Registered number
09385880
Martin & McBride Limited
Unaudited Filleted Accounts
31 March 2024
Martin & McBride Limited
Registered number: 09385880
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 34,445 45,927
Current assets
Debtors 4 972,354 2,805,183
Investments held as current assets 5 1,218,745 -
Cash at bank and in hand 188,597 10,629
2,379,696 2,815,812
Creditors: amounts falling due within one year 6 (202,659) (580,727)
Net current assets 2,177,037 2,235,085
Total assets less current liabilities 2,211,482 2,281,012
Creditors: amounts falling due after more than one year 7 (17,730) (23,006)
Net assets 2,193,752 2,258,006
Capital and reserves
Called up share capital 2 2
Profit and loss account 2,193,750 2,258,004
Shareholders' funds 2,193,752 2,258,006
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Nicholas Martin
Director
Approved by the board on 19 November 2024
Martin & McBride Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 14
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 3,309 94,712 98,021
At 31 March 2024 3,309 94,712 98,021
Depreciation
At 1 April 2023 2,813 49,281 52,094
Charge for the year 124 11,358 11,482
At 31 March 2024 2,937 60,639 63,576
Net book value
At 31 March 2024 372 34,073 34,445
At 31 March 2023 496 45,431 45,927
4 Debtors 2024 2023
£ £
Trade debtors 223,262 135,994
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,000 5,000
Other debtors 744,092 2,664,189
972,354 2,805,183
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 1,218,745 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 101,478 -
Taxation and social security costs - 533,950
Other creditors 101,181 46,777
202,659 580,727
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 1
Obligations under finance lease and hire purchase contracts 17,730 23,005
17,730 23,006
8 Other information
Martin & McBride Limited is a private company limited by shares and incorporated in England. Its registered office is:
Beaufort House
113 Parson Street
Bristol
BS3 5QH
Martin & McBride Limited 09385880 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Nicholas Martin No description of principal activity 09385880 2022-04-01 2023-03-31 09385880 core:WithinOneYear 2023-03-31 09385880 core:AfterOneYear 2023-03-31 09385880 core:ShareCapital 2023-03-31 09385880 core:RetainedEarningsAccumulatedLosses 2023-03-31 09385880 2023-04-01 2024-03-31 09385880 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09385880 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09385880 bus:Director40 2023-04-01 2024-03-31 09385880 1 2023-04-01 2024-03-31 09385880 2 2023-04-01 2024-03-31 09385880 core:PlantMachinery 2023-04-01 2024-03-31 09385880 core:Vehicles 2023-04-01 2024-03-31 09385880 countries:England 2023-04-01 2024-03-31 09385880 bus:FRS102 2023-04-01 2024-03-31 09385880 bus:FilletedAccounts 2023-04-01 2024-03-31 09385880 2024-03-31 09385880 core:WithinOneYear 2024-03-31 09385880 core:AfterOneYear 2024-03-31 09385880 core:ShareCapital 2024-03-31 09385880 core:RetainedEarningsAccumulatedLosses 2024-03-31 09385880 core:PlantMachinery 2024-03-31 09385880 core:Vehicles 2024-03-31 09385880 2023-03-31 09385880 core:PlantMachinery 2023-03-31 09385880 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure