5983623falsethe sale of machine parts2022-12-012023-11-30http://www.companieshouse.gov.uk/2022-11-30http://www.companieshouse.gov.uk/pt:ShareCapital2022-11-30http://www.companieshouse.gov.uk/cd:Director12022-12-012023-11-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-11-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12022-12-012023-11-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-12-012023-11-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-12-012023-11-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-11-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-11-30http://www.companieshouse.gov.uk/2022-12-012023-11-30http://www.companieshouse.gov.uk/2022-11-30http://www.companieshouse.gov.uk/cd:FRS1022022-12-012023-11-30http://www.companieshouse.gov.uk/2023-11-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-12-012023-11-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-12-012023-11-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 5983623

Matparts Ltd

FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30/11/2023

Prepared By:
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

Matparts Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30/11/2023
DIRECTORS
P Rodgers
REGISTERED OFFICE
Newline Industrial Estate
The Sidings
Bacup
OL13 9RW
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 5983623
ACCOUNTANTS
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

Matparts Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THEYEARENDED30/11/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Matparts Ltd

BALANCE SHEET AT 30/11/2023
20232022
Notes££
FIXED ASSETS
Tangible assets350,43748,882
Investment Assets47,1437,143
57,58056,025
CURRENT ASSETS
Stock102,222129,822
Debtors6417,705132,382
Cash at bank and in hand472,740832,413
992,6671,094,617
CREDITORS: Amounts falling due within one year7332,269311,129
NET CURRENT ASSETS660,398783,488
TOTAL ASSETS LESS CURRENT LIABILITIES717,978839,513
CREDITORS: Amounts falling due after more than one year879,167129,167
PROVISIONS FOR LIABILITIES AND CHARGES93,1635,282
NET ASSETS635,648705,064
CAPITAL AND RESERVES
Called up share capital10100100
Profit and loss account635,548704,964
SHAREHOLDERS' FUNDS635,648705,064
For the year ending 30/11/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 28/08/2024 and signed on their behalf by
.............................
P Rodgers
Director

Matparts Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/11/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinerystraight line 20%
Fixtures and Fittingsstraight line 15%
Websitesstraight line 10%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Matparts Ltd

1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1f. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
1g. Investments
Fixed asset investments are shown at cost as the director considers this to be a fair valuation for the investment.
1h. Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
2. EMPLOYEES
20232022
No.No.
Average number of employees66
3. TANGIBLE FIXED ASSETS
Plant and MachineryFixtures, Fittings and EquipmentWebsitesMotor Vehicles
Total
£££££
Cost
At 01/12/202233,080123,39449,69086,613292,777
Additions4831,476-18,45720,416
At 30/11/202333,563124,87049,690105,070313,193
Depreciation
At 01/12/202217,150115,65249,69061,403243,895
For the year4,5973,347-10,91718,861
At 30/11/202321,747118,99949,69072,320262,756
Net Book Amounts
At 30/11/202311,8165,871-32,75050,437
At 30/11/202215,9307,742-25,21048,882

Matparts Ltd

4. FINANCIAL ASSETS
Other
InvestmentsTotal
££
Cost
At 01/12/20227,1437,143
At 30/11/20237,1437,143
Amortisation
Net Book Amounts
At 30/11/20237,1437,143
At 30/11/20227,1437,143
The investment represents a investment in Sew Hop'd Brewery LLC, a limited liability company registered in the USA.
The investment has not been revalued during the period and is included in the accounts at cost, as the director believes this is a fair value for the investment..
5. STOCK 20232022
££
Stock comprises:
Stock102,222129,822
102,222129,822
6. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors80,89087,999
VAT-5,575
Other debtors - MPT Group-684
Amounts due Castomar Properties Ltd331,27321,273
Amounts due Dielex Ltd-6,865
Amounts due Union Special UK Ltd-4,918
Prepayments5,5425,068
417,705132,382

Matparts Ltd

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax18,61711,286
VAT864-
PAYE control2,7312,027
Nest control account120-
Amounts due Dielex Ltd31,523-
Amounts due Union Special UK Ltd15,201-
Bank Loan50,00050,000
Credit card2,11027
Trade creditors192,660239,105
Accruals18,4438,684
332,269311,129
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans >1 year79,167129,167
79,167129,167
9. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation3,1635,282
3,1635,282
10. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100

Matparts Ltd

11. CONTROLLING PARTY
The company is controlled by its director by virtue of the fact that he owns 90% of the issued share capital.
12. RELATED PARTY TRANSACTIONS
P Rodgers is a shareholder in MPT Group Matress Machinery Ltd. During the year Matparts Limited sold goods and services to the value of £ 16,980. The company also purchased goods and services to the value of £665 from that company. P Rodgers is a trustee of MPT Group Pensions Scheme. Matparts Ltd was charged rent of £9,500 during the year (2022 £9,500).
P Rodgers is a shareholder and director in Dielex Limited during the year matparts paid a consultancy fee of £21,000 ( 2022: £21,000). The company paid sales commission to Union Special Limited of £20,099 (2022:£13,713), a company in which Mr P Rodgers is a director and shareholder. Matparts Ltd also advanced monies to Castomar Properties Ltd, a company in which Mr Rodgers is a director, the balance outstanding at the year end was £331,273 (2022 £21,273).