Registration number: 06639476

Market Square Trading Limited

Contents

Company Information	1
Statement of Comprehensive Income	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Market Square Trading Limited

Company Information

Directors

Mr B Hallett Mr J W Hallett

Company secretary

Mr B Hallett

Registered office

Ferry Cottage Passage Road Noss Mayo Plymouth Devon PL8 1EU

Accountants

Carter Nicholls Ltd Victoria House Stanbridge Park Staplefield Lane Staplefield West Sussex RH17 6AS

Market Square Trading Limited

Statement of Comprehensive Income for the Year Ended 31 December 2024

	2024 £	2023 £
Loss for the year	(85,254)	(165,550)
Total comprehensive income for the year	(85,254)	(165,550)

Market Square Trading Limited

(Registration number: 06639476)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	5	-	10,000
Tangible assets	6	50,161	119,029
		50,161	129,029
Current assets
Stocks	7	4,000	5,970
Debtors	8	11,964	11,860
Cash at bank and in hand		12,652	26,657
		28,616	44,487
Creditors: Amounts falling due within one year	9	(136,765)	(185,695)
Net current liabilities		(108,149)	(141,208)
Total assets less current liabilities		(57,988)	(12,179)
Creditors: Amounts falling due after more than one year	9	(1,869,535)	(1,830,090)
Net liabilities		(1,927,523)	(1,842,269)
Capital and reserves
Called up share capital	10	100,000	100,000
Retained earnings		(2,027,523)	(1,942,269)
Shareholders' deficit		(1,927,523)	(1,842,269)

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 September 2025 and signed on its behalf by:
 

......................................... Mr J W Hallett Director

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Ferry Cottage
Passage Road
Noss Mayo
Plymouth
Devon
PL8 1EU
United Kingdom

These financial statements were authorised for issue by the Board on 11 September 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

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.

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:

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Equipment	25% reducing balance

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:

Asset class	Amortisation method and rate
Goodwill	10% - 100% straight line

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.

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.

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

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 directors) during the year, was 15 (2023 - 19).

4	Loss before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	11,865	39,676
Amortisation expense	10,000	10,000

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	100,000	100,000
Disposals	(100,000)	(100,000)
At 31 December 2024	-	-
Amortisation
At 1 January 2024	90,000	90,000
Amortisation charge	10,000	10,000
Amortisation eliminated on disposals	(100,000)	(100,000)
At 31 December 2024	-	-
Carrying amount
At 31 December 2024	-	-
At 31 December 2023	10,000	10,000

6	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	337,165	19,265	356,430
Disposals	(148,048)	(19,265)	(167,313)
At 31 December 2024	189,117	-	189,117
Depreciation
At 1 January 2024	228,973	8,428	237,401
Charge for the year	11,865	-	11,865
Eliminated on disposal	(101,882)	(8,428)	(110,310)
At 31 December 2024	138,956	-	138,956
Carrying amount
At 31 December 2024	50,161	-	50,161
At 31 December 2023	108,192	10,837	119,029

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Stocks

	2024 £	2023 £
Other inventories	4,000	5,970

8

Debtors

Current	2024 £	2023 £
Trade debtors	2,789	2,051
Prepayments	9,175	9,809
	11,964	11,860

9

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	11	5,556	5,556
Trade creditors		40,939	48,582
Taxation and social security		25,112	28,818
Accruals and deferred income		8,372	12,659
Other creditors		56,786	90,080
		136,765	185,695

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans	11	1,869,535	1,830,090

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	100,000	100,000	100,000	100,000

Market Square Trading Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

11

Loans

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	24,535	30,090
Other loans	1,845,000	1,800,000
	1,869,535	1,830,090

12	Related party transactions

As at 31.12.2024 the company owed £1,845,000 to Market Square Limited (31.12.2023 - £1,790,000).

As at 31.12.2024 the company owed £56,706 to Market Square Limited (31.12.2023 - £90,000).

As at 31.12.2024 the company owed NIL to Guy Awford Food Limited (31.12.2023 - £10,000).

13	Parent and ultimate parent undertaking

The ultimate parent is Market Square Investments Limited, incorporated in England.