Registered number
05938903
Martin Grimes Technology Solutions Ltd
Filleted Accounts
30 September 2024
Martin Grimes Technology Solutions Ltd
Registered number: 05938903
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,399 284
Current assets
Stocks 1,750 1,750
Debtors 4 108,268 104,963
Cash at bank and in hand 78,924 43,787
188,942 150,500
Creditors: amounts falling due within one year 5 (112,682) (91,103)
Net current assets 76,260 59,397
Total assets less current liabilities 82,659 59,681
Creditors: amounts falling due after more than one year 6 (12,670) (18,691)
Net assets 69,989 40,990
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 39,619 25,683
Profit and loss account 30,270 15,207
Shareholder's funds 69,989 40,990
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 member has 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.
Martin Grimes
Director
Approved by the board on 13 June 2025
Martin Grimes Technology Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2024
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 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.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 4,369 47,899 52,268
Additions - 8,248 8,248
At 30 September 2024 4,369 56,147 60,516
Depreciation
At 1 October 2023 4,085 47,899 51,984
Charge for the year 71 2,062 2,133
At 30 September 2024 4,156 49,961 54,117
Net book value
At 30 September 2024 213 6,186 6,399
At 30 September 2023 284 - 284
4 Debtors 2024 2023
£ £
Other debtors 108,268 104,963
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,667 6,667
Obligations under finance lease and hire purchase contracts 2,949 -
Taxation and social security costs 99,917 81,285
Other creditors 3,149 3,151
112,682 91,103
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,424 18,691
Obligations under finance lease and hire purchase contracts 246 -
12,670 18,691
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 25,683 95,515
Gain/(loss) on revaluation of land and buildings 13,936 (69,832)
At 30 September 2024 39,619 25,683
8 Other information
Martin Grimes Technology Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16, Holme Mills
Britannia Road
Huddersfield
West Yorkshire
HD3 4QF
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