H & J Martin Construction Limited - Accounts to registrar (filleted) - small 23.2.5

H & J Martin Construction Limited - Accounts to registrar (filleted) - small 23.2.5

H & J MARTIN CONSTRUCTION LIMITED - Company Information

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REGISTERED NUMBER: NI020288 (Northern Ireland)















H & J MARTIN CONSTRUCTION LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023





CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP








H & J MARTIN CONSTRUCTION LIMITED (REGISTERED NUMBER: NI020288)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


H & J MARTIN CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Malachy Joseph Hughes
Gareth Moore
David Ramsey





SECRETARY: Dermott Agnew





REGISTERED OFFICE: Rosemount House
21-23 Sydenham Road
Belfast
BT3 9HA





REGISTERED NUMBER: NI020288 (Northern Ireland)





INDEPENDENT AUDITORS: CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
1
H & J MARTIN CONSTRUCTION LIMITED (REGISTERED NUMBER: NI020288)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £ £
CURRENT ASSETS
Receivables: amounts falling due within
one year
5
2,630,489
3,485,408
Cash at bank 867,170 290,500
3,497,659 3,775,908
PAYABLES
Amounts falling due within one year 6 (3,116,966 ) (2,707,589 )
NET CURRENT ASSETS 380,693 1,068,319
TOTAL ASSETS LESS CURRENT
LIABILITIES
380,693
1,068,319

CAPITAL AND RESERVES
Called up share capital 2,906,898 2,906,898
Retained earnings (2,526,205 ) (1,838,579 )
380,693 1,068,319

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by:





Gareth Moore - Director


The notes form part of these financial statements

2
H & J MARTIN CONSTRUCTION LIMITED (REGISTERED NUMBER: NI020288)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

H.&J. Martin Construction Limited is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Rosemount House, 21-23 Sydenham Road, Belfast, BT3 9HA.

The principal activity of the company is that of a construction company.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Related parties are deemed to be related by virtue of common ultimate controlling persons.

Revenue
Turnover represents net invoices sales of goods and services , excluding value added tax. The majority of turnover is on long term contracts. These contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs by reference to the stage of completion at the reporting date. Where the outcome of each long-term contract can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profits and loss account as the difference between the reported turnover and related costs for that contract. Provision is made for all known or expected losses.

Long term contracts
Turnover on long term contracts is recognised according to the stage reached in the contract by reference to the value of work done. A prudent estimate of the profit attributable to work completed is recognised once the outcome of the contract can be assessed with reasonable certainty. The amount by which turnover exceeds payments on account is shown under debtors as amount recoverable on contracts. Where payments on account exceed turnover these are shown under creditors as payments received on account.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


3
H & J MARTIN CONSTRUCTION LIMITED (REGISTERED NUMBER: NI020288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued
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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Dividends
Dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at an annual general meeting.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Finance costs
Finance costs are charged to the Income Statement over the term of the debt.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to in the income statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

4
H & J MARTIN CONSTRUCTION LIMITED (REGISTERED NUMBER: NI020288)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 516,775 399,422
Amounts owed by group undertakings 343,527 396,968
Amounts owed by related parties 583,142 2,092,202
Amounts recoverable on contract 1,051,069 558,614
Other debtors 135,976 38,202
2,630,489 3,485,408

6. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade payables 1,011,858 1,543,417
Amounts owed to group undertakings 44,392 57,576
Taxation and social security 60,026 51,318
Other payables 2,000,690 1,055,278
3,116,966 2,707,589

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)
for and on behalf of CavanaghKelly

8. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption not to disclose any transactions with its parent or fellow 100% owned subsidiary undertakings on the grounds that it is a 100% owned subsidiary.

During the year, the company made sales of £6,587,959 (2022:£5,968,714) to entities related by virtue of common ultimate controlling persons.

At the year end there were amounts owed by related parties of £583,142 (2022:£2,092,202) as disclosed within note 5.

No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1 A.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the Lagan family.

5