Registration number: 00124649 (England and Wales)

Martin and Company Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Martin and Company Limited

Company Information

Directors

Ian Dimmer Alexandra Dimmer Jonathan Dimmer Annabel Hudson

Company secretary

Pamela West

Registered office

19 The Promenade Cheltenham GL50 1LP

Bankers

Handelsbanken plc First Floor Regents House 65 Rodney Road Cheltenham GL50 1HX

Auditors

Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Martin and Company Limited

(Registration number: 00124649 (England & Wales))
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	6	1,776,226	1,809,920
Current assets
Stocks		3,110,480	3,020,525
Debtors	7	50,918	45,665
Cash at bank and in hand		1,371,600	1,226,631
		4,532,998	4,292,821
Creditors: Amounts falling due within one year	8	(1,004,181)	(921,285)
Net current assets		3,528,817	3,371,536
Total assets less current liabilities		5,305,043	5,181,456
Creditors: Amounts falling due after more than one year	8	(230,000)	(230,000)
Deferred tax liabilities	5	(373,856)	(422,646)
Net assets		4,701,187	4,528,810
Capital and reserves
Called up share capital	10	10,000	10,000
Revaluation reserve		1,175,900	1,175,900
Retained earnings		3,515,287	3,342,910
Shareholders' funds		4,701,187	4,528,810

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 3 July 2026 and signed on its behalf by:
 

Jonathan Dimmer
Director

Martin and Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
19 The Promenade
Cheltenham
GL50 1LP

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

The key judgement is over the recoverable amount of stock. Based on the opinion of the directors, as at 31 January 2026, no provision (2025 - no provision) has been recognised against stock which had a original carrying value of £3,110,480 (2025: £3,020,525).

Key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgement had a significant effect on the amounts recognised in the financial statements:

Revaluation of freehold property:
The Company has opted to account for its freehold property at fair value which was determined by independent qualified valuers using evidence from observed prices in market transactions for similar properties in similar locations.

Martin and Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

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 and after eliminating sales within the company.

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 and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred corporation tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures, fittings and equipment	15-25% of cost

The company owns a Grade 2 listed building, which is maintained in a state of constant repair. Due to its historical significance and the company's commitment to preserving the building, it is considered to have an indefinite useful life. Consequently, the building is not depreciated. This policy is reviewed annually to ensure that the building's condition and maintenance practices continue to justify the non-depreciation approach.

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Martin and Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

Financial Instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
 

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Martin and Company Limited

Notes to the Financial Statements for the Year Ended 31 January 2026

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised costs, the amount of an impairment is the difference between the asset's carrying amount and the best estimate that would be received for the asset is it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the de crease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2025 - 21).

4

Taxation

Tax charged in the profit and loss account

	2026 £	2025 £
Current taxation
UK corporation tax	106,303	171,903
Deferred taxation
Arising from origination and reversal of timing differences	(48,790)	(19,051)
Tax expense in the income statement	57,513	152,852

5

Deferred tax

Deferred tax assets and liabilities

2026	Liability £
Fixed asset timing differences	40,696
Capital gains	359,390
Short term timing differences	(7,526)
	392,560