BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was that of property lettings. 23 September 2024 0 0 01670981 2023-12-31 01670981 2022-12-31 01670981 2021-12-31 01670981 2023-01-01 2023-12-31 01670981 2022-01-01 2022-12-31 01670981 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01670981 uk-curr:PoundSterling 2023-01-01 2023-12-31 01670981 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01670981 uk-bus:FullAccounts 2023-01-01 2023-12-31 01670981 uk-core:ShareCapital 2023-12-31 01670981 uk-core:ShareCapital 2022-12-31 01670981 uk-core:OtherReservesSubtotal 2023-12-31 01670981 uk-core:OtherReservesSubtotal 2022-12-31 01670981 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 01670981 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 01670981 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 01670981 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 01670981 uk-bus:FRS102 2023-01-01 2023-12-31 01670981 uk-core:PlantMachinery 2023-01-01 2023-12-31 01670981 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 01670981 uk-core:CurrentFinancialInstruments 2023-12-31 01670981 uk-core:CurrentFinancialInstruments 2022-12-31 01670981 uk-core:WithinOneYear 2023-12-31 01670981 uk-core:WithinOneYear 2022-12-31 01670981 uk-core:OtherMiscellaneousReserve 2022-12-31 01670981 uk-core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 01670981 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01670981 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01670981 uk-core:OtherDeferredTax 2023-12-31 01670981 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 01670981 uk-core:OtherMiscellaneousReserve 2023-12-31 01670981 2023-01-01 2023-12-31 01670981 uk-bus:Director1 2023-01-01 2023-12-31 01670981 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
Company Registration Number: 01670981
 
 
Martin Crannis Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023



Martin Crannis Limited
Company Registration Number: 01670981
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 1,403 1,723
Investment properties 6 400,000 570,000
───────── ─────────
Fixed Assets 401,403 571,723
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Current Assets
Debtors 7 2,566 1,383
Cash and cash equivalents 307,176 142,254
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309,742 143,637
───────── ─────────
Creditors: amounts falling due within one year 8 (39,179) (40,748)
───────── ─────────
Net Current Assets 270,563 102,889
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Total Assets less Current Liabilities 671,966 674,612
 
Provisions for liabilities 10 (23,516) (28,171)
───────── ─────────
Net Assets 648,450 646,441
═════════ ═════════
 
Capital and Reserves
Called up share capital 2,300 2,300
Other reserves 173,730 243,891
Retained earnings 472,420 400,250
───────── ─────────
Shareholders' Funds 648,450 646,441
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 23 September 2024 and signed on its behalf by
           
           
           
________________________________          
M J Crannis          
Director          
           



Martin Crannis Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Martin Crannis Limited is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office and 52 Gayton Road, King's Lynn, Norfolk, PE30 4EL, England is the principal place of business. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the value of rents receivable by the company.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 10% reducing balance
  Fixtures, fittings and equipment - 30% straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2022 - 4).
       
4. Dividends 2023 2022
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 12,200 12,200
  ═════════ ═════════
 
Since the balance sheet date dividends totalling £12,200 have been paid.
         
5. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost or Valuation
At 1 January 2023 8,084 1,621 9,705
  ───────── ───────── ─────────
 
At 31 December 2023 8,084 1,621 9,705
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 6,361 1,621 7,982
Charge for the financial year 320 - 320
  ───────── ───────── ─────────
At 31 December 2023 6,681 1,621 8,302
  ───────── ───────── ─────────
Net book value
At 31 December 2023 1,403 - 1,403
  ═════════ ═════════ ═════════
At 31 December 2022 1,723 - 1,723
  ═════════ ═════════ ═════════
     
6. Investment Properties
  Investment
  properties
 
  £
Fair value
At 1 January 2023 570,000
Disposals (193,000)
Revaluation 23,000
  ─────────
At 31 December 2023 400,000
  ─────────
 
The directors have valued the investment properties at the balance sheet date based on the sale prices of similar properties.
       
7. Debtors 2023 2022
  £ £
 
Trade debtors 656 -
Other debtors 1,383 1,383
Prepayments and accrued income 527 -
  ───────── ─────────
  2,566 1,383
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Shareholders loans 15,792 15,792
Trade creditors 130 -
Taxation  (Note 9) 7,988 10,873
Directors' current accounts 11,928 10,902
Accruals 3,341 3,181
  ───────── ─────────
  39,179 40,748
  ═════════ ═════════
       
9. Taxation 2023 2022
  £ £
 
Creditors:
Corporation tax 7,988 10,873
  ═════════ ═════════
           
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Property Total Total
  allowances revaluations    
         
      2023 2022
  £ £ £ £
 
At financial year start 327 27,844 28,171 37,024
Charged to profit and loss (61) (4,594) (4,655) (8,853)
  ───────── ───────── ───────── ─────────
At financial year end 266 23,250 23,516 28,171
  ═════════ ═════════ ═════════ ═════════
           
11. Related party transactions
 
Dividends amounting to £12,200 were paid to the directors during the year.
   
12. Controlling interest
 
The company is under the control of the directors.