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Registered Number: 10925814
England and Wales

 

 

 

MATERIAL GROUP LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2022

End date: 31 August 2023
Director Sean Luke Brosnan
Registered Number 10925814
Registered Office 54 Brassey Road
Winchester
United Kingdom
SO22 6SB
Accountants Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 August 2023.
Principal activities
Principal activity of the company during the financial year was of Market research and public opinion polling.
Director
The director who served the company throughout the year was as follows:
Sean Luke Brosnan
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Sean Luke Brosnan
Director

Date approved: 21 November 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Worth Knowing Accountants Ltd
31 August 2023



....................................................
Worth Knowing Accountants Ltd
7 Bell Yard
London
WC2A 2JR
21 November 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 352   
352   
Current assets      
Debtors 4 18,074    5,517 
Cash at bank and in hand 13,881    27,404 
31,955    32,921 
Creditors: amount falling due within one year 5 (17,028)   (16,375)
Net current assets 14,927    16,546 
 
Total assets less current liabilities 15,279    16,546 
Creditors: amount falling due after more than one year 6 (567)   (4,667)
Provisions for liabilities 7 (67)  
Net assets 14,645    11,879 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 14,644    11,878 
Shareholder's funds 14,645    11,879 
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 21 November 2023 and were signed by:


-------------------------------
Sean Luke Brosnan
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 September 2021 1  10,441  10,442 
Profit for the year 1,437  1,437 
Total comprehensive income for the year 1,437  1,437 
Total investments by and distributions to owners
At 31 August 2022 1  11,878  11,879 
At 01 September 2022 1  11,878  11,879 
Profit for the year 10,766  10,766 
Total comprehensive income for the year 10,766  10,766 
Dividends (8,000) (8,000)
Total investments by and distributions to owners (8,000) (8,000)
At 31 August 2023 1  14,644  14,645 
5
General Information
Material Group Limited is a private company, limited by shares, registered in England and Wales, registration number 10925814, registration address 54 Brassey Road, Winchester, United Kingdom, SO22 6SB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position 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 income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
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:
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 September 2022   100    100 
Additions 375      375 
Disposals    
At 31 August 2023 375    100    475 
Depreciation
At 01 September 2022   100    100 
Charge for year 23      23 
On disposals    
At 31 August 2023 23    100    123 
Net book values
Closing balance as at 31 August 2023 352      352 
Opening balance as at 01 September 2022    


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 18,074    5,517 
18,074    5,517 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Bank Loans & Overdrafts 1,600    1,600 
Corporation Tax 2,459    337 
Accrued Expenses 750    750 
Other Creditors 10,679    12,393 
Other creditors -2 493   
Directors' Current Accounts 443    1,023 
VAT 604    272 
17,028    16,375 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 567    4,667 
567    4,667 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 67   
67   

6