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REGISTERED NUMBER: 04118888 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Mart Network Solutions Limited

Mart Network Solutions Limited (Registered number: 04118888)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Mart Network Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A Maloo
S Maloo
Mr M Maloo
Mrs T A Maloo





SECRETARY: Mr A Maloo





REGISTERED OFFICE: 450, Abbey House
Bath Road
West Drayton
Middlesex
UB7 0EB





REGISTERED NUMBER: 04118888 (England and Wales)





ACCOUNTANTS: M Cubed Chartered Accountants
8 The Courtyard
Gaulby Lane
Stoughton
Leicestershire
LE2 2FL

Mart Network Solutions Limited (Registered number: 04118888)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,449 933

CURRENT ASSETS
Stock 101,220 181,481
Debtors 5 3,378,131 5,703,984
Cash in hand 528,192 640,257
4,007,543 6,525,722
CREDITORS
Amounts falling due within one year 6 (2,964,409 ) (5,458,710 )
NET CURRENT ASSETS 1,043,134 1,067,012
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,044,583

1,067,945

CREDITORS
Amounts falling due after more than one year 7 (58,800 ) (93,720 )

PROVISIONS FOR LIABILITIES 9 (275 ) (177 )
NET ASSETS 985,508 974,048

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 985,407 973,947
SHAREHOLDERS' FUNDS 985,508 974,048

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Mart Network Solutions Limited (Registered number: 04118888)

Balance Sheet - continued
31 December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





Mr M Maloo - Director


Mart Network Solutions Limited (Registered number: 04118888)

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

1. STATUTORY INFORMATION

Mart Network Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recognised by reference to the stage of completion.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 20% on cost

STOCK
Stock are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS
Basic financial assets, which includes debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortisation cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 balance sheet date.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Mart Network Solutions Limited (Registered number: 04118888)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 52,354 13,449 65,803
Additions - 888 888
At 31 December 2023 52,354 14,337 66,691
DEPRECIATION
At 1 January 2023 52,354 12,516 64,870
Charge for year - 372 372
At 31 December 2023 52,354 12,888 65,242
NET BOOK VALUE
At 31 December 2023 - 1,449 1,449
At 31 December 2022 - 933 933

5. DEBTORS
31/12/23 31/12/22
£    £   
Amounts falling due within one year:
Trade debtors 2,821,935 5,209,833
Other debtors 344,336 329,548
Directors' current accounts 70,164 37,233
VAT 141,476 119,727
Prepayments and accrued income 220 6,249
3,378,131 5,702,590

Amounts falling due after more than one year:
Rent Deposit - 1,394

Aggregate amounts 3,378,131 5,703,984

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts (see note 8) 35,280 35,640
Trade creditors 2,812,346 5,218,589
Corporation tax 80,160 91,264
Social security and other taxes 2,241 1,785
Other creditors 30,108 30,384
Directors' current accounts 957 40,766
Accruals 3,317 40,282
2,964,409 5,458,710

Mart Network Solutions Limited (Registered number: 04118888)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans (see note 8) 58,800 93,720

8. LOANS

An analysis of the maturity of loans is given below:

31/12/23 31/12/22
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,280 35,640

Amounts falling due between one and two years:
Bank loans - 1-2 years 58,800 93,720

9. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 275 177

Deferred
tax
£   
Balance at 1 January 2023 177
Movement for the year 98
Balance at 31 December 2023 275

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31/12/23 31/12/22
£    £   
Mr M Maloo and Mr A Maloo
Balance outstanding at start of year (3,533 ) (152,931 )
Amounts advanced 233,576 269,398
Amounts repaid (160,836 ) (120,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,207 (3,533 )

The director's overdrawn loan balance of £69,207 will be repaid within 9 months from the end of this financial year.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mart Network Solutions 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income 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, we have prepared for your approval the financial statements of Mart Network Solutions Limited for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are 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 Mart Network Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mart Network Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Mart Network Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mart Network Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mart Network Solutions 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 Mart Network Solutions Limited. You consider that Mart Network Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mart Network Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






M Cubed Chartered Accountants
8 The Courtyard
Gaulby Lane
Stoughton
Leicestershire
LE2 2FL


6 August 2024