2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,000 6,000 3,000 9,000 6,000 9,000 xbrli:pure xbrli:shares iso4217:GBP 13336281 2023-05-01 2024-04-30 13336281 2024-04-30 13336281 2023-04-30 13336281 2022-05-01 2023-04-30 13336281 2023-04-30 13336281 2022-04-30 13336281 core:NetGoodwill 2023-05-01 2024-04-30 13336281 core:PlantMachinery 2023-05-01 2024-04-30 13336281 core:FurnitureFittings 2023-05-01 2024-04-30 13336281 core:MotorVehicles 2023-05-01 2024-04-30 13336281 bus:Director1 2023-05-01 2024-04-30 13336281 core:NetGoodwill 2023-04-30 13336281 core:NetGoodwill 2024-04-30 13336281 core:PlantMachinery 2023-04-30 13336281 core:FurnitureFittings 2023-04-30 13336281 core:MotorVehicles 2023-04-30 13336281 core:PlantMachinery 2024-04-30 13336281 core:FurnitureFittings 2024-04-30 13336281 core:MotorVehicles 2024-04-30 13336281 core:WithinOneYear 2024-04-30 13336281 core:WithinOneYear 2023-04-30 13336281 core:ShareCapital 2024-04-30 13336281 core:ShareCapital 2023-04-30 13336281 core:RetainedEarningsAccumulatedLosses 2024-04-30 13336281 core:RetainedEarningsAccumulatedLosses 2023-04-30 13336281 core:NetGoodwill 2023-04-30 13336281 core:PlantMachinery 2023-04-30 13336281 core:FurnitureFittings 2023-04-30 13336281 core:MotorVehicles 2023-04-30 13336281 bus:Director1 2023-04-30 13336281 bus:Director1 2024-04-30 13336281 bus:Director1 2022-04-30 13336281 bus:Director1 2023-04-30 13336281 bus:Director1 2022-05-01 2023-04-30 13336281 bus:SmallEntities 2023-05-01 2024-04-30 13336281 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13336281 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13336281 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13336281 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 13336281
Martin Doherty Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Martin Doherty Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
6,000
9,000
Tangible assets
6
9,123
9,347
--------
--------
15,123
18,347
Current assets
Stocks
4,504
3,682
Debtors
7
1,349
473
Cash at bank and in hand
16,257
15,591
--------
--------
22,110
19,746
Creditors: amounts falling due within one year
8
25,216
30,665
--------
--------
Net current liabilities
3,106
10,919
--------
--------
Total assets less current liabilities
12,017
7,428
--------
-------
Net assets
12,017
7,428
--------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
11,917
7,328
--------
-------
Shareholders funds
12,017
7,428
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Martin Doherty Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 10 January 2025 , and are signed on behalf of the board by:
Mr M Doherty
Director
Company registration number: 13336281
Martin Doherty Limited
Notes to the Financial Statements
Year ended 30th April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vehicle Services, 44/45 Stella Gill Industrial Estate, Pelton Fell, Chester le Street, Co Durham, DH2 2RH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax that the company is expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
10% straight line
Fixtures and fittings
-
30% straight line
Motor vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1st May 2023 and 30th April 2024
15,000
--------
Amortisation
At 1st May 2023
6,000
Charge for the year
3,000
--------
At 30th April 2024
9,000
--------
Carrying amount
At 30th April 2024
6,000
--------
At 30th April 2023
9,000
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1st May 2023
10,196
516
650
11,362
Additions
997
232
1,229
--------
----
----
--------
At 30th April 2024
11,193
748
650
12,591
--------
----
----
--------
Depreciation
At 1st May 2023
1,522
330
163
2,015
Charge for the year
1,103
220
130
1,453
--------
----
----
--------
At 30th April 2024
2,625
550
293
3,468
--------
----
----
--------
Carrying amount
At 30th April 2024
8,568
198
357
9,123
--------
----
----
--------
At 30th April 2023
8,674
186
487
9,347
--------
----
----
--------
7. Debtors
2024
2023
£
£
Trade debtors
873
Other debtors
476
473
-------
----
1,349
473
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,918
4,203
Corporation tax
5,163
3,993
Social security and other taxes
3,272
2,345
Other creditors
11,863
20,124
--------
--------
25,216
30,665
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr M Doherty
( 15,902)
7,614
( 8,288)
--------
-------
-------
2023
Balance brought forward
Amounts repaid
Balance outstanding
£
£
£
Mr M Doherty
( 21,888)
5,986
( 15,902)
--------
-------
--------