Registered Number
:
04987372
|
For the period ended 31 December 2016
England and Wales
Unaudited Financial Statements
For the period ended 31 December 2016
K Martin & Son Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
K Martin & Son Limited
Statement of Financial Position
30/9/2016
31/12/2016
Property
,
plant and equipment
|
836,382
852,633
2
836,382
852,633
20,167
19,740
Trade and other receivables
|
764,499
49,345
3
265,130
Cash and cash equivalents
|
218,398
287,483
1,049,796
Trade and other payables
:
amounts falling due within one year
|
(819,641)
(188,670)
4
230,155
98,813
Net current assets
Total assets less current liabilities
|
935,195
1,082,788
Trade and other payables
:
amounts falling due after more than
|
one year
|
(63,556)
(48,366)
5
(97,935)
(105,194)
Provisions for liabilities
|
788,894
Net assets
914,038
100
100
788,794
913,938
788,894
914,038
Shareholders' funds
For the period ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
|
b
)
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
|
financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394
and
395
and
|
which otherwise comply with the requirements of the Companies Act
2006
relating to financial statements
,
so far as
|
applicable to the company
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
Mr Colin Kenneth Martin Director
|
Mrs Jane Elizabeth Martin Director
|
These financial statements were approved and authorised for issue by the Board on 20 July 2017 and were signed by:
|
1 of 5
For the period ended 31 December 2016
K Martin & Son Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the period ended 31 December 2016
K Martin & Son Limited
Notes to the Financial Statements
Statutory Information
K Martin
&
Son Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
04987372
.
|
The Chilterns Roman Bank
Holbeach Bank
Holbeach, Spalding
Lincs
PE12 8BX
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial Reporting
|
Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the Companies Act
2006
.
|
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain
|
assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and machinery
Tractors and motor vehicles
No depreciation is provided on the company
''
s freehold properties since in the opinion of the directors the expected useful
|
lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be
|
immaterial
.
The directors undertake an annual impairment review of these properties
.
|
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
|
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
|
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
|
3 of 5
For the period ended 31 December 2016
K Martin & Son Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Tractors and
|
motor vehicles
|
1,865,385
965,547
788,176
111,662
6,500
-
6,500
-
111,662
794,676
965,547
1,871,885
Provision for depreciation and impairment
|
1,012,752
520,764
491,988
-
Charge for period
22,751
7,616
15,135
-
1,035,503
528,380
507,123
-
111,662
287,553
437,167
836,382
111,662
296,188
444,783
852,633
3
.
Trade and other receivables
|
30/9/2016
31/12/2016
38,118
757,532
11,227
6,967
764,499
49,345
4
.
Trade and other payables
:
amounts falling due within one year
|
30/9/2016
31/12/2016
47,768
326,142
Taxation and social security
|
24,731
291,718
116,171
201,781
188,670
819,641
5
.
Trade and other payables
:
amounts falling due after more than one year
|
30/9/2016
31/12/2016
48,366
63,556
As of 21st April 2004 the bank holds a debenture securing all monies owing or becoming due from the company to the bank on any account registered to the pursuant.
|
4 of 5
For the period ended 31 December 2016
K Martin & Son Limited
Notes to the Financial Statements Continued
6
.
Related party transactions
|
Name
:
Mr C K Martin
&
Mrs J E Martin
|
Current year
: (
26
,
713
)
|
Previous year
: (
18
,
355
)
|
Related Party Transactions
|
The credit movement of £
8
,
358
is represented by capital itnroduced
.
|
7
.
Guarantees and other financial commitments
|
The company operates a defined contribution pension scheme
.
The scheme and its assets are held by independent
|
managers
.
The pension charge represents contributions due from the company and amounted to £
101
,
621
(
2016
-
£
109
,
293
)
|
Pension commitments
8
.
Average number of persons employed
|
During the year the average number of employees was 35 (2016 : 35)
5 of 5