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Registered number: 01651640

Martex Paints Ltd

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024

Prepared By:
Taylor & Taylor Accountants Limited
Chartered Accountants
175 Cole Valley Road
Birmingham
B28 0DG

Martex Paints Ltd

ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
DIRECTORS
M.Hickling
D.Hickling
REGISTERED OFFICE
8B James Rd
Tyseley
Birmingham
B11 2BA
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 01651640
ACCOUNTANTS
Taylor & Taylor Accountants Limited
Chartered Accountants
175 Cole Valley Road
Birmingham
B28 0DG

Martex Paints Ltd

ACCOUNTS
FOR THEYEARENDED30/09/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Martex Paints Ltd

BALANCE SHEET AT 30/09/2024
20242023
Notes££
FIXED ASSETS
Tangible assets33,0344,046
CURRENT ASSETS
Stock61,84360,582
Debtors593,87865,546
Cash at bank and in hand12,62613,528
168,347139,656
CREDITORS: Amounts falling due within one year6615,580563,250
NET CURRENT LIABILITIES(447,233)(423,594)
TOTAL ASSETS LESS CURRENT LIABILITIES(444,199)(419,548)
CAPITAL AND RESERVES
Called up share capital7100100
Profit and loss account(444,299)(419,648)
SHAREHOLDERS' FUNDS(444,199)(419,548)
For the year ending 30/09/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 21/07/2025 and signed on their behalf by
.............................
D.Hickling
Director

Martex Paints Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/09/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have been prepared on a going concern basis despite the insolvent nature of the balance sheet. The director believes that the company can continue to trade for the forseeable future and meet all liabilities as they fall due
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
Motor Carsreducing balance 25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1f.

Martex Paints Ltd

2. EMPLOYEES
20242023
No.No.
Average number of employees44
3. TANGIBLE FIXED ASSETS
EquipmentMotor CarsTotal
£££
Cost
At 01/10/202372,27612,50084,776
At 30/09/202472,27612,50084,776
Depreciation
At 01/10/202372,1858,54580,730
For the year239891,012
At 30/09/202472,2089,53481,742
Net Book Amounts
At 30/09/2024682,9663,034
At 30/09/2023913,9554,046
4. STOCK 20242023
££
Stock comprises:
Stock61,84360,582
61,84360,582
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors92,98063,235
Prepayments8982,311
93,87865,546

Martex Paints Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
VAT3,2701,286
PAYE control2,141922
Directors current account490,500464,777
Bank Loan11,11715,643
Trade creditors103,31073,389
Accruals5,2427,233
615,580563,250
7. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100