IRIS Accounts Production v24.2.0.383 06834261 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh068342612023-03-31068342612024-03-31068342612023-04-012024-03-31068342612022-03-31068342612022-04-012023-03-31068342612023-03-3106834261ns15:EnglandWales2023-04-012024-03-3106834261ns14:PoundSterling2023-04-012024-03-3106834261ns10:Director12023-04-012024-03-3106834261ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106834261ns10:SmallEntities2023-04-012024-03-3106834261ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106834261ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106834261ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106834261ns10:FullAccounts2023-04-012024-03-310683426112023-04-012024-03-3106834261ns10:Director22023-04-012024-03-3106834261ns10:RegisteredOffice2023-04-012024-03-3106834261ns5:CurrentFinancialInstruments2024-03-3106834261ns5:CurrentFinancialInstruments2023-03-3106834261ns5:Non-currentFinancialInstruments2024-03-3106834261ns5:Non-currentFinancialInstruments2023-03-3106834261ns5:ShareCapital2024-03-3106834261ns5:ShareCapital2023-03-3106834261ns5:RetainedEarningsAccumulatedLosses2024-03-3106834261ns5:RetainedEarningsAccumulatedLosses2023-03-3106834261ns5:NetGoodwill2023-04-012024-03-3106834261ns5:PlantMachinery2023-04-012024-03-3106834261ns5:MotorVehicles2023-04-012024-03-3106834261ns5:NetGoodwill2023-03-3106834261ns5:NetGoodwill2024-03-3106834261ns5:NetGoodwill2023-03-3106834261ns5:PlantMachinery2023-03-3106834261ns5:MotorVehicles2023-03-3106834261ns5:PlantMachinery2024-03-3106834261ns5:MotorVehicles2024-03-3106834261ns5:PlantMachinery2023-03-3106834261ns5:MotorVehicles2023-03-3106834261ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106834261ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3106834261ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106834261ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106834261ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106834261ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3106834261ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3106834261ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106834261ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106834261ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3106834261ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-03-3106834261ns5:HirePurchaseContracts2024-03-3106834261ns5:HirePurchaseContracts2023-03-3106834261ns5:WithinOneYear2024-03-3106834261ns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 06834261 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MATFORD MANUFACTURING LIMITED

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATFORD MANUFACTURING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Langford
T J Matyus





REGISTERED OFFICE: 2 Short Street
Premier Business Park
Walsall
WS2 9EB





REGISTERED NUMBER: 06834261 (England and Wales)






MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 53,433 60,882
53,433 60,882

CURRENT ASSETS
Stocks 48,500 44,710
Debtors 5 301,697 258,988
Cash at bank and in hand 51,037 21,095
401,234 324,793
CREDITORS
Amounts falling due within one year 6 507,456 476,760
NET CURRENT LIABILITIES (106,222 ) (151,967 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,789

)

(91,085

)

CREDITORS
Amounts falling due after more than one
year

7

(7,636

)

(16,791

)

PROVISIONS FOR LIABILITIES (10,152 ) (11,567 )
NET LIABILITIES (70,577 ) (119,443 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (70,579 ) (119,445 )
SHAREHOLDERS' FUNDS (70,577 ) (119,443 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





A Langford - Director


MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


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.

Whilst the company had net liabilities at the year end, the directors confirm that the company continues to receive ongoing support from its creditors and hence they believe that the going concern basis remains appropriate for the preparation of the financial statements.

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 arising on incorporation of the business represents any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired.

Goodwill is being amortised to profit and loss account over ten years, being the best estimate of its useful economic life. Provision is made for an impairment.

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 cost
Motor vehicles - 25% on cost

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

Current and deferred taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


1. 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 460,071 68,986 529,057
Additions 1,166 - 1,166
At 31 March 2024 461,237 68,986 530,223
DEPRECIATION
At 1 April 2023 448,132 20,043 468,175
Charge for year 2,629 5,986 8,615
At 31 March 2024 450,761 26,029 476,790
NET BOOK VALUE
At 31 March 2024 10,476 42,957 53,433
At 31 March 2023 11,939 48,943 60,882

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 340,000
DEPRECIATION
At 1 April 2023
and 31 March 2024 340,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 273,507 251,107
Other debtors 28,190 7,881
301,697 258,988

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 264,364 266,790
Hire purchase contracts (see note 9) 4,000 4,000
Trade creditors 134,420 131,441
Taxation and social security 45,202 23,487
Other creditors 59,470 51,042
507,456 476,760

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) - 5,000
Hire purchase contracts (see note 9) 7,636 11,791
7,636 16,791

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 221,031 208,457
Bank loans 43,333 58,333
264,364 266,790

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,000

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 4,000 4,000
Between one and five years 7,636 11,791
11,636 15,791

MATFORD MANUFACTURING LIMITED (REGISTERED NUMBER: 06834261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 18,200 18,200

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 11,636 15,791

Other loans at the year end are secured on the assets of the company.

Amounts due in respect of hire purchase agreements are secured on the asset to which they relate.

11. RELATED PARTY DISCLOSURES

A P Langford and T J Matyus, the directors, control the company by virtue of being equal majority shareholders.

At the year end the company was due £16,313 (2023: £5,500) from Matford Services Limited.