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REGISTERED NUMBER: 01652286 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MARTIN GRAIN COMPANY LIMITED

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MARTIN GRAIN COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: M J Felton
W G Felton
Miss O G Felton





REGISTERED OFFICE: Windover House
St. Ann Street
Salisbury
SP1 2DR





REGISTERED NUMBER: 01652286 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,000 1,000
Investments 5 6,785 6,785
Investment property 6 1,160,000 1,160,000
1,167,785 1,167,785

CURRENT ASSETS
Debtors 7 367,558 293,952

CREDITORS
Amounts falling due within one year 8 337,577 324,049
NET CURRENT ASSETS/(LIABILITIES) 29,981 (30,097 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,197,766 1,137,688

CREDITORS
Amounts falling due after more than one
year

9

117,678

127,659
NET ASSETS 1,080,088 1,010,029

CAPITAL AND RESERVES
Called up share capital 11 385 385
Capital redemption reserve 15 15
Retained earnings 1,079,688 1,009,629
SHAREHOLDERS' FUNDS 1,080,088 1,010,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

BALANCE SHEET - continued
30 NOVEMBER 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





M J Felton - Director


MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Martin Grain Company 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.

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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property
The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The method and significant assumptions used to determine the fair value of investment property are further explained in Note 6.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold reversionary interest - Not depreciated

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property represents the company's portfolio of freehold rents. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure.

Investment property whose fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a non contributory scheme for some of its employees. It is defined contribution scheme and the costs are charged to the profit and loss account as they accrue.


Consolidation
The company and its subsidiary company comprise a small group. The company has therefore taken advantage of the exemption provided in section 398 of the Companies Act 2006, not to prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking.

Debtors
Debtors are measured at their recoverable amount.

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 December 2022
and 30 November 2023 1,000
NET BOOK VALUE
At 30 November 2023 1,000
At 30 November 2022 1,000


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 6,785
NET BOOK VALUE
At 30 November 2023 6,785
At 30 November 2022 6,785

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,160,000
NET BOOK VALUE
At 30 November 2023 1,160,000
At 30 November 2022 1,160,000

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2023 1,160,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,633,352 1,633,352

Investment property was valued on an open market basis on 30 November 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,852 62,178
Other debtors 355,706 231,774
367,558 293,952

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 116,059 119,886
Trade creditors 31,768 14,382
Taxation and social security 50,309 70,585
Other creditors 139,441 119,196
337,577 324,049

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 117,678 127,659

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 106,059 109,878
Bank loans 127,678 137,667
233,737 247,545

MARTIN GRAIN COMPANY LIMITED (REGISTERED NUMBER: 01652286)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
385 Ordinary £1 385 385

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
M J Felton
Balance outstanding at start of year 28,158 -
Amounts advanced - 28,158
Amounts repaid (28,158 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 28,158

Included in creditors due within one year is £77,354 (2022 debtor £28,158) due to a director of the company.