10 01/10/2023 30/09/2024 2024-09-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-10-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05555048 2023-10-01 2024-09-30 05555048 2024-09-30 05555048 2023-09-30 05555048 2022-10-01 2023-09-30 05555048 2023-09-30 05555048 2022-09-30 05555048 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 05555048 core:OnerousContractsExcludingVacantProperties 2023-10-01 2024-09-30 05555048 bus:Director1 2023-10-01 2024-09-30 05555048 core:NetGoodwill 2024-09-30 05555048 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 05555048 core:FurnitureFittingsToolsEquipment 2023-09-30 05555048 core:LandBuildings core:ShortLeaseholdAssets 2024-09-30 05555048 core:FurnitureFittingsToolsEquipment 2024-09-30 05555048 core:WithinOneYear 2024-09-30 05555048 core:WithinOneYear 2023-09-30 05555048 core:ShareCapital 2024-09-30 05555048 core:ShareCapital 2023-09-30 05555048 core:RevaluationReserve 2024-09-30 05555048 core:RevaluationReserve 2023-09-30 05555048 core:RetainedEarningsAccumulatedLosses 2024-09-30 05555048 core:RetainedEarningsAccumulatedLosses 2023-09-30 05555048 core:NetGoodwill 2023-09-30 05555048 core:LandBuildings core:ShortLeaseholdAssets 2023-09-30 05555048 core:FurnitureFittingsToolsEquipment 2023-09-30 05555048 bus:SmallEntities 2023-10-01 2024-09-30 05555048 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 05555048 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 05555048 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 05555048 bus:FullAccounts 2023-10-01 2024-09-30 05555048 core:FurnitureFittings 2023-10-01 2024-09-30 05555048 core:FurnitureFittings 2023-09-30 05555048 core:FurnitureFittings 2024-09-30
Company registration number: 05555048
MARTIN AND COMPANY (BRIDPORT ) LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
30 September 2024
MARTIN AND COMPANY (BRIDPORT ) LIMITED
BALANCE SHEET
30TH SEPTEMBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 412,672 412,672
Tangible assets 6 3,788 2,802
_______ _______
416,460 415,474
Current assets
Debtors 7 159,658 161,265
Cash at bank and in hand 210,171 149,587
_______ _______
369,829 310,852
Creditors: amounts falling due
within one year 8 ( 176,527) ( 161,045)
_______ _______
Net current assets 193,302 149,807
_______ _______
Total assets less current liabilities 609,762 565,281
Provisions for liabilities ( 497) ( 412)
_______ _______
Net assets 609,265 564,869
_______ _______
Capital and reserves
Called up share capital 156 156
Revaluation reserve 19,672 19,672
Profit and loss account 589,437 545,041
_______ _______
Shareholders funds 609,265 564,869
_______ _______
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 November 2024 , and are signed on behalf of the board by:
RD Varndell BR Kenway
Director Director
Company registration number: 05555048
MARTIN AND COMPANY (BRIDPORT ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30TH SEPTEMBER 2024
1. General information
The company is a private company limited by shares, registered in . The address of the registered office is 2 Victoria Grove, Bridport, Dorset, DT6 3AA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
Office furniture - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 12 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st October 2023 and 30th September 2024 412,672 412,672
_______ _______
Amortisation
At 1st October 2023 and 30th September 2024 - -
_______ _______
Carrying amount
At 30th September 2024 412,672 412,672
_______ _______
At 30th September 2023 412,672 412,672
_______ _______
6. Tangible assets
Short leasehold property Fixtures, fittings and equipment Office furniture Total
£ £ £ £
Cost
At 1st October 2023 5,511 14,930 2,033 22,474
Additions - 799 1,434 2,233
Disposals - ( 105) - ( 105)
_______ _______ _______ _______
At 30th September 2024 5,511 15,624 3,467 24,602
_______ _______ _______ _______
Depreciation
At 1st October 2023 5,510 12,266 1,896 19,672
Charge for the year - 1,010 236 1,246
Disposals - ( 104) - ( 104)
_______ _______ _______ _______
At 30th September 2024 5,510 13,172 2,132 20,814
_______ _______ _______ _______
Carrying amount
At 30th September 2024 1 2,452 1,335 3,788
_______ _______ _______ _______
At 30th September 2023 1 2,664 137 2,802
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 150,214 152,822
Other debtors 9,444 8,443
_______ _______
159,658 161,265
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 9,670 8,113
Corporation tax 42,288 34,475
Social security and other taxes 38,875 39,729
Other creditors 85,694 78,728
_______ _______
176,527 161,045
_______ _______