Company Registration No. 06970031 (England and Wales)
Martyn Russell Property Services Limited
Unaudited accounts
for the year ended 31 March 2024
Martyn Russell Property Services Limited
Unaudited accounts
Contents
Martyn Russell Property Services Limited
Company Information
for the year ended 31 March 2024
Company Number
06970031 (England and Wales)
Registered Office
3 Church Road
Earley
Reading
RG6 1EY
Martyn Russell Property Services Limited
Statement of financial position
as at 31 March 2024
Tangible assets
5,879
6,472
Cash at bank and in hand
65,745
56,374
Creditors: amounts falling due within one year
(480,829)
(80,365)
Net current assets
109,626
137,962
Total assets less current liabilities
115,505
144,434
Creditors: amounts falling due after more than one year
(10,370)
(21,018)
Provisions for liabilities
Deferred tax
(1,117)
(1,230)
Net assets
104,018
122,186
Called up share capital
2
2
Profit and loss account
104,016
122,184
Shareholders' funds
104,018
122,186
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 March 2025 and were signed on its behalf by
Martyn Russell
Director
Company Registration No. 06970031
Martyn Russell Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Martyn Russell Property Services Limited is a private company, limited by shares, registered in England and Wales, registration number 06970031. The registered office is 3 Church Road, Earley, Reading, RG6 1EY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10 on Reducing balance
Computer equipment
1/3 on Cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Martyn Russell Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
15,408
1,655
17,063
At 31 March 2024
15,857
2,122
17,979
At 1 April 2023
9,673
918
10,591
Charge for the year
618
891
1,509
At 31 March 2024
10,291
1,809
12,100
At 31 March 2024
5,566
313
5,879
At 31 March 2023
5,735
737
6,472
Amounts falling due within one year
Trade debtors
41,608
44,985
Accrued income and prepayments
1,349
1,830
Other debtors
481,753
115,138
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,648
10,648
Trade creditors
6,053
10,987
Taxes and social security
43,619
20,338
Other creditors
479,002
115,808
Loans from directors
(59,141)
(78,276)
7
Creditors: amounts falling due after more than one year
2024
2023
Martyn Russell Property Services Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
78,276
38,810
57,945
59,141
78,276
38,810
57,945
59,141
The directors loan is repayable on demand and interest is charged at the official rate of interest set by HMRC. The maximum outstanding during the year was £78,546
9
Average number of employees
During the year the average number of employees was 7 (2023: 6).