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REGISTERED NUMBER: 04946063 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

MATTHEW THICKETT LTD

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATTHEW THICKETT LTD

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTOR: M C Thickett





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





REGISTERED NUMBER: 04946063 (England and Wales)





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

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

BALANCE SHEET
31st March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 75,787 73,386
75,787 73,386

CURRENT ASSETS
Stocks - 7,900
Debtors 6 - 21,299
Cash at bank 8,549 23,126
8,549 52,325
CREDITORS
Amounts falling due within one year 7 44,888 58,902
NET CURRENT LIABILITIES (36,339 ) (6,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,448

66,809

CREDITORS
Amounts falling due after more than one
year

8

(24,144

)

(30,526

)

PROVISIONS FOR LIABILITIES 10 (8,346 ) (11,435 )
NET ASSETS 6,958 24,848

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 6,956 24,846
SHAREHOLDERS' FUNDS 6,958 24,848

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

BALANCE SHEET - continued
31st March 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 20th November 2023 and were signed by:





M C Thickett - Director


MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

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

1. STATUTORY INFORMATION

Matthew Thickett Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of seven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022 7,000
Disposals (7,000 )
At 31st March 2023 -
AMORTISATION
At 1st April 2022 7,000
Eliminated on disposal (7,000 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2022 - 81,500 5,028 21,000 107,528
Additions 17,200 1,445 - - 18,645
Disposals - - (5,028 ) (21,000 ) (26,028 )
At 31st March 2023 17,200 82,945 - - 100,145
DEPRECIATION
At 1st April 2022 - 9,892 4,505 19,745 34,142
Charge for year - 14,466 - - 14,466
Eliminated on disposal - - (4,505 ) (19,745 ) (24,250 )
At 31st March 2023 - 24,358 - - 24,358
NET BOOK VALUE
At 31st March 2023 17,200 58,587 - - 75,787
At 31st March 2022 - 71,608 523 1,255 73,386

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st April 2022
and 31st March 2023 65,000
DEPRECIATION
At 1st April 2022
and 31st March 2023 9,750
NET BOOK VALUE
At 31st March 2023 55,250
At 31st March 2022 55,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors - 3,120
Tax - 7,610
VAT - 10,334
Prepayments - 235
- 21,299

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 1,592 1,615
Hire purchase contracts 4,714 4,714
Trade creditors 330 15,428
Social security and other taxes 1,383 -
Directors' current accounts 35,740 35,495
Accrued expenses 1,129 1,650
44,888 58,902

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans - 1-2 years 1,592 1,615
Bank loans - 2-5 years 2,123 3,768
Hire purchase contracts 20,429 25,143
24,144 30,526

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Hire purchase contracts 25,143 29,857

The hire purchase liabilities are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
£    £   
Deferred tax 8,346 11,435

Deferred
tax
£   
Balance at 1st April 2022 11,435
Credit to Statement of Income and Retained Earnings during year (3,089 )
Balance at 31st March 2023 8,346

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
2 Ordinary £1 2 2

MATTHEW THICKETT LTD (REGISTERED NUMBER: 04946063)

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

12. ULTIMATE CONTROLLING PARTY

Mr M C Thickett owns 100% of the issued share capital of the company.