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Registration number: 12568513

Martian Developments Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Martian Developments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Martian Developments Limited

(Registration number: 12568513)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Stocks

17,475

16,250

Debtors

5

16,167

15,430

Cash at bank and in hand

 

219,446

153,848

 

253,088

185,528

Creditors: Amounts falling due within one year

6

(229,007)

(177,276)

Net assets

 

24,081

8,252

Capital and reserves

 

Called up share capital

100

100

Retained earnings

23,981

8,152

Shareholders' funds

 

24,081

8,252

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

.........................................
Mr M P Ward
Director

 

Martian Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7D The Pompey Centre
Dickinson Road
Southsea
PO4 8ER
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Martian Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Improvements to leasehold property

straight line over 15 years

Fixtures, fittings and computer equipment

straight line over 10 years/straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Martian Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Improvements to leasehold property
£

Fixtures, fittings and computer equipment
 £

Total
£

Cost or valuation

At 1 August 2023

6,381

1,493

7,874

At 31 July 2024

6,381

1,493

7,874

Depreciation

At 1 August 2023

6,381

1,493

7,874

At 31 July 2024

6,381

1,493

7,874

Carrying amount

At 31 July 2024

-

-

-

At 31 July 2023

-

-

-

5

Debtors

2024
£

2023
£

Other debtors

16,167

15,430

Total current trade and other debtors

16,167

15,430

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

76,203

64,260

Amounts owed to group undertakings

-

15,000

Taxation and social security

12,298

8,086

Other creditors

140,506

89,930

229,007

177,276