Registration number: 11700284

Martyn Kemp Motors Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Martyn Kemp Motors Limited

Company Information

Director

Mr Martyn I Kemp

Registered office

Unit 1 The Malthouse Daveys Lane Lewes BN7 2BF

Accountants

Shoreline Accountants Ltd 25 Clinton Place Seaford East Sussex BN25 1NP

Martyn Kemp Motors Limited

(Registration number: 11700284)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	3,625	4,833
Tangible assets	5	1,531,978	97,437
		1,535,603	102,270
Current assets
Stocks	6	5,852	36,375
Debtors	7	18,708	32,042
Cash at bank and in hand		122,877	387,170
		147,437	455,587
Creditors: Amounts falling due within one year	8	(58,007)	(65,258)
Net current assets		89,430	390,329
Total assets less current liabilities		1,625,033	492,599
Creditors: Amounts falling due after more than one year	8	(1,050,438)	(29,712)
Net assets		574,595	462,887
Capital and reserves
Called up share capital	9	1	1
Retained earnings		574,594	462,886
Shareholders' funds		574,595	462,887

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 June 2025
 

Martyn Kemp Motors Limited

(Registration number: 11700284)
Balance Sheet as at 31 March 2025

......................................... Mr Martyn I Kemp Director

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1 The Malthouse
Daveys Lane
Lewes
BN7 2BF

These financial statements were authorised for issue by the director on 6 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 6).

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	10,000	10,000
At 31 March 2025	10,000	10,000
Amortisation
At 1 April 2024	5,167	5,167
Amortisation charge	1,208	1,208
At 31 March 2025	6,375	6,375
Carrying amount
At 31 March 2025	3,625	3,625
At 31 March 2024	4,833	4,833

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	-	148,407	26,545	174,952
Additions	1,431,141	13,202	14,557	1,458,900
At 31 March 2025	1,431,141	161,609	41,102	1,633,852
Depreciation
At 1 April 2024	-	59,130	18,385	77,515
Charge for the year	-	22,319	2,040	24,359
At 31 March 2025	-	81,449	20,425	101,874
Carrying amount
At 31 March 2025	1,431,141	80,160	20,677	1,531,978
At 31 March 2024	-	89,277	8,160	97,437

Included within the net book value of land and buildings above is £1,431,141 (2024 - £Nil) in respect of freehold land and buildings.
 

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

	2025 £	2024 £
Work in progress	-	3,800
Other inventories	5,852	32,575
	5,852	36,375

7

Debtors

Current	2025 £	2024 £
Trade debtors	17,484	13,193
Prepayments	1,224	15,937
Other debtors	-	2,912
	18,708	32,042

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	55,498	63,504
Accruals and deferred income	2,509	1,754
	58,007	65,258

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	1,050,438	29,712

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
of £1 each	1	1	1	1

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Other borrowings	1,050,438	29,712

11

Dividends

		2025		2024
		£		£

12	Related party transactions

Martyn Kemp Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Director's remuneration

The director's remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	12,570	12,714