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REGISTERED NUMBER: 02172067 (England and Wales)















MARTRAD LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MARTRAD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: M B Richards FCA
M D Harrison





SECRETARY: M B Richards FCA





REGISTERED OFFICE: PO Box 111
Richmond
Macclesfield Road
Macclesfield
Cheshire
SK10 4DH





REGISTERED NUMBER: 02172067 (England and Wales)





AUDITORS: DJH Mitten Clarke Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 42,875 50,595

CURRENT ASSETS
Debtors 5 3,293,035 3,436,310
Cash at bank and in hand 2,714,885 2,278,998
6,007,920 5,715,308
CREDITORS
Amounts falling due within one year 6 (88,653 ) (149,564 )
NET CURRENT ASSETS 5,919,267 5,565,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,962,142

5,616,339

PROVISIONS FOR LIABILITIES (475,472 ) (360,291 )
NET ASSETS 5,486,670 5,256,048

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 5,386,670 5,156,048
SHAREHOLDERS' FUNDS 5,486,670 5,256,048

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 29 February 2024 and were signed on its behalf by:





M D Harrison - Director


MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Martrad Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02172067 and its registered office address is PO Box 111, Richmond, Macclesfield Road, Macclesfield, Cheshire, England, SK10 4DH.

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.

The directors believe that the company is well placed to face the risks at these challenging times and therefore continues to adopt a going concern basis in preparing these financial statements.

Revenue
Revenue represents rental of equipment, finance lease interest and loan interest, excluding value added tax.

All of the income from finance leasing and hire purchase contracts, being the excess of total rentals received over the cost of net investment in finance lease and hire purchase contracts, is recognised in the income statement based on a pattern that reflects a constant periodic rate of return on the lessor's net investment in the finance lease. The method adopted is the actuarial method.

The total net investment in finance leases and hire purchase contracts included in the statement of financial position represents total lease payments receivable net of finance lease and hire purchase contract income relating to future accounting periods. Amounts written off the net investment in such leases are calculated to write off the cost over the primary periods of the contracts.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

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.


MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Dividends
Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Critical accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

The directors use judgement to provide against bad debts using knowledge of customers and experience. The provisions are revisited after the statement of financial position date to ensure appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 August 2022 98,412
Additions 4,832
At 31 July 2023 103,244
DEPRECIATION
At 1 August 2022 47,817
Charge for year 12,552
At 31 July 2023 60,369
NET BOOK VALUE
At 31 July 2023 42,875
At 31 July 2022 50,595

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 27,830 25,981
Amounts receivable in respect
of finance leases 904,684 908,241
Other debtors 51,649 41,213
984,163 975,435

Amounts falling due after more than one year:
Amounts receivable in respect
of finance leases 2,308,872 2,460,875
2,308,872 2,460,875

Aggregate amounts 3,293,035 3,436,310

Of the amounts due after one year, £2,281,626 is due within 1-5 years (2022: £2,423,554) and £27,246 is due after 5 years (2022: £37,321).

MARTRAD LIMITED (REGISTERED NUMBER: 02172067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 25,953 13,076
Taxation and social security 49,250 125,786
Other creditors 13,450 10,702
88,653 149,564

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Bell (Senior Statutory Auditor)
for and on behalf of DJH Mitten Clarke Audit Limited