Company registration number 02769315 (England and Wales)
MARTEN GIBBON ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MARTEN GIBBON ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
MARTEN GIBBON ASSOCIATES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,376
4,465
Current assets
Stocks
23,373
11,127
Debtors
5
508,080
220,429
Cash at bank and in hand
225,522
446,333
756,975
677,889
Creditors: amounts falling due within one year
6
(248,774)
(228,664)
Net current assets
508,201
449,225
Net assets
510,577
453,690
Capital and reserves
Called up share capital
80,000
80,000
Profit and loss reserves
430,577
373,690
Total equity
510,577
453,690

The notes on pages 2 to 6 form part of these financial statements.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 August 2025 and are signed on its behalf by:
D M Millns
Director
Company registration number 02769315 (England and Wales)
MARTEN GIBBON ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Marten Gibbon Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 Maltings Place, 169 Tower Bridge Road, London, England, SE1 3JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, ttruehe directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

1.3
Turnover

Revenue is recognised in the accounting period in which the services are rendered, after adjustment for time costs included in work in progress.

Deferred income represents amounts invoiced to customers for work to be undertaken in the following year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33.3% straight line
Fixtures and fittings
25% on reducing balance

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.

1.5
Stocks

Work in progress is stated at the lower of time costs (plus attributable overheads) and estimated selling price less costs to complete and sell.

1.6
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 current liabilities.

MARTEN GIBBON ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

MARTEN GIBBON ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Employee benefits

The company provides a range of benefits to employees, including paid holiday arrangements and income protection cover.

 

(i) Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

 

(ii) Pension arrangements

The company currently operates a stakeholder pension scheme to which it does not contribute. The company also operates a defined contribution pension scheme for auto-enrolment purposes. The pension charge represents the amounts payable by the company in respect of the year. The assets of the scheme are held separately from those of the company.

1.10
Retirement benefits

The company currently operates a Stakeholders pension scheme to which it does not contribute. The assets of the scheme are held separately for auto enrollment purposes from that of the company.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.13

Related party transactions

The company has taken advantage of the exemption under FRS 102 Section 1A not to disclose transactions and balances with other members of the group.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are no critical judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

MARTEN GIBBON ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
9
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Total
£
£
£
Cost
At 1 January 2024
29,142
16,148
45,290
Additions
923
-
0
923
At 31 December 2024
30,065
16,148
46,213
Depreciation and impairment
At 1 January 2024
25,506
15,319
40,825
Depreciation charged in the year
2,735
277
3,012
At 31 December 2024
28,241
15,596
43,837
Carrying amount
At 31 December 2024
1,824
552
2,376
At 31 December 2023
3,636
829
4,465
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
138,712
204,411
Amounts owed by group undertakings
253,355
2,885
Other debtors
100,000
-
0
Prepayments and accrued income
16,013
13,133
508,080
220,429
MARTEN GIBBON ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
22,234
44,501
Amounts owed to group undertakings
-
0
37,163
Corporation tax
26,793
5,713
Other taxation and social security
49,418
28,985
Other creditors
25,000
-
0
Accruals and deferred income
125,329
112,302
248,774
228,664
7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Total commitments
9,857
5,825
8
Parent company

The ultimate parent undertaking is MGA Group Limited, a company incorporated in England and Wales and whose registered office is 30 Maltings Place, 169 Tower Bridge Road, London SE1 3JB.

2024-12-312024-01-01falsefalsefalse12 August 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityD M MillnsP A AffleckA K PamphilonP A Affleck027693152024-01-012024-12-31027693152024-12-31027693152023-12-3102769315core:PlantMachinery2024-12-3102769315core:FurnitureFittings2024-12-3102769315core:PlantMachinery2023-12-3102769315core:FurnitureFittings2023-12-3102769315core:ShareCapital2024-12-3102769315core:ShareCapital2023-12-3102769315core:RetainedEarningsAccumulatedLosses2024-12-3102769315core:RetainedEarningsAccumulatedLosses2023-12-3102769315bus:Director12024-01-012024-12-3102769315core:PlantMachinery2024-01-012024-12-3102769315core:FurnitureFittings2024-01-012024-12-31027693152023-01-012023-12-3102769315core:PlantMachinery2023-12-3102769315core:FurnitureFittings2023-12-31027693152023-12-3102769315core:CurrentFinancialInstruments2024-12-3102769315core:CurrentFinancialInstruments2023-12-3102769315bus:PrivateLimitedCompanyLtd2024-01-012024-12-3102769315bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3102769315bus:FRS1022024-01-012024-12-3102769315bus:AuditExemptWithAccountantsReport2024-01-012024-12-3102769315bus:Director22024-01-012024-12-3102769315bus:Director32024-01-012024-12-3102769315bus:CompanySecretary12024-01-012024-12-3102769315bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP