Martingate Developments Limited 14677384 false 2023-02-20 2024-04-30 2024-04-30 The principal activity of the company is Development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true 14677384 2023-02-20 2024-04-30 14677384 2024-04-30 14677384 core:RetainedEarningsAccumulatedLosses 2024-04-30 14677384 core:ShareCapital 2024-04-30 14677384 core:CurrentFinancialInstruments 2024-04-30 14677384 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 14677384 bus:SmallEntities 2023-02-20 2024-04-30 14677384 bus:AuditExemptWithAccountantsReport 2023-02-20 2024-04-30 14677384 bus:FullAccounts 2023-02-20 2024-04-30 14677384 bus:SmallCompaniesRegimeForAccounts 2023-02-20 2024-04-30 14677384 bus:RegisteredOffice 2023-02-20 2024-04-30 14677384 bus:Director1 2023-02-20 2024-04-30 14677384 bus:Director2 2023-02-20 2024-04-30 14677384 bus:Director3 2023-02-20 2024-04-30 14677384 bus:Director4 2023-02-20 2024-04-30 14677384 bus:PrivateLimitedCompanyLtd 2023-02-20 2024-04-30 14677384 countries:AllCountries 2023-02-20 2024-04-30 iso4217:GBP xbrli:pure

Registration number: 14677384

Martingate Developments Limited

Filleted Unaudited Financial Statements

for the Period from 20 February 2023 to 30 April 2024

 

Martingate Developments Limited
(Registration number: 14677384)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 4

 

Martingate Developments Limited
(Registration number: 14677384)

Company Information

Directors

S Marsh

K N Rothwell

M Marsh

R Marsh

Registered office

3 Hennock Court
Hennock Road
Exeter
Devon
EX2 8RU

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Martingate Developments Limited
(Registration number: 14677384)

Balance Sheet as at 30 April 2024

Note

2024
£

Current assets

 

Stocks

4

139,900

Debtors

5

537

 

140,437

Creditors: Amounts falling due within one year

6

(146,228)

Net liabilities

 

(5,791)

Capital and reserves

 

Called up share capital

100

Profit and loss account

(5,891)

Total equity

 

(5,791)

For the financial period ending 30 April 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
S Marsh
Director

 

Martingate Developments Limited
(Registration number: 14677384)

Notes to the Unaudited Financial Statements for the Period from 20 February 2023 to 30 April 2024

1

General information

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

The address of its registered office is:
3 Hennock Court
Hennock Road
Exeter
Devon
EX2 8RU

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 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 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.

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.

 

Martingate Developments Limited
(Registration number: 14677384)

Notes to the Unaudited Financial Statements for the Period from 20 February 2023 to 30 April 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Stocks

2024
£

Other stocks

139,900

5

Debtors

2024
£

Prepayments and accrued income

537

Total current trade and other debtors

537

6

Creditors

2024
£

Due within one year

Other creditors

145,028

Accrued expenses

1,200

146,228