Registered number
08792836
Downham Market Management Limited
Filleted Accounts
31 March 2025
Downham Market Management Limited
Registered number: 08792836
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 4,488 4,878
Investments 4 1,838 1,838
6,326 6,716
Current assets
Stocks 400 350
Debtors 5 42,686 59,341
Cash at bank and in hand 15,668 4,048
58,754 63,739
Creditors: amounts falling due within one year 6 (57,071) (59,856)
Net current assets 1,683 3,883
Total assets less current liabilities 8,009 10,599
Creditors: amounts falling due after more than one year 7 (3,339) (8,350)
Provisions for liabilities (853) (927)
Net assets 3,817 1,322
Capital and reserves
Called up share capital 156 156
Revaluation reserve 8 (1,509) (1,509)
Profit and loss account 5,170 2,675
Shareholders' funds 3,817 1,322
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Rawlinson
Director
Approved by the board on 23 May 2025
Downham Market Management Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3-10 years
Fixtures, fittings, tools and equipment over 3-10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 13,541
Additions 2,056
At 31 March 2025 15,597
Depreciation
At 1 April 2024 8,663
Charge for the year 2,446
At 31 March 2025 11,109
Net book value
At 31 March 2025 4,488
At 31 March 2024 4,878
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2024 1,838
At 31 March 2025 1,838
5 Debtors 2025 2024
£ £
Trade debtors 39,554 58,045
Amounts owed by group undertakings and undertakings in which the company has a participating interest 2,069 799
Other debtors 1,063 497
42,686 59,341
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 5,012 5,012
Trade creditors 62 117
Taxation and social security costs 6,844 9,218
Other creditors 45,153 45,509
57,071 59,856
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 3,339 8,350
8 Revaluation reserve 2025 2024
£ £
At 1 April 2024 (1,509) (1,509)
At 31 March 2025 (1,509) (1,509)
9 Related party transactions
All sales are to associated companies for services at cost plus markup.
10 Controlling party
The company is controlled by the director M Rawlinson.
11 Other information
Downham Market Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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