Martek Contracts Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 01621476

MARTEK CONTRACTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2026

MARTEK CONTRACTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		23,996		42,251

Current assets

Stocks		159,888	255,792
Debtors	6	1,039,806	1,103,671
Cash at bank and in hand		95,852	3,244
		-------------	-------------
		1,295,546	1,362,707

Creditors: amounts falling due within one year	7	676,176		845,219
		-------------		-------------
Net current assets			619,370		517,488
			----------		----------
Total assets less current liabilities			643,366		559,739

Creditors: amounts falling due after more than one year	8	–	29,630
		----------	----------
Net assets		643,366	530,109
		----------	----------

Capital and reserves

Called up share capital	10	74	74
Capital redemption reserve		33	33
Profit and loss account		643,259	530,002
		----------	----------
Shareholders funds		643,366	530,109
		----------	----------

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 31st March 2026 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MARTEK CONTRACTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 5 August 2026 , and are signed on behalf of the board by:

W.D. Galloway

Director

Company registration number: 01621476

MARTEK CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is High Point Mill, King Henry's Drive, New Addington, Croydon, CR0 0AE.

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, as modified by the revaluation of certain financial assets and liabilities.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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, stated net of discounts and of Value Added Tax.

Income tax

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:

Short leasehold property	-	over the life of the lease
Plant and machinery	-	over 3 to 10 year straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 38 (2025: 38 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Total
	£	£	£
Cost
At 1st April 2025 and 31st March 2026	158,270	416,516	574,786
	----------	----------	----------
Depreciation
At 1st April 2025	158,270	374,265	532,535
Charge for the year	–	18,255	18,255
	----------	----------	----------
At 31st March 2026	158,270	392,520	550,790
	----------	----------	----------
Carrying amount
At 31st March 2026	–	23,996	23,996
	----------	----------	----------
At 31st March 2025	–	42,251	42,251
	----------	----------	----------

6. Debtors

	2026	2025
	£	£
Trade debtors	290,443	522,558
Amounts owed by customers on construction contracts	592,000	395,000
Deferred tax asset	52,499	81,186
Other debtors	104,864	104,927
	-------------	-------------
	1,039,806	1,103,671
	-------------	-------------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	29,630	208,045
Trade creditors	473,426	406,340
Accruals and deferred income	55,245	45,635
Social security and other taxes	64,365	100,201
Director loan accounts	50,500	72,500
Other creditors	3,010	12,498
	----------	----------
	676,176	845,219
	----------	----------

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

	2026	2025
	£	£
Bank loans and overdrafts	–	29,630
	----	---------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2026	2025
	£	£
Included in debtors (note 6)	52,499	81,186
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2026	2025
	£	£
Accelerated capital allowances	4,559	8,028
Unused tax losses	( 57,058)	( 89,214)
	---------	---------
	(52,499)	(81,186)
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2026		2025
	No.	£	No.	£
Ordinary shares of £ 0.01 each	7,444	74	7,444	74
	-------	----	-------	----

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2026	2025
	£	£
Not later than 1 year	120,000	120,000
Later than 1 year and not later than 5 years	480,000	480,000
Later than 5 years	120,000	240,000
	----------	----------
	720,000	840,000
	----------	----------

12. Charges on assets

The company has a fixed and floating charge over all the assets of the company in favour of NatWest Bank over any and all borrowings from them, which includes the company's CBILS loan.