
Staffordshire
DE13 7AG





REGISTERED NUMBER: 04109541 (England and Wales)





ACCOUNTANT: Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN

Market Street Mortgages Limited (Registered number: 04109541)

Statement of Financial Position
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 196,701 244,008

CURRENT ASSETS
Debtors 5 1,200 1,200
Investments 6 48,988 -
Cash at bank and in hand 359,816 475,836
410,004 477,036
CREDITORS
Amounts falling due within one year 7 32,172 92,670
NET CURRENT ASSETS 377,832 384,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

574,533

628,374

CREDITORS
Amounts falling due after more than one
year

8

89,087

101,580
NET ASSETS 485,446 526,794

CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 484,546 525,894
SHAREHOLDERS' FUNDS 485,446 526,794

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Market Street Mortgages Limited (Registered number: 04109541)

Statement of Financial Position - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





B C Varley - Director


Market Street Mortgages Limited (Registered number: 04109541)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Market Street Mortgages Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold Properties - 1% reducing balance

Leasehold properties - Straight line over the life of the lease

Fixtures, fittings
and equipment - 33% on cost

Motor Vehicles - 20% on cost

Taxation
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 statement of financial position date.


Market Street Mortgages Limited (Registered number: 04109541)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and Motor
property leasehold fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2022 188,943 16,730 59,874 43,000 308,547
Additions - - 1,538 - 1,538
Disposals - - - (43,000 ) (43,000 )
At 31 August 2023 188,943 16,730 61,412 - 267,085
DEPRECIATION
At 1 September 2022 12,552 - 51,987 - 64,539
Charge for year 1,764 - 4,081 - 5,845
At 31 August 2023 14,316 - 56,068 - 70,384
NET BOOK VALUE
At 31 August 2023 174,627 16,730 5,344 - 196,701
At 31 August 2022 176,391 16,730 7,887 43,000 244,008

Market Street Mortgages Limited (Registered number: 04109541)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 1,200 1,200

6. CURRENT ASSET INVESTMENTS
31.8.23 31.8.22
£    £   
Other 48,988 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 17,312 22,130
Tax 6,296 67,339
Social security and other taxes 635 683
Other creditors 5,965 1,168
Directors' current accounts 714 100
Accrued expenses 1,250 1,250
32,172 92,670

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans - 2-5 years 89,087 101,580

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 106,399 123,710

Chartered Accountant's Report to the Board of Directors
on the Unaudited Financial Statements of
Market Street Mortgages Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Market Street Mortgages Limited for the year ended 31 August 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Market Street Mortgages Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Market Street Mortgages Limited and state those matters that I have agreed to state to the Board of Directors of Market Street Mortgages Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Market Street Mortgages Limited and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that Market Street Mortgages Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Market Street Mortgages Limited. You consider that Market Street Mortgages Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Market Street Mortgages Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Groucott Moor Limited
Lombard House
Cross Keys
Lichfield
Staffordshire
WS13 6DN


18 October 2023