Chas.Mathews (Lapidaries) Limited 00426903 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Lapidiaries Digita Accounts Production Advanced 6.30.9574.0 true true 00426903 2023-01-01 2023-12-31 00426903 2023-12-31 00426903 bus:OrdinaryShareClass1 2023-12-31 00426903 bus:OrdinaryShareClass2 2023-12-31 00426903 core:CurrentFinancialInstruments 2023-12-31 00426903 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00426903 core:FurnitureFittingsToolsEquipment 2023-12-31 00426903 bus:SmallEntities 2023-01-01 2023-12-31 00426903 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00426903 bus:FilletedAccounts 2023-01-01 2023-12-31 00426903 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00426903 bus:RegisteredOffice 2023-01-01 2023-12-31 00426903 bus:Director1 2023-01-01 2023-12-31 00426903 bus:Director2 2023-01-01 2023-12-31 00426903 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 00426903 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 00426903 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00426903 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 00426903 core:PlantMachinery 2023-01-01 2023-12-31 00426903 countries:AllCountries 2023-01-01 2023-12-31 00426903 2022-12-31 00426903 core:FurnitureFittingsToolsEquipment 2022-12-31 00426903 2022-01-01 2022-12-31 00426903 2022-12-31 00426903 bus:OrdinaryShareClass1 2022-12-31 00426903 bus:OrdinaryShareClass2 2022-12-31 00426903 core:CurrentFinancialInstruments 2022-12-31 00426903 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00426903 core:FurnitureFittingsToolsEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00426903

Chas.Mathews (Lapidaries) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Chas.Mathews (Lapidaries) Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Chas.Mathews (Lapidaries) Limited

Company Information
__________________________________________________________________________

Directors

Peter Rome

John Taylor

Registered office

5 Hatton Garden
London
EC1N 8AA


 

Accountants

Brooks Green
Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Chas.Mathews (Lapidaries) Limited

(Registration number: 00426903)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

-

257

Current assets

 

Stocks

4

46,296

51,440

Debtors

5

37,012

-

Cash at bank and in hand

 

30,224

125,167

 

113,532

176,607

Creditors: Amounts falling due within one year

6

(9,227)

(30,277)

Net current assets

 

104,305

146,330

Net assets

 

104,305

146,587

Capital and reserves

 

Called up share capital

7

4,000

4,000

Retained earnings

100,305

142,587

Shareholders' funds

 

104,305

146,587

For the financial year ending 31 December 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 and the option not to file the Profit and Loss Account has been taken.

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

 

Chas.Mathews (Lapidaries) Limited

(Registration number: 00426903)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

.........................................
Peter Rome
Director

.........................................
John Taylor
Director

 

Chas.Mathews (Lapidaries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Chas.Mathews (Lapidaries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% RB

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 at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 and subsequently measured at amortised cost using the effective interest method.

 

Chas.Mathews (Lapidaries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Chas.Mathews (Lapidaries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

10,882

10,882

At 31 December 2023

10,882

10,882

Depreciation

At 1 January 2023

10,625

10,625

Charge for the year

257

257

At 31 December 2023

10,882

10,882

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

257

257

4

Stocks

2023
£

2022
£

Other inventories

46,296

51,440

5

Debtors

Current

2023
£

2022
£

Other debtors

37,012

-

 

37,012

-

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

900

-

Taxation and social security

5,753

10,210

Accruals and deferred income

2,574

14,448

Other creditors

-

5,619

9,227

30,277

 

Chas.Mathews (Lapidaries) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

A Ordinary shares of £1 each

3,000

3,000

3,000

3,000

4,000

4,000

4,000

4,000