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REGISTERED NUMBER: 06615796 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH JUNE 2024

FOR

R & A MARTIN LIMITED

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


R & A MARTIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







Director: A L Martin





Secretary: R Martin





Registered office: Rose Cottage
High Street
Littledean
Cinderford
Gloucestershire
GL14 3JY





Registered number: 06615796 (England and Wales)

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

BALANCE SHEET
30TH JUNE 2024

30.6.24 30.6.23
Notes £ £ £ £
Fixed assets
Tangible assets 4 19,087 24,631

Current assets
Stocks 5 315 36
Debtors 6 203,068 162,925
Cash at bank 2,679 2,944
206,062 165,905
Creditors
Amounts falling due within one year 7 89,608 98,106
Net current assets 116,454 67,799
Total assets less current liabilities 135,541 92,430

Creditors
Amounts falling due after more than one
year

8

(24,890

)

(34,475

)

Provisions for liabilities 11 (4,500 ) -
Net assets 106,151 57,955

Capital and reserves
Called up share capital 12 1,000 1,000
Retained earnings 105,151 56,955
Shareholders' funds 106,151 57,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

BALANCE SHEET - continued
30TH JUNE 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10th March 2025 and were signed by:





A L Martin - Director


R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024


1. Statutory information

R & A Martin 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.

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, all of which arises in the UK, represents net invoiced sales, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following rates on the straight line method in order
to write off each asset over its estimated useful life:

Plant & equipment25%
Motor vehicles20%
Office equipment20%

Stock & work in progress
Stock and work in progress has been valued by the director at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Work in progress is valued as a percentage of the final invoice value according to the level of completion. The value of work in progress is included within sales in the profit & loss account and within other debtors in the balance sheet.

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities.

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


2. Accounting policies - continued
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase & leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


3. Employees (including officers)

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Plant & Office Motor
equipment equipment vehicles Totals
£ £ £ £
Cost
At 1st July 2023 9,669 968 34,136 44,773
Additions 3,241 400 - 3,641
Disposals - (135 ) - (135 )
At 30th June 2024 12,910 1,233 34,136 48,279
Depreciation
At 1st July 2023 5,979 509 13,654 20,142
Charge for year 2,102 175 6,827 9,104
Eliminated on disposal - (54 ) - (54 )
At 30th June 2024 8,081 630 20,481 29,192
Net book value
At 30th June 2024 4,829 603 13,655 19,087
At 30th June 2023 3,690 459 20,482 24,631

The net book value of tangible fixed assets includes £ 13,655 (2023 - £ 20,482 ) in respect of assets held under hire purchase contracts.

5. Stocks
30.6.24 30.6.23
£ £
Stocks 315 36

6. Debtors: amounts falling due within one year
30.6.24 30.6.23
£ £
Trade debtors 26,730 2,301
Amounts owed by related parties 158,346 157,346
Other debtors & prepayments 13,630 3,278
Social security & other taxes 4,362 -
203,068 162,925

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


7. Creditors: amounts falling due within one year
30.6.24 30.6.23
£ £
Bank loans & overdrafts 24,420 25,575
Hire purchase contracts (see note 9) 5,993 5,993
Trade creditors 21,419 15,893
Amounts owed to related parties 9,752 8,366
Corporation tax 3,800 -
Social security & other taxes 800 4,014
Other creditors & accruals 7,141 6,711
Director's loan account 16,283 31,554
89,608 98,106

8. Creditors: amounts falling due after more than one year
30.6.24 30.6.23
£ £
Bank loans - two to five years 14,896 6,474
Bank loans more than five years by
instalments

2,504

14,518
Hire purchase contracts (see note 9) 7,490 13,483
24,890 34,475

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than five years by
instalments

2,504

14,518

9. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

30.6.24 30.6.23
£ £
Net obligations repayable:
Within one year 5,993 5,993
Between one and five years 7,490 13,483
13,483 19,476

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


10. Secured debts

The following secured debts are included within creditors:

30.6.24 30.6.23
£ £
Bank loans 20,948 24,540

The bounce bank loan of £20,948 is secured by the UK Government.

11. Provisions for liabilities
30.6.24 30.6.23
£ £
Deferred tax 4,500 -

Deferred tax
£
Accelerated capital allowances 4,500
Balance at 30th June 2024 4,500

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £ £
1,000 Ordinary £1 1,000 1,000

13. Contingent liabilities

There were no contingent liabilities at 30th June 2024.

14. Director's advances, credits and guarantees

During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £7,822 and repayments of £7,822 were made during the year. The balance at the year end was £16,283 owed by the company (2023: £31,554).

The loans and advances were made interest free and were repayable on demand.

R & A MARTIN LIMITED (REGISTERED NUMBER: 06615796)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024


15. Related party disclosures

Transactions with related parties

The following transactions with related parties took place, on normal commercial terms, during the year:


Loans /
(repayments

)
Debtor
balance
Creditor
balance
£   £   £   
Entities with common key management personnel(1,000)158,346-
Other related parties1,386-9,752