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REGISTERED NUMBER: 13032102 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2022 TO 31 OCTOBER 2023

FOR

MARTELLO FINANCIAL SERVICES HOLDINGS LTD

MARTELLO FINANCIAL SERVICES HOLDINGS LTD (REGISTERED NUMBER: 13032102)

CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 December 2022 to 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MARTELLO FINANCIAL SERVICES HOLDINGS LTD

COMPANY INFORMATION
for the period 1 December 2022 to 31 October 2023







DIRECTORS: R W Moore
J R Garvey
M Gleave
R Henderson
A Boyes





REGISTERED OFFICE: 7 Bell Yard
London
United Kingdom
WC2A 2JR





REGISTERED NUMBER: 13032102 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

MARTELLO FINANCIAL SERVICES HOLDINGS LTD (REGISTERED NUMBER: 13032102)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 142,141 142,138

CURRENT ASSETS
Debtors 5 356,489 357,862
Cash at bank and in hand 1,436 100
357,925 357,962
CREDITORS
Amounts falling due within one year 6 (501,200 ) (501,200 )
NET CURRENT LIABILITIES (143,275 ) (143,238 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,134

)

(1,100

)

CAPITAL AND RESERVES
Called up share capital 7 66 100
Retained earnings (1,200 ) (1,200 )
SHAREHOLDERS' FUNDS (1,134 ) (1,100 )

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





A Boyes - Director


MARTELLO FINANCIAL SERVICES HOLDINGS LTD (REGISTERED NUMBER: 13032102)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 December 2022 to 31 October 2023


1. STATUTORY INFORMATION

Martello Financial Services Holdings Ltd is a limited company, limited by shares, registered in England and Wales. Its registered office address is 7 Bell Yard, London, WC2A 2JR and the registered number is 13032102.

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.

The financial statements are presented in Sterling (£) and are rounded to the nearest £1.

Preparation of consolidated financial statements
The company and its subsidiary form a small group. The company is therefore not required to produce consolidated financial statements and has not done so. These financial statements present information about the company as a single entity.

Going concern
At 31st October the company had net current liabilities of £143,275 (2022: £143,238) and net liabilities of £1,134 (2022: £1,100). The directors have prepared the financial statements on a going concern basis as they have confirmed that they will continue to support the company for at least the next 12 months and will not request the repayment of their directors loan accounts until the company has sufficient funds to do so.

Investments in subsidiaries
Investment in the subsidiary company is held at cost less accumulated impairment losses.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

MARTELLO FINANCIAL SERVICES HOLDINGS LTD (REGISTERED NUMBER: 13032102)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 December 2022 to 31 October 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 6 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022 142,138
Additions 3
At 31 October 2023 142,141
NET BOOK VALUE
At 31 October 2023 142,141
At 30 November 2022 142,138

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 356,489 357,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 501,200 501,200

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary 0.01 100 100

During the year the company repurchased 3,446 ordinary shares, for a total consideration of £48,947. The total number of ordinary shares at the year end is 6,554.

8. 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.