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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
Page
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Martyn Russell Property Services Limited Company Information for the year ended 31 March 2024
Director
Martyn Russell
Company Number
06970031 (England and Wales)
Registered Office
3 Church Road Earley Reading RG6 1EY
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Martyn Russell Property Services Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,879 
6,472 
Current assets
Debtors
524,710 
161,953 
Cash at bank and in hand
65,745 
56,374 
590,455 
218,327 
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 
Capital and reserves
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
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Martyn Russell Property Services Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
Leased assets
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.
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Martyn Russell Property Services Limited Notes to the Accounts for the year ended 31 March 2024
Pension costs
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.
Financial instruments
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 
Additions
449 
467 
916 
At 31 March 2024
15,857 
2,122 
17,979 
Depreciation
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 
Net book value
At 31 March 2024
5,566 
313 
5,879 
At 31 March 2023
5,735 
737 
6,472 
5
Debtors
2024 
2023 
£ 
£ 
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 
524,710 
161,953 
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)
Accruals
648 
860 
480,829 
80,365 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
10,370 
21,018 
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Martyn Russell Property Services Limited Notes to the Accounts for the year ended 31 March 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Martyn Russell
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).
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