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REGISTERED NUMBER: 08863004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

MATT WELLS LIMITED

MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATT WELLS LIMITED

COMPANY INFORMATION
for the Year Ended 31st January 2023







DIRECTOR: M J Wells





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 08863004 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)

BALANCE SHEET
31st January 2023

31/1/23 31/1/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,997 2,867

CURRENT ASSETS
Debtors 5 14,196 19,675
Cash at bank 1,142 47
15,338 19,722
CREDITORS
Amounts falling due within one year 6 11,187 12,804
NET CURRENT ASSETS 4,151 6,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,148

9,785

CREDITORS
Amounts falling due after more than one
year

7

(6,428

)

(9,088

)

PROVISIONS FOR LIABILITIES 8 (569 ) (545 )
NET ASSETS 151 152

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 51 52
SHAREHOLDERS' FUNDS 151 152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)

BALANCE SHEET - continued
31st January 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th October 2023 and were signed by:





M J Wells - Director


MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2023

1. STATUTORY INFORMATION

Matt Wells Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st February 2022 4,990
Additions 1,628
At 31st January 2023 6,618
DEPRECIATION
At 1st February 2022 2,123
Charge for year 1,498
At 31st January 2023 3,621
NET BOOK VALUE
At 31st January 2023 2,997
At 31st January 2022 2,867

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Trade debtors 1,710 -
Directors' current accounts 12,486 16,270
Tax - 975
Prepayments and accrued income - 2,430
14,196 19,675

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/23 31/1/22
£    £   
Bank loans and overdrafts 2,660 5,127
Tax 7,133 6,663
Social security and other taxes 163 -
Accruals and deferred income 1,231 1,014
11,187 12,804

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/1/23 31/1/22
£    £   
Bank loans - 1-2 years 2,660 2,660
Bank loans - 2-5 years 3,768 6,428
6,428 9,088

MATT WELLS LIMITED (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2023

8. PROVISIONS FOR LIABILITIES
31/1/23 31/1/22
£    £   
Deferred tax 569 545

Deferred
tax
£   
Balance at 1st February 2022 545
Accelerated capital allowances 24
Balance at 31st January 2023 569

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/23 31/1/22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2023 and 31st January 2022:

31/1/23 31/1/22
£    £   
M J Wells
Balance outstanding at start of year 16,270 2,996
Amounts advanced 51,802 64,536
Amounts repaid (55,586 ) (51,262 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,486 16,270

The directors loan account is payable on demand, is unsecured and interest is being charged at the 2 percent.