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Company No: 03503805 (England and Wales)

MARTIN ENVIRONMENTAL SERVICES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

MARTIN ENVIRONMENTAL SERVICES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

MARTIN ENVIRONMENTAL SERVICES LIMITED

BALANCE SHEET

As at 30 September 2024
MARTIN ENVIRONMENTAL SERVICES LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Fixed assets
Tangible assets 4 191,964 297,279
191,964 297,279
Current assets
Stocks 5 243,081 530,468
Debtors 6 485,286 768,159
Cash at bank and in hand 7 341,100 355,023
1,069,467 1,653,650
Creditors: amounts falling due within one year 8 ( 749,951) ( 1,171,830)
Net current assets 319,516 481,820
Total assets less current liabilities 511,480 779,099
Creditors: amounts falling due after more than one year 9 ( 72,734) ( 102,790)
Net assets 438,746 676,309
Capital and reserves
Called-up share capital 3 3
Profit and loss account 438,743 676,306
Total shareholder's funds 438,746 676,309

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Martin Environmental Services Limited (registered number: 03503805) were approved and authorised for issue by the Board of Directors on 26 June 2025. They were signed on its behalf by:

A S Martin
Director
MARTIN ENVIRONMENTAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
MARTIN ENVIRONMENTAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Martin Environmental Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 1 Forward Way, Laker Road, Rochester, ME1 3QX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

The company also recognise 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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 4 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
30.09.2024
Period from
01.05.2022 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 44 51

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 33,000 33,000
At 30 September 2024 33,000 33,000
Accumulated amortisation
At 01 October 2023 33,000 33,000
At 30 September 2024 33,000 33,000
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 October 2023 42,421 30,849 249,494 61,248 53,478 437,490
Disposals 0 0 ( 17,749) 0 0 ( 17,749)
At 30 September 2024 42,421 30,849 231,745 61,248 53,478 419,741
Accumulated depreciation
At 01 October 2023 10,252 13,282 41,290 35,432 39,955 140,211
Charge for the financial year 4,242 6,265 62,001 15,312 8,990 96,810
Disposals 0 0 ( 9,244) 0 0 ( 9,244)
At 30 September 2024 14,494 19,547 94,047 50,744 48,945 227,777
Net book value
At 30 September 2024 27,927 11,302 137,698 10,504 4,533 191,964
At 30 September 2023 32,169 17,567 208,204 25,816 13,523 297,279

5. Stocks

30.09.2024 30.09.2023
£ £
Work in progress 243,081 530,468

6. Debtors

30.09.2024 30.09.2023
£ £
Trade debtors 259,240 600,951
Amounts owed by Parent undertakings 57,181 57,181
Other debtors 168,865 110,027
485,286 768,159

7. Cash and cash equivalents

30.09.2024 30.09.2023
£ £
Cash at bank and in hand 341,100 355,023

8. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 339,530 680,704
Other taxation and social security 70,671 134,746
Obligations under finance leases and hire purchase contracts (secured) 30,057 30,056
Other creditors 309,693 326,324
749,951 1,171,830

Hire purchase balances are secured on the assets financed.

9. Creditors: amounts falling due after more than one year

30.09.2024 30.09.2023
£ £
Obligations under finance leases and hire purchase contracts 72,734 102,790

Hire purchase balances are secured on the assets financed.

10. Related party transactions

Transactions with the entity's directors

30.09.2024 30.09.2023
£ £
Amounts owed to directors 90,715 0

The company has taken advantage of the exemption in FRS 102 1A from disclosing transactions with other members of the group.