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Registered number: 05767125
Martin Morris Technical Services Ltd.
Unaudited Financial Statements
For The Year Ended 31 May 2024
Lloyd Richards Ltd
Eaton House Stoke Prior Lane
Leominster
Herefordshire
HR6 0NA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05767125
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,300 23,300
Tangible Assets 5 11,330 8,314
34,630 31,614
CURRENT ASSETS
Stocks 6 2,750 2,300
Debtors 7 15,816 12,121
Cash at bank and in hand 73,917 54,018
92,483 68,439
Creditors: Amounts Falling Due Within One Year 8 (51,372 ) (52,279 )
NET CURRENT ASSETS (LIABILITIES) 41,111 16,160
TOTAL ASSETS LESS CURRENT LIABILITIES 75,741 47,774
Creditors: Amounts Falling Due After More Than One Year 9 (13,498 ) (19,729 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,153 ) (2,202 )
NET ASSETS 60,090 25,843
CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Profit and Loss Account 55,090 20,843
SHAREHOLDERS' FUNDS 60,090 25,843
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Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martin Morris
Director
02/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Martin Morris Technical Services Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 05767125 . The registered office is Eaton House, Stoke Prior Lane, Leominster, HR6 0NA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts and adjusted if necessary for accrued or deferred income.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is fully amortised.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are licences to sell branded automotive products within specified areas. They are valued at the director's prudent view of their redeemable value.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% S/L
Motor Vehicles 20% S/L
Computer Equipment 33.33% S/L
2.6. Stocks and Work in Progress
Parts and goods for re­sale are valued at cost, making due provision for damaged or slow-moving stock. Work in progress is valued at labour and material costs only.
2.7. Taxation
Corporation Tax is calculated on the basis of the company's profit for the trading year adjusted for disallowed expenditure and capital allowances at the rates applicable to the years in which the profit arose.
Deferred tax is provided in the event of the net book value of assets exceeding their written down value for tax purposes at the rate of CT prevailing at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 1 1
1 1
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4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 June 2023 35,000 41,575 76,575
As at 31 May 2024 35,000 41,575 76,575
Amortisation
As at 1 June 2023 35,000 18,275 53,275
As at 31 May 2024 35,000 18,275 53,275
Net Book Value
As at 31 May 2024 - 23,300 23,300
As at 1 June 2023 - 23,300 23,300
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 40,268 29,184 1,423 70,875
Additions 7,291 - - 7,291
As at 31 May 2024 47,559 29,184 1,423 78,166
Depreciation
As at 1 June 2023 33,889 27,250 1,422 62,561
Provided during the period 4,097 178 - 4,275
As at 31 May 2024 37,986 27,428 1,422 66,836
Net Book Value
As at 31 May 2024 9,573 1,756 1 11,330
As at 1 June 2023 6,379 1,934 1 8,314
6. Stocks
2024 2023
£ £
Stock - Parts 1,000 800
Finished goods 1,500 1,000
Work in progress 250 500
2,750 2,300
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 14,447 8,596
Prepayments and accrued income 1,331 2,302
Recoverable VAT - 1,223
Recoverable tax and NICs 38 -
15,816 12,121
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 10,385 5,032
Corporation tax 7,379 5,564
VAT 2,276 -
Company Credit Card 2,424 966
Sundry Creditors 11,365 11,365
Accruals and deferred income 1,603 1,321
Director's loan account 15,940 28,031
51,372 52,279
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,498 19,729
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Martin Morris by virtue of his ownership of 100% of the issued share capital in the company.
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