Martyn Reader Mortgages Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10596381

Martyn Reader Mortgages Limited

Filleted Unaudited Financial Statements

31 March 2025

Martyn Reader Mortgages Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Current assets

Debtors	7	–	457
Cash at bank and in hand		8,412	10,690
		-------	--------
		8,412	11,147

Creditors: amounts falling due within one year	8	15,119	14,364
		--------	--------
Net current liabilities		6,707	3,217
		-------	-------
Total assets less current liabilities		( 6,707)	( 3,217)

Creditors: amounts falling due after more than one year	9	740	5,161
		-------	-------
Net liabilities		( 7,447)	( 8,378)
		-------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 7,547)	( 8,478)
	-------	-------
Shareholders deficit	( 7,447)	( 8,378)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 11 December 2025 , and are signed on behalf of the board by:

M Reader
Director

Company registration number: 10596381

Martyn Reader Mortgages Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bridge Street, Newport, South Wales, NP20 4SF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest whole pound.

Going concern

There are no material uncertainties relating to the going concern status of the company.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% p.a. Straight line basis

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% p.a.Straight line basis

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 2 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	11,000
	--------
Amortisation
At 1 April 2024 and 31 March 2025	11,000
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Equipment
	£
Cost
At 1 April 2024 and 31 March 2025	1,941
	-------
Depreciation
At 1 April 2024 and 31 March 2025	1,941
	-------
Carrying amount
At 31 March 2025	–
	-------
At 31 March 2024	–
	-------

7. Debtors

	2025	2024
	£	£
Other debtors	–	457
	----	----

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	4,316	4,111
Corporation tax	10,016	9,340
Other creditors	787	913
	--------	--------
	15,119	14,364
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	740	5,161
	----	-------

10. Director's advances, credits and guarantees

As at 31 March 2024 the director was owed by the company £555 (2023: £292).