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Registered number: 8330106
Matse Builders Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Steiner & Co.
50 Cowick Street
Exeter
Devon
EX4 1AP
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8330106
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 27,519 35,530
27,519 35,530
CURRENT ASSETS
Stocks 5 4,000 -
Debtors 6 49,914 44,859
Cash at bank and in hand 1,712 19,325
55,626 64,184
Creditors: Amounts Falling Due Within One Year 7 (61,499 ) (46,954 )
NET CURRENT ASSETS (LIABILITIES) (5,873 ) 17,230
TOTAL ASSETS LESS CURRENT LIABILITIES 21,646 52,760
Creditors: Amounts Falling Due After More Than One Year 8 (13,717 ) (27,148 )
NET ASSETS 7,929 25,612
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 7,829 25,512
SHAREHOLDERS' FUNDS 7,929 25,612
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr C Watson
Director
10th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Matse Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8330106 . The registered office is 50 Cowick Street, Exeter, Devon, EX4 1AP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
Computer Equipment 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
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Page 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 6,119 43,710 978 50,807
Additions - - 800 800
As at 31 December 2023 6,119 43,710 1,778 51,607
Depreciation
As at 1 January 2023 4,319 10,710 248 15,277
Provided during the period 181 8,250 380 8,811
As at 31 December 2023 4,500 18,960 628 24,088
Net Book Value
As at 31 December 2023 1,619 24,750 1,150 27,519
As at 1 January 2023 1,800 33,000 730 35,530
5. Stocks
2023 2022
£ £
Work in progress 4,000 -
6. Debtors
2023 2022
£ £
Due within one year
Other debtors - Matse Ltd 44,864 44,859
CIS suffered 5,050 -
49,914 44,859
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 10,070 10,909
Trade creditors (1,887 ) 752
Corporation tax 76 76
Other taxes and social security 204 204
Accruals and deferred income 1,450 -
Director's loan account 51,586 35,013
61,499 46,954
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 2,517 11,748
Bank loans 11,200 15,400
13,717 27,148
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,070 10,909
Later than one year and not later than five years 2,517 11,748
12,587 22,657
12,587 22,657
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within credtors is the following loan by the director to the company:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr C Watson 35,013 17,706 34,675 - 51,982
The above loan is unsecured, and repayable on demand.
Dividends paid to directors
2023 2022
£ £
Mr C Watson 10,000 10,000
12. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 5,000 5,000
Final dividend paid 5,000 5,000
10,000 10,000
13. Related Party Transactions
During the year the company was charged £5,148 (£7,920 2022) by the director for office and storage facilities.
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