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REGISTERED NUMBER: 06774990 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Market Square Group Limited

Market Square Group Limited (Registered number: 06774990)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Market Square Group Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P N J Kennedy
Mrs L A Kennedy





SECRETARY: P N J Kennedy





REGISTERED OFFICE: Greenhill House
First Floor East Wing
Thorpe Road
Peterborough
Cambridgeshire
PE3 6RU





REGISTERED NUMBER: 06774990 (England and Wales)





ACCOUNTANTS: Hills Accountants Limited
Greenhill House
First Floor East Wing
Thorpe Road
Peterborough
Cambridgeshire
PE3 6RU

Market Square Group Limited (Registered number: 06774990)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 182,348 178,661
182,348 178,661

CURRENT ASSETS
Debtors 6 200,511 71,434
Cash at bank 2,059 236,279
202,570 307,713
CREDITORS
Amounts falling due within one year 7 178,542 292,608
NET CURRENT ASSETS 24,028 15,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

206,376

193,766

CREDITORS
Amounts falling due after more than one
year

8

30,494

66,481
NET ASSETS 175,882 127,285

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 175,782 127,185
SHAREHOLDERS' FUNDS 175,882 127,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Market Square Group Limited (Registered number: 06774990)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





P N J Kennedy - Director


Market Square Group Limited (Registered number: 06774990)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Market Square Group 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Market Square Group Limited (Registered number: 06774990)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,600
AMORTISATION
At 1 April 2023
and 31 March 2024 2,600
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 803,593
Additions 59,370
At 31 March 2024 862,963
DEPRECIATION
At 1 April 2023 624,932
Charge for year 55,683
At 31 March 2024 680,615
NET BOOK VALUE
At 31 March 2024 182,348
At 31 March 2023 178,661

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 74,261 66,168
Directors' loan accounts 116,873 -
VAT 9,377 4,137
Prepayments and accrued income - 1,129
200,511 71,434

Market Square Group Limited (Registered number: 06774990)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 9) 22,659 27,334
Hire purchase contracts 43,054 14,093
Tax 27,496 20,947
Social security and other taxes - 605
Directors' loan accounts - 179,629
Accruals and deferred income 85,333 50,000
178,542 292,608

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 25,190 45,000
Hire purchase contracts 5,304 21,481
30,494 66,481

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,659 7,334
Bank loans 20,000 20,000
22,659 27,334

Amounts falling due between one and two years:
Bank loans - 1-2 years 25,190 45,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 127,185
Profit for the year 66,097
Dividends (17,500 )
At 31 March 2024 175,782