Registered number
08414795
Martins Builders & Decorators Limited
Filleted Accounts
29 February 2024
Martins Builders & Decorators Limited
Registered number: 08414795
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,874 32,072
Current assets
Stocks 18,048 82,048
Debtors 4 263,898 167,681
Cash at bank and in hand 60,766 116,916
342,712 366,645
Creditors: amounts falling due within one year 5 (305,161) (344,931)
Net current assets 37,551 21,714
Total assets less current liabilities 60,425 53,786
Creditors: amounts falling due after more than one year 6 (21,675) (31,248)
Net assets 38,750 22,538
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,650 22,438
Shareholders' funds 38,750 22,538
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.
Antonio Martinho Dos Santos Faria
Director
Approved by the board on 24 February 2025
Martins Builders & Decorators Limited
Notes to the Accounts
for the year ended 29 February 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 rendering of services. 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.
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:
Plant and machinery 20% Straight line
Fixtures, fittings, tools and equipment 20% Straight line and 33.33% Straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 55,356 81,622 136,978
At 29 February 2024 55,356 81,622 136,978
Depreciation
At 1 March 2023 45,218 59,688 104,906
Charge for the year 2,549 6,649 9,198
At 29 February 2024 47,767 66,337 114,104
Net book value
At 29 February 2024 7,589 15,285 22,874
At 28 February 2023 10,138 21,934 32,072
4 Debtors 2024 2023
£ £
Trade debtors 131,217 1
Other debtors 132,681 167,680
263,898 167,681
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,645 9,573
Trade creditors 197,342 188,644
Sales Ledger Credit Balances - 90,012
Corporation tax 4,232 7,357
B&M Property Investment Company - 28
Other taxes and social security costs 71,298 16,133
Pension control 483 225
Other creditors 22,161 32,959
305,161 344,931
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,675 31,248
7 Other information
Martins Builders & Decorators Limited is a private company limited by shares and incorporated in England. Its registered office is:
237 Gipsy Road
London
SE27 9QY
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