Company registration number SC555256 (Scotland)
MARTIN INVESTMENTS (ABERDEEN) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
MARTIN INVESTMENTS (ABERDEEN) LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
MARTIN INVESTMENTS (ABERDEEN) LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF MARTIN INVESTMENTS (ABERDEEN) LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Martin Investments (Aberdeen) Limited for the year ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.
This report is made solely to the board of directors of Martin Investments (Aberdeen) Limited, as a body, in accordance with the terms of our engagement letter dated 12 April 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Martin Investments (Aberdeen) Limited and state those matters that we have agreed to state to the board of directors of Martin Investments (Aberdeen) Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Martin Investments (Aberdeen) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Martin Investments (Aberdeen) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Martin Investments (Aberdeen) Limited. You consider that Martin Investments (Aberdeen) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Martin Investments (Aberdeen) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A.J.B. Scholes Ltd
Chartered Accountants
10 Albyn Place
Aberdeen
AB10 1YH
12 March 2025
MARTIN INVESTMENTS (ABERDEEN) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
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2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
74,160
74,160
Current assets
Cash at bank
6,241
6,254
Creditors: amounts falling due within one year
5
(3,090)
(3,391)
Net current assets
3,151
2,863
Net assets
77,311
77,023
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
77,211
76,923
Total equity
77,311
77,023
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 12 March 2025
Mr E Martin
Director
Company Registration No. SC555256
MARTIN INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
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1
Accounting policies
Company information
Martin Investments (Aberdeen) Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 Earns Heugh Circle, Cove Bay, Aberdeen, AB12 3PY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director is of the opinion that the company can continue to meet its obligations as they fall due for the foreseeable future. As a consequence, the director has prepared the financial statements on the going concern basis.
1.3
Turnover
Turnover comprises rent receivable and is credited to the Profit & Loss Account on an accruals basis.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments, bank and loans from related parties. Cash at bank in the balance sheet is held on demand. Loans from related parties are measured at the undiscounted amounts payable.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
MARTIN INVESTMENTS (ABERDEEN) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
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2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
4
Investment property
2025
£
Fair value
At 1 February 2024 and 31 January 2025
74,160
The market value of the investment property at 31 January 2025 is considered by the director to be the same as the cost price of the property.
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
185
527
Other creditors
2,905
2,864
3,090
3,391
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100