G Martin Windows Limited 09479319 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is selling and installation of windows, doors and conservatories Digita Accounts Production Advanced 6.30.9574.0 true 09479319 2023-04-01 2024-03-31 09479319 2024-03-31 09479319 bus:Director2 1 2024-03-31 09479319 bus:OrdinaryShareClass1 2024-03-31 09479319 bus:OrdinaryShareClass2 2024-03-31 09479319 core:RetainedEarningsAccumulatedLosses 2024-03-31 09479319 core:ShareCapital 2024-03-31 09479319 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09479319 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09479319 core:FurnitureFittingsToolsEquipment 2024-03-31 09479319 core:MotorVehicles 2024-03-31 09479319 core:OtherPropertyPlantEquipment 2024-03-31 09479319 bus:SmallEntities 2023-04-01 2024-03-31 09479319 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09479319 bus:FilletedAccounts 2023-04-01 2024-03-31 09479319 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09479319 bus:RegisteredOffice 2023-04-01 2024-03-31 09479319 bus:Director1 2023-04-01 2024-03-31 09479319 bus:Director2 2023-04-01 2024-03-31 09479319 bus:Director2 1 2023-04-01 2024-03-31 09479319 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09479319 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 09479319 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09479319 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09479319 core:MotorVehicles 2023-04-01 2024-03-31 09479319 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09479319 core:PlantMachinery 2023-04-01 2024-03-31 09479319 countries:EnglandWales 2023-04-01 2024-03-31 09479319 2023-03-31 09479319 bus:Director2 1 2023-03-31 09479319 core:FurnitureFittingsToolsEquipment 2023-03-31 09479319 core:MotorVehicles 2023-03-31 09479319 core:OtherPropertyPlantEquipment 2023-03-31 09479319 2022-04-01 2023-03-31 09479319 2023-03-31 09479319 bus:Director2 1 2023-03-31 09479319 bus:OrdinaryShareClass1 2023-03-31 09479319 bus:OrdinaryShareClass2 2023-03-31 09479319 core:RetainedEarningsAccumulatedLosses 2023-03-31 09479319 core:ShareCapital 2023-03-31 09479319 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09479319 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09479319 core:FurnitureFittingsToolsEquipment 2023-03-31 09479319 core:MotorVehicles 2023-03-31 09479319 core:OtherPropertyPlantEquipment 2023-03-31 09479319 bus:Director2 1 2022-04-01 2023-03-31 09479319 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09479319

G Martin Windows Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

G Martin Windows Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

G Martin Windows Limited

(Registration number: 09479319)
Abridged Balance Sheet as at 31 March 2024

Note

2024

2023

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

40,166

 

52,916

Current assets

   

 

Stocks

5

19,300

 

19,544

 

Debtors

25,758

 

20,001

 

Cash at bank and in hand

 

44,832

 

44,979

 

 

89,890

 

84,524

 

Prepayments and accrued income

 

1,356

 

967

 

Creditors: Amounts falling due within one year

6.1

(59,472)

 

(52,560)

 

Net current assets

   

31,774

 

32,931

Total assets less current liabilities

   

71,940

 

85,847

Creditors: Amounts falling due after more than one year

6.2

 

(32,009)

 

(39,364)

Provisions for liabilities

 

(7,632)

 

(10,549)

Accruals and deferred income

   

(3,180)

 

(1,425)

Net assets

   

29,119

 

34,509

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Profit and loss account

29,019

 

34,409

 

Shareholders' funds

   

29,119

 

34,509

 

G Martin Windows Limited

(Registration number: 09479319)
Abridged Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Mrs G Martin
Director

.........................................
Mr G J Martin
Director

 
     
 

G Martin Windows Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Grove
Rax Lane
Bridport
Dorset
DT6 3JL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Contract revenue recognition

Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

G Martin Windows Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Office equipment

33% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

G Martin Windows Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a reducing balance basis over the useful life of the asset. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

G Martin Windows Limited

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

4

Tangible assets

Office Equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

877

72,565

3,617

77,059

Additions

-

-

542

542

Disposals

(166)

-

-

(166)

At 31 March 2024

711

72,565

4,159

77,435

Depreciation

At 1 April 2023

689

21,687

1,768

24,144

Charge for the year

39

12,720

462

13,221

Eliminated on disposal

(96)

-

-

(96)

At 31 March 2024

632

34,407

2,230

37,269

Carrying amount

At 31 March 2024

79

38,158

1,929

40,166

At 31 March 2023

188

50,879

1,849

52,916

5

Stocks

2024
£

2023
£

Work in progress

19,000

10,044

Other inventories

300

9,500

19,300

19,544

6

Creditors

Creditors: amounts falling due within one year

Creditors include net obligations under hire purchase contracts which are secured of £3,755 (2022 - £3,336).

Creditors: amounts falling due after more than one year

Creditors include net obligations under hire purchase contracts which are secured of £27,809 (2022 - £31,564).

 

G Martin Windows Limited

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

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary shares of £1 each

60

60

60

60

B Ordinary shares of £1 each

40

40

40

40

100

100

100

100

8

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr G J Martin

Overdrawn directors loan account

(5,597)

(32,986)

21,432

(17,151)

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mr G J Martin

Overdrawn directors loan account

1,124

(6,721)

(5,597)