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Registration number: 09355612

Mattock Lane Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 December 2023

 

Mattock Lane Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Mattock Lane Ltd

Company Information

Director

Mr A R Ajram

Registered office

The Cottage
Stoke Grange
Fir Tree Avenue
Slough
Berkshire
SL2 4NN

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mattock Lane Ltd
for the Year Ended 29 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mattock Lane Ltd for the year ended 29 December 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Mattock Lane Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mattock Lane Ltd and state those matters that we have agreed to state to the Board of Directors of Mattock Lane Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mattock Lane Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mattock Lane Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mattock Lane Ltd. You consider that Mattock Lane Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mattock Lane Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

16 September 2024

 

Mattock Lane Ltd

(Registration number: 09355612)
Balance Sheet as at 29 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,090,514

989,274

Current assets

 

Debtors

5

1,408,903

1,480,836

Cash at bank and in hand

 

356

9,483

 

1,409,259

1,490,319

Creditors: Amounts falling due within one year

6

(2,196,791)

(2,175,213)

Net current liabilities

 

(787,532)

(684,894)

Total assets less current liabilities

 

302,982

304,380

Creditors: Amounts falling due after more than one year

6

(1,010,465)

(1,169,956)

Net liabilities

 

(707,483)

(865,576)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(707,583)

(865,676)

Shareholders' deficit

 

(707,483)

(865,576)

For the financial year ending 29 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 September 2024
 

 

Mattock Lane Ltd

(Registration number: 09355612)
Balance Sheet as at 29 December 2023

.........................................
Mr A R Ajram
Director

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

1

General information

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

The address of its registered office is:
The Cottage
Stoke Grange
Fir Tree Avenue
Slough
Berkshire
SL2 4NN

These financial statements were authorised for issue by the director on 16 September 2024.

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.

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.

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.

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

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.

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:

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.

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.

Borrowings

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 30 December 2022

989,274

989,274

Additions

103,000

103,000

At 29 December 2023

1,092,274

1,092,274

Depreciation

Charge for the year

1,760

1,760

At 29 December 2023

1,760

1,760

Carrying amount

At 29 December 2023

1,090,514

1,090,514

At 29 December 2022

989,274

989,274

Included within the net book value of land and buildings above is £1,090,514 (2022 - £989,274) in respect of freehold land and buildings.
 

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

63,905

-

Amounts owed by related parties

1,330,500

1,455,140

Prepayments

 

14,498

25,696

   

1,408,903

1,480,836

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

-

Trade creditors

 

3,355

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,119,171

2,104,411

Taxation and social security

 

45,940

23,320

Accruals and deferred income

 

14,959

28,432

Other creditors

 

3,366

19,050

 

2,196,791

2,175,213

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,010,465

1,169,956

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,833

35,833

Other borrowings

994,632

1,134,123

1,010,465

1,169,956

Current loans and borrowings

 

Mattock Lane Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 December 2023

2023
£

2022
£

Bank borrowings

10,000

-