REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
MARTIN HAMMETT ASSOCIATES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
MARTIN HAMMETT ASSOCIATES LIMITED |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Other reserves | 11 | ( |
) |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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. |
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 |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Martin Hammett Associates Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents commissions and fees receivable. |
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 and contracts for on-going services is recognised by reference to the stage of completion. |
Amortisation |
Amortisation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows: |
Goodwill - 10 % straight line |
Goodwill is now fully amortised. |
Depreciation |
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of the asset as follows: |
Fixtures, fittings and equipment - 10% and 33% reducing balance |
Work in progress |
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Operating lease agreements |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Pension costs |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Other investments | - | 112,333 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
PAYE and NIC |
Directors' loan accounts | 261 | 261 |
Accruals and deferred income |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
MARTIN HAMMETT ASSOCIATES LIMITED (REGISTERED NUMBER: 04844872) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | FINANCIAL INSTRUMENTS |
2024 | 2023 |
£ | £ |
Carrying amount of financial assets |
Instruments measured at fair value | - | 112,333 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary 'A' | £1 | 51 | 51 |
Ordinary 'B' | £1 | 29 | 29 |
Ordinary 'C' | £1 | 20 | 20 |
100 | 100 |
11. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 April 2023 | ( |
) | 147,035 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Transfer | (1,163 | ) | 1,163 | - |
At 31 March 2024 | 127,060 |
12. | FAIR VALUE GAINS |
2024 | 2023 |
£ | £ |
Fair value gains |
Change in value of financial assets held at fair value through profit and loss |
1,163 |
(3,992 |
) |