Matte Black Surfacing Limited 12779934 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is Construction of roads and motorways Digita Accounts Production Advanced 6.30.9574.0 true 12779934 2022-08-01 2023-07-31 12779934 2023-07-31 12779934 bus:Director3 1 2023-07-31 12779934 bus:OrdinaryShareClass1 2023-07-31 12779934 bus:OrdinaryShareClass2 2023-07-31 12779934 bus:OrdinaryShareClass3 2023-07-31 12779934 bus:OrdinaryShareClass4 2023-07-31 12779934 core:RetainedEarningsAccumulatedLosses 2023-07-31 12779934 core:ShareCapital 2023-07-31 12779934 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 12779934 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 12779934 core:CurrentFinancialInstruments 2023-07-31 12779934 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12779934 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12779934 core:FurnitureFittingsToolsEquipment 2023-07-31 12779934 core:MotorVehicles 2023-07-31 12779934 bus:SmallEntities 2022-08-01 2023-07-31 12779934 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12779934 bus:FullAccounts 2022-08-01 2023-07-31 12779934 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12779934 bus:RegisteredOffice 2022-08-01 2023-07-31 12779934 bus:Director3 2022-08-01 2023-07-31 12779934 bus:Director3 1 2022-08-01 2023-07-31 12779934 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 12779934 bus:OrdinaryShareClass2 2022-08-01 2023-07-31 12779934 bus:OrdinaryShareClass3 2022-08-01 2023-07-31 12779934 bus:OrdinaryShareClass4 2022-08-01 2023-07-31 12779934 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12779934 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 12779934 core:MotorVehicles 2022-08-01 2023-07-31 12779934 core:OfficeEquipment 2022-08-01 2023-07-31 12779934 countries:England 2022-08-01 2023-07-31 12779934 2022-07-31 12779934 bus:Director3 1 2022-07-31 12779934 core:FurnitureFittingsToolsEquipment 2022-07-31 12779934 core:MotorVehicles 2022-07-31 12779934 2021-08-01 2022-07-31 12779934 2022-07-31 12779934 bus:OrdinaryShareClass1 2022-07-31 12779934 bus:OrdinaryShareClass2 2022-07-31 12779934 bus:OrdinaryShareClass3 2022-07-31 12779934 bus:OrdinaryShareClass4 2022-07-31 12779934 core:RetainedEarningsAccumulatedLosses 2022-07-31 12779934 core:ShareCapital 2022-07-31 12779934 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-07-31 12779934 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-07-31 12779934 core:CurrentFinancialInstruments 2022-07-31 12779934 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 12779934 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 12779934 core:FurnitureFittingsToolsEquipment 2022-07-31 12779934 core:MotorVehicles 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12779934

Matte Black Surfacing Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Matte Black Surfacing Limited

(Registration number: 12779934)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,366,958

738,683

Current assets

 

Debtors

5

1,488,778

749,787

Cash at bank and in hand

 

285,600

376,786

 

1,774,378

1,126,573

Creditors: Amounts falling due within one year

6

(1,389,361)

(759,308)

Net current assets

 

385,017

367,265

Total assets less current liabilities

 

1,751,975

1,105,948

Creditors: Amounts falling due after more than one year

6

(806,768)

(495,173)

Provisions for liabilities

(204,044)

(111,318)

Net assets

 

741,163

499,457

Capital and reserves

 

Called up share capital

8

103

103

Retained earnings

741,060

499,354

Shareholders' funds

 

741,163

499,457

 

Matte Black Surfacing Limited

(Registration number: 12779934)
Balance Sheet as at 31 July 2023

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 


Mr M Durnian
Director

   
 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 12779934

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% per annum straight line

Office equipment

20% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

Borrowings

 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 18 (2022 - 11).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

591,479

233,930

825,409

Additions

486,925

276,212

763,137

At 31 July 2023

1,078,404

510,142

1,588,546

Depreciation

At 1 August 2022

47,397

39,329

86,726

Charge for the year

83,714

51,148

134,862

At 31 July 2023

131,111

90,477

221,588

Carrying amount

At 31 July 2023

947,293

419,665

1,366,958

At 31 July 2022

544,082

194,601

738,683

5

Debtors

2023
£

2022
£

Trade debtors

1,127,471

625,981

Other debtors

247,936

21,830

Social security and other taxes

113,371

101,976

1,488,778

749,787

 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

370,246

217,149

Trade creditors

 

916,434

503,618

Social security and other taxes

 

37,364

23,220

Other creditors

 

65,317

15,321

 

1,389,361

759,308

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

806,768

495,173

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

370,246

217,149

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

806,768

495,173

The HP liabilities are secured against the assets to which they relate.

 

Matte Black Surfacing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

Ordinary C Share of £1 each

1

1

1

1

 

103

103

103

103

9

Related party transactions

Transactions with directors

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Mr M Durnian

-

4,050

4,050