IRIS Accounts Production v25.2.0.378 06069627 director 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh060696272023-03-31060696272024-03-31060696272023-04-012024-03-31060696272022-03-31060696272022-04-012023-03-31060696272023-03-3106069627ns15:EnglandWales2023-04-012024-03-3106069627ns14:PoundSterling2023-04-012024-03-3106069627ns10:Director12023-04-012024-03-3106069627ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106069627ns10:SmallEntities2023-04-012024-03-3106069627ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106069627ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106069627ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106069627ns10:FullAccounts2023-04-012024-03-310606962712023-04-012024-03-3106069627ns10:RegisteredOffice2023-04-012024-03-3106069627ns5:CurrentFinancialInstruments2024-03-3106069627ns5:CurrentFinancialInstruments2023-03-3106069627ns5:Non-currentFinancialInstruments2024-03-3106069627ns5:Non-currentFinancialInstruments2023-03-3106069627ns5:ShareCapital2024-03-3106069627ns5:ShareCapital2023-03-3106069627ns5:RetainedEarningsAccumulatedLosses2024-03-3106069627ns5:RetainedEarningsAccumulatedLosses2023-03-3106069627ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3106069627ns5:PlantMachinery2023-04-012024-03-3106069627ns5:MotorVehicles2023-04-012024-03-3106069627ns5:ComputerEquipment2023-04-012024-03-3106069627ns5:NetGoodwill2023-03-3106069627ns5:NetGoodwill2024-03-3106069627ns5:NetGoodwill2023-03-3106069627ns5:PlantMachinery2023-03-3106069627ns5:MotorVehicles2023-03-3106069627ns5:ComputerEquipment2023-03-3106069627ns5:PlantMachinery2024-03-3106069627ns5:MotorVehicles2024-03-3106069627ns5:ComputerEquipment2024-03-3106069627ns5:PlantMachinery2023-03-3106069627ns5:MotorVehicles2023-03-3106069627ns5:ComputerEquipment2023-03-3106069627ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3106069627ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3106069627ns5:CurrentFinancialInstruments2023-04-012024-03-3106069627ns5:Secured2024-03-3106069627ns5:Secured2023-03-3106069627ns10:Director112023-03-3106069627ns10:Director112022-03-3106069627ns10:Director112023-04-012024-03-3106069627ns10:Director112022-04-012023-03-3106069627ns10:Director112024-03-3106069627ns10:Director112023-03-31
REGISTERED NUMBER: 06069627 (England and Wales)









MARTIN PEARCE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MARTIN PEARCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M LL Pearce





REGISTERED OFFICE: Bluebell Bank
Sarnau
Llanymynech
Powys
SY22 6QW





REGISTERED NUMBER: 06069627 (England and Wales)

MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 61,844 69,025
61,844 69,025

CURRENT ASSETS
Stocks 5,400 6,100
Debtors 6 361,097 347,546
Cash at bank and in hand 4,002 8
370,499 353,654
CREDITORS
Amounts falling due within one year 7 260,600 241,323
NET CURRENT ASSETS 109,899 112,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,743

181,356

CREDITORS
Amounts falling due after more than one
year

8

(42,118

)

(80,262

)

PROVISIONS FOR LIABILITIES (15,220 ) (16,934 )
NET ASSETS 114,405 84,160

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 114,305 84,060
SHAREHOLDERS' FUNDS 114,405 84,160

MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2025 and were signed by:





M LL Pearce - Director


MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Martin Pearce Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer & Office Equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Computer
Plant and Motor & Office
machinery vehicles Equipment Totals
£    £    £    £   
COST
At 1 April 2023 6,763 88,935 2,617 98,315
Additions 1,240 - - 1,240
Disposals (657 ) - - (657 )
At 31 March 2024 7,346 88,935 2,617 98,898
DEPRECIATION
At 1 April 2023 6,385 20,288 2,617 29,290
Charge for year 109 8,312 - 8,421
Eliminated on disposal (657 ) - - (657 )
At 31 March 2024 5,837 28,600 2,617 37,054
NET BOOK VALUE
At 31 March 2024 1,509 60,335 - 61,844
At 31 March 2023 378 68,647 - 69,025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 131,207 110,600
Other debtors 229,890 236,946
361,097 347,546

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 73,373 75,042
Hire purchase contracts 12,940 16,342
Trade creditors 54,969 44,092
Taxation and social security 91,842 83,859
Other creditors 27,476 21,988
260,600 241,323

The Bank Overdraft is secured by the Director's personal guarantee.

MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 16,496 41,700
Hire purchase contracts 25,622 38,562
42,118 80,262

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 48,813 52,456
Bank loans 41,056 64,286
Hire purchase contracts 38,562 54,904
128,431 171,646

Bank loans and overdrafts totalling £67,275 (2023: £84,220) are secured by a charge over property owned by the directors.

The amounts due under hire purchase contracts of £38,562 (2023: £54,904) are secured on the assets that they are financing. They are repayable in monthly instalments over the period of the agreements.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loans to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
M LL Pearce
Balance outstanding at start of year 180,915 170,066
Amounts advanced 42,374 52,214
Amounts repaid (47,965 ) (41,365 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 175,324 180,915

Interest of £3,963 was charged on the loan.

MARTIN PEARCE LIMITED (REGISTERED NUMBER: 06069627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. RELATED PARTY DISCLOSURES

During the year the company paid rent of £3,000 (2023: £2,400) to E Ll Pearce & Son, of which M LL Pearce (director) is a partner