Registration number:
Martian Developments Limited
for the Year Ended 31 July 2023
Martian Developments Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Martian Developments Limited
(Registration number: 12568513)
Balance Sheet as at 31 July 2023
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Martian Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Martian Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Tax
The tax expense for the period comprises current tax.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Improvements to leasehold property |
straight line over 15 years |
Fixtures, fittings and computer equipment |
straight line over 10 years/straight line over 3 years |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Martian Developments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
Tangible assets |
Improvements to leasehold property |
Fixtures, fittings and computer equipment |
Total |
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Cost or valuation |
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At 1 August 2022 |
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At 31 July 2023 |
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Depreciation |
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At 1 August 2022 |
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Charge for the year |
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At 31 July 2023 |
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Carrying amount |
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At 31 July 2023 |
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At 31 July 2022 |
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Debtors |
2023 |
2022 |
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Other debtors |
15,430 |
29,711 |
Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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