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No description of principal activities is disclosed
2018-04-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
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iso4217:GBP
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2018-04-01
2019-03-31
5336627
2019-03-31
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5336627
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5336627
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2019-03-31
5336627
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2018-03-31
5336627
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2019-03-31
5336627
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2018-03-31
5336627
core:RetainedEarningsAccumulatedLosses
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2018-03-31
5336627
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2019-03-31
5336627
core:ShareCapital
2019-03-31
5336627
core:ShareCapital
2018-03-31
5336627
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5336627
core:RetainedEarningsAccumulatedLosses
2018-03-31
5336627
core:ShareCapital
2017-03-31
5336627
core:RetainedEarningsAccumulatedLosses
2017-03-31
5336627
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-03-31
5336627
core:PlantMachinery
2018-03-31
5336627
core:FurnitureFittingsToolsEquipment
2018-03-31
5336627
core:MotorVehicles
2018-03-31
5336627
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2018-03-31
5336627
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2019-03-31
5336627
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2018-03-31
5336627
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2019-03-31
5336627
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2017-03-31
5336627
bus:Director1
2018-03-31
5336627
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2017-03-31
5336627
bus:Director2
2018-03-31
5336627
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2018-03-31
5336627
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2018-03-31
5336627
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2019-03-31
Company registration number:
5336627
Martin Hart Shopfitting Limited
Unaudited filleted financial statements
31 March 2019
Martin Hart Shopfitting Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Martin Hart Shopfitting Limited
Directors and other information
|
|
|
|
Directors
|
Mr Martin Hart
|
|
|
Mrs Alison Hart
|
|
|
|
|
|
|
|
Secretary
|
Alison Hart
|
|
|
|
|
|
|
|
Company number
|
5336627
|
|
|
|
|
|
|
|
Registered office
|
Unit 52 Rumer Hill Business Estate
|
|
|
Rumer Hill Road
|
|
|
Cannock
|
|
|
Staffs
|
|
|
WS11 0ET
|
|
|
|
|
|
|
|
Business address
|
Unit 3 Middlemore Business Park
|
|
|
Middlemore Lane West
|
|
|
Aldridge
|
|
|
Walsall
|
|
|
WS9 8BG
|
|
|
|
|
|
|
|
Accountants
|
Lindley & Co
|
|
|
17 Millbrook Drive
|
|
|
Shenstone
|
|
|
Lichfield
|
|
|
Staffordshire
|
|
|
WS14 0JL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers
|
Lloyds TSB
|
|
|
Birmingham Road
|
|
|
Sutton Coldfield
|
|
|
West Midlands
|
|
|
|
Martin Hart Shopfitting Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Martin Hart Shopfitting Limited
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Martin Hart Shopfitting Limited for the year ended 31 March 2019 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Martin Hart Shopfitting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Martin Hart Shopfitting Limited and state those matters that we have agreed to state to the board of directors of Martin Hart Shopfitting Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Martin Hart Shopfitting Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Martin Hart Shopfitting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Martin Hart Shopfitting Limited. You consider that Martin Hart Shopfitting Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Martin Hart Shopfitting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lindley & Co
Chartered Certified Accountants
17 Millbrook Drive
Shenstone
Lichfield
Staffordshire
WS14 0JL
27 November 2019
Martin Hart Shopfitting Limited
Statement of financial position
31 March 2019
|
|
|
2019
|
|
|
|
2018
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
5
|
332,935
|
|
|
|
328,521
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
332,935
|
|
|
|
328,521
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Stocks
|
|
|
25,833
|
|
|
|
25,833
|
|
|
Debtors
|
|
6
|
126,918
|
|
|
|
88,104
|
|
|
Cash at bank and in hand
|
|
|
281,320
|
|
|
|
289,325
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
434,071
|
|
|
|
403,262
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
7
|
(
403,192)
|
|
|
|
(
306,580)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
30,879
|
|
|
|
96,682
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
363,814
|
|
|
|
425,203
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
8
|
|
|
(
35,705)
|
|
|
|
(
46,592)
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
1,989)
|
|
|
|
(
2,932)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
326,120
|
|
|
|
375,679
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
2
|
|
|
|
2
|
Profit and loss account
|
|
|
|
|
326,118
|
|
|
|
375,677
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
326,120
|
|
|
|
375,679
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2019 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.
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 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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 November 2019
, and are signed on behalf of the board by:
Mr Martin Hart
Director
Company registration number:
5336627
Martin Hart Shopfitting Limited
Statement of changes in equity
Year ended 31 March 2019
|
|
Called up share capital
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
£
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 April 2017
|
|
2
|
|
348,421
|
348,423
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
119,556
|
119,556
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
119,556
|
119,556
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
92,300)
|
(
92,300)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
92,300)
|
(
92,300)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2018 and 1 April 2018
|
|
2
|
|
375,677
|
375,679
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year
|
|
|
|
72,441
|
72,441
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total comprehensive income for the year
|
|
-
|
|
72,441
|
72,441
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends paid and payable
|
|
|
|
(
122,000)
|
(
122,000)
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
Total investments by and distributions to owners
|
|
-
|
|
(
122,000)
|
(
122,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
At 31 March 2019
|
|
2
|
|
326,118
|
326,120
|
|
|
|
|
|
|
|
_______
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin Hart Shopfitting Limited
Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Martin Hart Shopfitting Limited, Unit 52 Rumer Hill Business Estate, Rumer Hill Road, Cannock, Staffs, WS11 0ET.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the work carried out is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on sompletion of contract; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
No depreciation is provided on the buildings element of freehold property as the directors believe the property is maintained to such a standard that its residual value is in excess of cost and any element of depreciation would therefore be immaterial.
|
|
|
|
|
|
Plant and machinery
|
-
|
15 %
|
straight line
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
straight line
|
|
Motor vehicles
|
-
|
25 %
|
straight line
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
13
(2018:
14
).
5.
Tangible assets
|
|
Freehold property
|
Plant and machinery
|
Fixtures, fittings and equipment
|
Motor vehicles
|
Total
|
|
|
|
|
£
|
£
|
£
|
£
|
£
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 April 2018
|
304,420
|
29,569
|
18,570
|
64,085
|
416,644
|
|
|
|
Additions
|
5,274
|
3,850
|
-
|
10,500
|
19,624
|
|
|
|
Disposals
|
-
|
-
|
-
|
(
4,619)
|
(
4,619)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2019
|
309,694
|
33,419
|
18,570
|
69,966
|
431,649
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 April 2018
|
-
|
21,796
|
15,445
|
50,882
|
88,123
|
|
|
|
Charge for the year
|
-
|
2,818
|
1,665
|
7,263
|
11,746
|
|
|
|
Disposals
|
-
|
-
|
-
|
(
1,155)
|
(
1,155)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2019
|
-
|
24,614
|
17,110
|
56,990
|
98,714
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 March 2019
|
309,694
|
8,805
|
1,460
|
12,976
|
332,935
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
At 31 March 2018
|
304,420
|
7,773
|
3,125
|
13,203
|
328,521
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
Included within the above is investment property as follows:
|
|
£
|
|
At 1 April 2018
|
304,420
|
|
Additions
|
5,274
|
|
|
_______
|
|
|
_______
|
|
|
|
Investment properties were valued by the directors at 31 March 2019, who estimate that the fair value will not be significantly different to the cost of the properties.
6.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
126,807
|
82,966
|
|
Other debtors
|
|
111
|
5,138
|
|
|
|
_______
|
_______
|
|
|
|
126,918
|
88,104
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
11,000
|
11,000
|
|
Trade creditors
|
|
316,015
|
200,888
|
|
Corporation tax
|
|
21,370
|
29,066
|
|
Social security and other taxes
|
|
44,668
|
40,462
|
|
Other creditors
|
|
10,139
|
25,164
|
|
|
|
_______
|
_______
|
|
|
|
403,192
|
306,580
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The bank loans are secured by way of a charge over the assets of the company.
8.
Creditors: amounts falling due after more than one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
35,705
|
46,592
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The bank loans are secured by way of a charge over the assets of the company.
Included within creditors: amounts falling due after more than one year is an amount of £ 9,000
(2018 £ 15,000 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Directors advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Martin Hart
|
(
36)
|
(
382)
|
(
418)
|
|
|
|
|
Mrs Alison Hart
|
(
36)
|
(
382)
|
(
418)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
72)
|
(
764)
|
(
836)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the directors
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Mr Martin Hart
|
(
21)
|
(
15)
|
(
36)
|
|
|
|
|
Mrs Alison Hart
|
(
22)
|
(
15)
|
(37)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
43)
|
(
30)
|
(73)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
10.
Controlling party
The company is controlled by Martin and Alison Hart who own 100% of the issued share capital.