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REGISTERED NUMBER: 07951304 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

Martin Lawless Limited

Martin Lawless Limited (Registered number: 07951304)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Martin Lawless Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: M Lawless
G D Lawless





REGISTERED OFFICE: 70 Market Street
Tottington
Bury
BL8 3LJ





REGISTERED NUMBER: 07951304 (England and Wales)





ACCOUNTANTS: Anthony Marshall Ltd
Chartered Accountants
70 Market Street
Tottington
Bury
Greater Manchester
BL8 3LJ

Martin Lawless Limited (Registered number: 07951304)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,444 2,051

CURRENT ASSETS
Stocks 14,850 20,718
Debtors 5 77,420 56,038
Cash at bank 749,069 856,151
841,339 932,907
CREDITORS
Amounts falling due within one year 6 48,698 97,628
NET CURRENT ASSETS 792,641 835,279
TOTAL ASSETS LESS CURRENT LIABILITIES 797,085 837,330

PROVISIONS FOR LIABILITIES 1,006 390
NET ASSETS 796,079 836,940

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 796,077 836,938
796,079 836,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Martin Lawless Limited (Registered number: 07951304)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





M Lawless - Director


Martin Lawless Limited (Registered number: 07951304)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Martin Lawless Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 25% reducing balance
Computer equipment - straight line over 3 years

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Martin Lawless Limited (Registered number: 07951304)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 March 2023 6,179 3,285 9,464
Additions - 3,540 3,540
At 29 February 2024 6,179 6,825 13,004
DEPRECIATION
At 1 March 2023 5,752 1,661 7,413
Charge for year 107 1,040 1,147
At 29 February 2024 5,859 2,701 8,560
NET BOOK VALUE
At 29 February 2024 320 4,124 4,444
At 28 February 2023 427 1,624 2,051

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 77,420 56,038

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 42,986 94,221
Other creditors 5,712 3,407
48,698 97,628

Martin Lawless Limited (Registered number: 07951304)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Lawless and Mrs G D Lawless by virtue of their directorship and shareholdings.