IRIS Accounts Production v23.4.0.336 05582400 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh055824002022-12-31055824002023-12-31055824002023-01-012023-12-31055824002021-12-31055824002022-01-012022-12-31055824002022-12-3105582400ns15:EnglandWales2023-01-012023-12-3105582400ns14:PoundSterling2023-01-012023-12-3105582400ns10:Director12023-01-012023-12-3105582400ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105582400ns10:SmallEntities2023-01-012023-12-3105582400ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105582400ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105582400ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105582400ns10:AbridgedAccounts2023-01-012023-12-3105582400ns10:RegisteredOffice2023-01-012023-12-3105582400ns5:CurrentFinancialInstruments2023-12-3105582400ns5:CurrentFinancialInstruments2022-12-3105582400ns5:Non-currentFinancialInstruments2023-12-3105582400ns5:Non-currentFinancialInstruments2022-12-3105582400ns5:ShareCapital2023-12-3105582400ns5:ShareCapital2022-12-3105582400ns5:RetainedEarningsAccumulatedLosses2023-12-3105582400ns5:RetainedEarningsAccumulatedLosses2022-12-3105582400ns5:PlantMachinery2023-01-012023-12-3105582400ns5:MotorVehicles2023-01-012023-12-31
REGISTERED NUMBER: 05582400 (England and Wales)
























Mate Tooling Solutions Limited

Financial Statements for the Year Ended 31st December 2023






Mate Tooling Solutions Limited (Registered number: 05582400)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company information 1

Abridged balance sheet 2

Notes to the financial statements 4


Mate Tooling Solutions Limited

Company Information
for the Year Ended 31st December 2023







Director: Mr C Letty





Registered office: 37 Charter Gate
Quarry Park Close
Moulton Park Industrial Estate
Northampton
NN3 6QB





Registered number: 05582400 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Mate Tooling Solutions Limited (Registered number: 05582400)

Abridged Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 3 87,516 43,232

Current assets
Stocks 162,982 183,376
Debtors 256,468 319,839
Cash at bank 142,211 86,754
561,661 589,969
Creditors
Amounts falling due within one year 271,938 244,251
Net current assets 289,723 345,718
Total assets less current liabilities 377,239 388,950

Creditors
Amounts falling due after more than one
year

(17,394

)

-

Provisions for liabilities (6,668 ) (7,932 )
Net assets 353,177 381,018

Capital and reserves
Called up share capital 20,000 20,000
Retained earnings 333,177 361,018
353,177 381,018

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

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

Mate Tooling Solutions Limited (Registered number: 05582400)

Abridged Balance Sheet - continued
31st December 2023


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

All the members have consented to the preparation of an abridged Balance sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th March 2024 and were signed by:





Mr C Letty - Director


Mate Tooling Solutions Limited (Registered number: 05582400)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. 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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. Revenue is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% 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 Profit and loss account, 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.

Mate Tooling Solutions Limited (Registered number: 05582400)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


1. Accounting policies - continued

Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance change allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between the contributions payable and the contributions actually paid in the year are shown as either accruals or prepayments at the year end.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance change allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

2. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

Mate Tooling Solutions Limited (Registered number: 05582400)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


3. Tangible fixed assets
Totals
£   
Cost
At 1st January 2023 124,806
Additions 67,373
Disposals (39,966 )
At 31st December 2023 152,213
Depreciation
At 1st January 2023 81,574
Charge for year 16,569
Eliminated on disposal (33,446 )
At 31st December 2023 64,697
Net book value
At 31st December 2023 87,516
At 31st December 2022 43,232