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Registration number: 04483209

House Martin GRP Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

House Martin GRP Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

House Martin GRP Limited

Company Information

Directors

M J Chandler

K J Chandler

E B Stock

Registered office

39 Westhall Road
Warlingham
Surrey
CR6 9BJ

Accountants

Smart Accounting & Tax Solutions LLP
74A Station Road East
Oxted
Surrey
RH8 0PG

 

House Martin GRP Limited

(Registration number: 04483209)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

22,520

32,620

Current assets

 

Stocks

5

6,000

5,500

Debtors

6

21,473

17,637

Cash at bank and in hand

 

7,981

11,831

 

35,454

34,968

Creditors: Amounts falling due within one year

7

(57,715)

(66,723)

Net current liabilities

 

(22,261)

(31,755)

Total assets less current liabilities

 

259

865

Provisions for liabilities

(159)

(158)

Net assets

 

100

707

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

-

607

Shareholders' funds

 

100

707

 

House Martin GRP Limited

(Registration number: 04483209)
Balance Sheet as at 31 July 2023

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 8 April 2024 and signed on its behalf by:
 

.........................................
M J Chandler
Director

   
     
 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
39 Westhall Road
Warlingham
Surrey
CR6 9BJ

These financial statements were authorised for issue by the Board on 8 April 2024.

2

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 sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of 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.

Tax

The tax expense for the period comprises Corporation Tax, based on the Company's taxable profit and chargeable gains. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

The current corporation 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

20% Reducing balance

Motor vehicles

20% Straight line

Office equipment

20% Reducing balance

Furniture and fittings

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 August 2022

7,135

12,038

22,252

79,521

Additions

-

-

940

-

Disposals

-

-

-

(44,575)

At 31 July 2023

7,135

12,038

23,192

34,946

Depreciation

At 1 August 2022

5,414

10,911

20,437

51,564

Charge for the year

960

1,127

1,964

6,989

Eliminated on disposal

-

-

-

(44,575)

At 31 July 2023

6,374

12,038

22,401

13,978

Carrying amount

At 31 July 2023

761

-

791

20,968

At 31 July 2022

1,721

1,127

1,815

27,957

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Total
£

Cost or valuation

At 1 August 2022

120,946

Additions

940

Disposals

(44,575)

At 31 July 2023

77,311

Depreciation

At 1 August 2022

88,326

Charge for the year

11,040

Eliminated on disposal

(44,575)

At 31 July 2023

54,791

Carrying amount

At 31 July 2023

22,520

At 31 July 2022

32,620

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Stocks

2023
£

2022
£

Other inventories

6,000

5,500

6

Debtors

Current

2023
£

2022
£

Trade debtors

9,833

4,667

Other debtors

11,640

12,970

 

21,473

17,637

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

21,722

20,466

Taxation and social security

29,244

3,890

Accruals and deferred income

1,600

1,660

Other creditors

5,149

40,707

57,715

66,723

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

50

50

50

50

Ordinary B of £1 each

50

50

50

50

 

100

100

100

100

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,000

11,000

Loans to related parties

2023

Key management
£

Total
£

At start of period

(35,892)

(35,892)

Advanced

204,650

204,650

Repaid

(161,233)

(161,233)

At end of period

7,525

7,525

Terms of loans to related parties

As at the year end, the Company was owed £7,525 (2022: £35,892 owed to) by one of the Directors. The loan is interest free and repayable on demand.
 

Loans from related parties

2023

Key management
£

Total
£

At start of period

(35,892)

(35,892)

At end of period

(35,892)

(35,892)

2022

Key management
£

Total
£

At start of period

(994)

(994)

Advanced

3,133

3,133

Repaid

(38,031)

(38,031)

At end of period

(35,892)

(35,892)

Terms of loans from related parties

 

House Martin GRP Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

As at the year end, the Company owed £35,892 (2021: £994) to one of the Directors. The loan is interest free and repayable on demand.