Registered number
09092298
Martin Todd Ltd
Unaudited Filleted Accounts
31 March 2023
Martin Todd Ltd
Registered number: 09092298
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 69,049 43,976
Cash at bank and in hand 15,975 27,627
85,024 71,603
Creditors: amounts falling due within one year 4 (21,569) (19,097)
Net current assets 63,455 52,506
Net assets 63,455 52,506
Capital and reserves
Called up share capital 100 100
Profit and loss account 63,355 52,406
Shareholder's funds 63,455 52,506
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Todd
Director
Approved by the board on 22 November 2023
Martin Todd Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. No provision for deferred tax has been made since the director is of the opinion that no liability will crystallise in the foreseeable future.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Debtors 2023 2022
£ £
Trade debtors 69,049 43,976
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 19,381 16,761
Other creditors 2,188 2,336
21,569 19,097
5 Other information
Martin Todd Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Old Granary, Gate Court Farm
Station Road
Northiam
TN31 6QT
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