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Company Registration No. 06242312 (England and Wales)
Market Landing Limited Unaudited accounts for the year ended 31 March 2024
Market Landing Limited Unaudited accounts Contents
Page
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Market Landing Limited Company Information for the year ended 31 March 2024
Directors
Arabella Pritchard-Barrett James Pritchard-Barrett
Secretary
Arabella Pritchard-Barrett
Company Number
06242312 (England and Wales)
Registered Office
Office 2 & 3 Chene Court Poundwell Street Modbury, Ivybridge Devon PL21 0QJ England
Accountants
Swift Accounting Lower Barton Lamerton Tavistock Devon PL19 8RR
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Market Landing Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,908 
4,047 
Current assets
Inventories
5,318 
7,231 
Debtors
19,870 
16,940 
Cash at bank and in hand
164 
8 
25,352 
24,179 
Creditors: amounts falling due within one year
(40,226)
(36,789)
Net current liabilities
(14,874)
(12,610)
Total assets less current liabilities
(12,966)
(8,563)
Creditors: amounts falling due after more than one year
(11,083)
(18,083)
Net liabilities
(24,049)
(26,646)
Capital and reserves
Called up share capital
102 
102 
Profit and loss account
(24,151)
(26,748)
Shareholders' funds
(24,049)
(26,646)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by
James Pritchard-Barrett Director Company Registration No. 06242312
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Market Landing Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Market Landing Limited is a private company, limited by shares, registered in England and Wales, registration number 06242312. The registered office is Office 2 & 3 Chene Court, Poundwell Street, Modbury, Ivybridge, Devon, PL21 0QJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line
Motor vehicles
4 years straight line
Computer equipment
4 years straight line
Going concern
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.
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Market Landing Limited Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Classification The company holds the following financial instruments: - Short term trade and other debtors and creditors - Cash and bank balances All financial instruments are classified as basic. Recognition and measurement The company has chosen to apply the recognition and measurement principles in FRS102. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
2,000 
20,589 
30,966 
53,555 
At 31 March 2024
2,000 
20,589 
30,966 
53,555 
Depreciation
At 1 April 2023
2,000 
20,589 
26,919 
49,508 
Charge for the year
- 
- 
2,139 
2,139 
At 31 March 2024
2,000 
20,589 
29,058 
51,647 
Net book value
At 31 March 2024
- 
- 
1,908 
1,908 
At 31 March 2023
- 
- 
4,047 
4,047 
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Market Landing Limited Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
15,874 
15,689 
Deferred tax asset
788 
Other debtors
3,996 
463 
19,870 
16,940 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,000 
7,623 
VAT
2,673 
3,799 
Trade creditors
12,079 
10,534 
Taxes and social security
644 
- 
Other creditors
- 
3,668 
Loans from directors
15,977 
9,315 
Accruals
1,853 
1,850 
40,226 
36,789 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
11,083 
18,083 
8
Transactions with related parties
The company owed the directors £15,977 (2023 - £9,315) at the year end. There are no set repayment terms.
9
Average number of employees
During the year the average number of employees was 6 (2023: 7).
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