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REGISTERED NUMBER: 01035308 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Martin Woolman Limited

Martin Woolman Limited (Registered number: 01035308)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Martin Woolman Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mrs L Gallafent





SECRETARY: Mrs L Gallafent





REGISTERED OFFICE: Unit 12
Martinfield Business Centre
Martinfield
Welwyn Garden City
Hertfordshire
AL7 1HG





REGISTERED NUMBER: 01035308 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Martin Woolman Limited (Registered number: 01035308)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 157,917 36,536

CURRENT ASSETS
Stocks 6 280,783 326,640
Debtors 7 750,280 788,789
Cash at bank 470,899 98,216
1,501,962 1,213,645
CREDITORS
Amounts falling due within one year 8 249,682 175,243
NET CURRENT ASSETS 1,252,280 1,038,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,410,197

1,074,938

PROVISIONS FOR LIABILITIES 39,199 8,792
NET ASSETS 1,370,998 1,066,146

CAPITAL AND RESERVES
Called up share capital 11,112 11,112
Share premium 28,890 28,890
Retained earnings 1,330,996 1,026,144
SHAREHOLDERS' FUNDS 1,370,998 1,066,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Woolman Limited (Registered number: 01035308)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 21 August 2024 and were signed by:





Mrs L Gallafent - Director


Martin Woolman Limited (Registered number: 01035308)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Martin Woolman 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% Reducing balance
Fixtures and fittings - 15% reducing balance method
Computer equipment - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Martin Woolman Limited (Registered number: 01035308)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 205,912
Additions 155,155
At 31 March 2024 361,067
DEPRECIATION
At 1 April 2023 169,376
Charge for year 33,774
At 31 March 2024 203,150
NET BOOK VALUE
At 31 March 2024 157,917
At 31 March 2023 36,536

6. STOCKS
31/3/24 31/3/23
£    £   
Raw materials 63,913 69,441
Work-in-progress 216,870 257,199
280,783 326,640

The stock figure is stated after stock provisions of £51,043 (2023: £51,043).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 151,796 182,885
Amounts owed by group undertakings 589,752 476,264
Other debtors 8,732 129,640
750,280 788,789

Martin Woolman Limited (Registered number: 01035308)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 134,867 88,603
Taxation and social security 102,985 74,781
Other creditors 11,830 11,859
249,682 175,243

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Martin-Woolman Holdings Limited.

The ultimate controlling party is Ms L Gallafent by virtue of her shareholding in the above company.