8 6 Martock Commercials Limited 06133913 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of commercial vehicle repairs Digita Accounts Production Advanced 6.30.9574.0 true true 06133913 2024-04-01 2025-03-31 06133913 2025-03-31 06133913 core:CurrentFinancialInstruments 2025-03-31 06133913 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 06133913 core:Non-currentFinancialInstruments 2025-03-31 06133913 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 06133913 core:Goodwill 2025-03-31 06133913 core:FurnitureFittings 2025-03-31 06133913 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 06133913 core:MotorVehicles 2025-03-31 06133913 core:PlantMachinery 2025-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2025-03-31 06133913 bus:SmallEntities 2024-04-01 2025-03-31 06133913 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06133913 bus:FilletedAccounts 2024-04-01 2025-03-31 06133913 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 06133913 bus:RegisteredOffice 2024-04-01 2025-03-31 06133913 bus:Director1 2024-04-01 2025-03-31 06133913 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06133913 core:Goodwill 2024-04-01 2025-03-31 06133913 core:Buildings 2024-04-01 2025-03-31 06133913 core:FurnitureFittings 2024-04-01 2025-03-31 06133913 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 06133913 core:MotorVehicles 2024-04-01 2025-03-31 06133913 core:PlantMachinery 2024-04-01 2025-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-01 2025-03-31 06133913 countries:EnglandWales 2024-04-01 2025-03-31 06133913 2024-03-31 06133913 core:Goodwill 2024-03-31 06133913 core:FurnitureFittings 2024-03-31 06133913 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06133913 core:MotorVehicles 2024-03-31 06133913 core:PlantMachinery 2024-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 06133913 2023-04-01 2024-03-31 06133913 2024-03-31 06133913 core:CurrentFinancialInstruments 2024-03-31 06133913 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06133913 core:Non-currentFinancialInstruments 2024-03-31 06133913 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06133913 core:FurnitureFittings 2024-03-31 06133913 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06133913 core:MotorVehicles 2024-03-31 06133913 core:PlantMachinery 2024-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 06133913 2023-03-31 06133913 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 06133913

Martock Commercials Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 March 2025

Martock Commercials Limited

Contents

Balance Sheet | 1 to 2
Notes to the Financial Statements | 3 to 9

Martock Commercials Limited

(Registration number: 06133913)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 36,537 | 44,083
Current assets |  |  |
Stocks | 6 | 2,608 | 1,977
Debtors | 7 | 139,281 | 147,722
Cash at bank and in hand |  | 45,625 | 49,686
|  | 187,514 | 199,385
Creditors: Amounts falling due within one year | 8 | (106,669) | (116,816)
Net current assets |  | 80,845 | 82,569
Total assets less current liabilities |  | 117,382 | 126,652
Creditors: Amounts falling due after more than one year | 8 | (2,341) | (10,688)
Provisions for liabilities |  | (7,483) | (8,994)
Net assets |  | 107,558 | 106,970
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 107,458 | 106,870
Shareholders' funds |  | 107,558 | 106,970

Martock Commercials Limited

(Registration number: 06133913)
Balance Sheet as at 31 March 2025

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.

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 26 September 2025 and signed on its behalf by:

M J Timbrell Director |  |

Martock Commercials Limited

Notes to the 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 and Wales.

The address of its registered office is:
Unit 10
Great Western Road
Martock
Somerset
TA12 6HB

These financial statements were authorised for issue by the Board on 26 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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

Going concern

The directors have reviewed the supply chains, key customers and the capital resources available and consider that the company has adequate resources in place to continue trading for the next twelve months.

Martock Commercials Limited

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

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue for the sale of goods when all the following conditions are satisfied:
a) the significant risks and rewards of ownership have been transferred to the buyer;
b) the group retains no continuing involvement or control over the goods;
c) the amount of revenue can be reliably measured;
d) it is probable that future economic benefits will flow to the company; and
e) specific criteria have been met for each of the groups activities.
The company recognises revenue from the provision of services in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
a) the amount of revenue can be reliably measured;
b) it is probable that future economic benefit will flow to the company;
c) the stage of completion of the contract at the end of the reporting period can be reliably measured; and
d) the costs incurred and the costs to complete the contract can be reliably measured.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance

Martock Commercials Limited

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

Fixtures and fittings | 25% reducing balance
Motor vehicles | 25% reducing balance
Property improvements | 10% straight line

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 | equal instalments over 10 years

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.

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 stocks 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.

Martock Commercials Limited

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

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 directors) during the year was 8 (2024 - 6).

Martock Commercials Limited

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

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 April 2024 | 150,000 | 150,000
At 31 March 2025 | 150,000 | 150,000
Amortisation
At 1 April 2024 | 150,000 | 150,000
At 31 March 2025 | 150,000 | 150,000
Carrying amount
At 31 March 2025 | - | -

.

5 | Tangible assets

| Freehold land and buildings £ | Furniture, fittings and equipment £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 April 2024 | 16,415 | 11,773 | 57,266 | 26,225 | 111,679
Additions | - | 207 | 999 | - | 1,206
At 31 March 2025 | 16,415 | 11,980 | 58,265 | 26,225 | 112,885
Depreciation
At 1 April 2024 | 8,837 | 7,415 | 35,099 | 16,245 | 67,596
Charge for the year | 1,641 | 1,141 | 3,475 | 2,495 | 8,752
At 31 March 2025 | 10,478 | 8,556 | 38,574 | 18,740 | 76,348
Carrying amount
At 31 March 2025 | 5,937 | 3,424 | 19,691 | 7,485 | 36,537
At 31 March 2024 | 7,578 | 4,358 | 22,167 | 9,980 | 44,083

Included within the net book value of land and buildings above is £5,937 (2024 - £7,578) in respect of freehold land and buildings.

Martock Commercials Limited

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

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | 2,608 | 1,977

7 | Debtors

| Note | 2025 £ | 2024 £
Trade debtors |  | 114,308 | 119,152
Amounts owed by related parties | 10 | 17,371 | 21,688
Prepayments |  | 7,602 | 6,882
|  | 139,281 | 147,722

8 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 9 | 8,348 | 8,141
Trade creditors |  | 42,211 | 53,146
Taxation and social security |  | 29,364 | 24,977
Other creditors |  | 8,119 | 7,670
Accruals and deferred income |  | 8,671 | 8,498
Corporation tax control |  | 9,956 | 14,384
|  | 106,669 | 116,816

Creditors include bank loans and overdrafts which are secured of £8,141 (2023 - £7,928).

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 2,341 | 10,688

Creditors include bank loans and overdrafts which are secured of £10,688 (2023 - £18,841).

Martock Commercials Limited

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

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 8,348 | 8,141

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 2,341 | 10,688

Hire purchase contracts are secured against the assets to which they relate.

10 | Related party transactions

Loans from related parties

2025 | Key management £ | Total £
At start of period | (3,676) | (3,676)
Advanced | 19,404 | 19,404
Repaid | (17,000) | (17,000)
At end of period | (1,272) | (1,272)

2024 | Key management £ | Total £
At start of period | (485) | (485)
Advanced | 65,304 | 65,304
Repaid | (68,495) | (68,495)
At end of period | (3,676) | (3,676)