Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-02-01falseNo description of principal activity3034truetruefalse 09685028 2023-02-01 2024-01-31 09685028 2022-02-01 2023-01-31 09685028 2024-01-31 09685028 2023-01-31 09685028 c:Director1 2023-02-01 2024-01-31 09685028 c:Director2 2023-02-01 2024-01-31 09685028 c:RegisteredOffice 2023-02-01 2024-01-31 09685028 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 09685028 d:Buildings d:LongLeaseholdAssets 2024-01-31 09685028 d:Buildings d:LongLeaseholdAssets 2023-01-31 09685028 d:MotorVehicles 2023-02-01 2024-01-31 09685028 d:MotorVehicles 2024-01-31 09685028 d:MotorVehicles 2023-01-31 09685028 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09685028 d:FurnitureFittings 2023-02-01 2024-01-31 09685028 d:FurnitureFittings 2024-01-31 09685028 d:FurnitureFittings 2023-01-31 09685028 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09685028 d:OfficeEquipment 2023-02-01 2024-01-31 09685028 d:OfficeEquipment 2024-01-31 09685028 d:OfficeEquipment 2023-01-31 09685028 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09685028 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 09685028 d:OtherPropertyPlantEquipment 2024-01-31 09685028 d:OtherPropertyPlantEquipment 2023-01-31 09685028 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09685028 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09685028 d:Goodwill 2023-02-01 2024-01-31 09685028 d:Goodwill 2024-01-31 09685028 d:Goodwill 2023-01-31 09685028 d:CurrentFinancialInstruments 2024-01-31 09685028 d:CurrentFinancialInstruments 2023-01-31 09685028 d:Non-currentFinancialInstruments 2024-01-31 09685028 d:Non-currentFinancialInstruments 2023-01-31 09685028 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09685028 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09685028 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 09685028 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09685028 d:ShareCapital 2024-01-31 09685028 d:ShareCapital 2023-01-31 09685028 d:RetainedEarningsAccumulatedLosses 2024-01-31 09685028 d:RetainedEarningsAccumulatedLosses 2023-01-31 09685028 c:OrdinaryShareClass1 2023-02-01 2024-01-31 09685028 c:OrdinaryShareClass1 2024-01-31 09685028 c:OrdinaryShareClass1 2023-01-31 09685028 c:FRS102 2023-02-01 2024-01-31 09685028 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 09685028 c:FullAccounts 2023-02-01 2024-01-31 09685028 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09685028 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 09685028 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 09685028 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 09685028 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 09685028 2 2023-02-01 2024-01-31 09685028 6 2023-02-01 2024-01-31 09685028 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 09685028 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09685028










Matthew Paget Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 January 2024





 
Matthew Paget Limited
 

Company Information


Directors
Matthew Paget 
Sharon Paget 




Registered number
09685028



Registered office
37 St Margaret's Street

Canterbury

Kent

CT1 2TU




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
Matthew Paget Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 13


 
Matthew Paget Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Matthew Paget Limited for the year ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Matthew Paget Limited for the year ended 31 January 2024 which comprise  the Balance sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Matthew Paget Limited, as a body, in accordance with the terms of our engagement letter dated 24 May 2024Our work has been undertaken solely to prepare for your approval the financial statements of Matthew Paget Limited and state those matters that we have agreed to state to the Board of directors of Matthew Paget Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matthew Paget Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Matthew Paget Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Matthew Paget Limited. You consider that Matthew Paget Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Matthew Paget Limited. 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 financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
30 October 2024
Page 1

 
Matthew Paget Limited
Registered number: 09685028

Balance sheet
As at 31 January 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,000
10,000

Tangible assets
 5 
245,856
318,918

Fixed asset investments
  
40,000
40,000

  
291,856
368,918

Current assets
  

Stocks
  
257,655
526,381

Debtors: amounts falling due after more than one year
 7 
232,125
239,902

Debtors: amounts falling due within one year
 7 
47,156
60,871

Cash at bank and in hand
  
211,363
219,642

  
748,299
1,046,796

Creditors: amounts falling due within one year
 8 
(421,030)
(637,094)

Net current assets
  
 
 
327,269
 
 
409,702

Total assets less current liabilities
  
619,125
778,620

Creditors: amounts falling due after more than one year
 9 
(26,602)
(80,393)

Provisions for liabilities
  

Deferred tax
  
(40,280)
(58,546)

Other provisions
  
(16,000)
(16,000)

  
 
 
(56,280)
 
 
(74,546)

Net assets
  
536,243
623,681


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
536,143
623,581

  
536,243
623,681


Page 2

 
Matthew Paget Limited
Registered number: 09685028

Balance sheet (continued)
As at 31 January 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.




Matthew Paget
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

1.


General information

Matthew Paget Limited is a private limited company incorporated in England and Wales. 
The company's registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU. The principal place of business address is Old Deer Park, Twickenham Road, Richmond, TW9 2SB.
The financial statements are presented in pounds Sterling and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company’s trade, its customers and suppliers. However, taking into consideration the UK Government’s response and the company’s planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Page 4

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 6

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.11

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Property improvements
-
10%
Straight line
Motor vehicles
-
Fixtures and fittings
-
Office equipment
-
Other fixed assets
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 7

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

2.Accounting policies (continued)

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 34).

Page 8

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
40,000



At 31 January 2024

40,000



Amortisation


At 1 February 2023
30,000


Charge for the year on owned assets
4,000



At 31 January 2024

34,000



Net book value



At 31 January 2024
6,000



At 31 January 2023
10,000



Page 9

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

5.


Tangible fixed assets





Property improvements
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment

£
£
£
£
£



Cost or valuation


At 1 February 2023
255,824
61,035
18,187
25,796
139,242


Additions
-
-
-
986
732


Disposals
(1,266)
-
(4,487)
-
(5,554)



At 31 January 2024

254,558
61,035
13,700
26,782
134,420



Depreciation


At 1 February 2023
70,055
20,599
6,804
7,653
76,055


Charge for the year on owned assets
25,530
12,207
3,637
5,328
24,847


Disposals
(311)
-
(2,617)
-
(5,150)



At 31 January 2024

95,274
32,806
7,824
12,981
95,752



Net book value



At 31 January 2024
159,284
28,229
5,876
13,801
38,668



At 31 January 2023
185,769
40,436
11,383
18,143
63,187
Page 10

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

           5.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 February 2023
500,084


Additions
1,718


Disposals
(11,307)



At 31 January 2024

490,495



Depreciation


At 1 February 2023
181,166


Charge for the year on owned assets
71,549


Disposals
(8,078)



At 31 January 2024

244,637



Net book value



At 31 January 2024
245,858



At 31 January 2023
318,918

Finance leases

There are assets which have been purchased under lease within the company. 


6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 February 2023
40,000



At 31 January 2024
40,000




Page 11

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
232,125
239,902

232,125
239,902


2024
2023
£
£

Due within one year

Trade debtors
30,828
46,337

Prepayments and accrued income
16,328
14,534

47,156
60,871



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
25,680
36,735

Other loans
4,701
5,823

Trade creditors
258,451
453,126

Corporation tax
11,958
1,345

Other taxation and social security
85,048
94,469

Obligations under finance lease and hire purchase contracts
28,828
34,300

Other creditors
3,864
8,796

Accruals and deferred income
2,500
2,500

421,030
637,094



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,000
49,963

Net obligations under finance leases and hire purchase contracts
1,602
30,430

26,602
80,393


Page 12

 
Matthew Paget Limited
 

 
Notes to the financial statements
For the year ended 31 January 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
34,300

Between 1-5 years
-
30,430

-
64,730


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Director's remuneration paid by the company during the year was done so under normal market conditions.
During the year an interest-free loan was provided by the director. At the year end the amount outstanding was £0.00 (2023: £3,161.15).


13.


Controlling party

The company is controlled by Mr M and Mrs S Paget by virtue of their 100% shareholding.


Page 13