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REGISTERED NUMBER: 12017519 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Matt Timby Limited

Matt Timby Limited (Registered number: 12017519)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Matt Timby Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: M R Timby





REGISTERED OFFICE: c/o ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB





REGISTERED NUMBER: 12017519 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Matt Timby Limited (Registered number: 12017519)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 6,000
Tangible assets 5 14,582 19,049
19,582 25,049

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 6 894 9,274
Cash at bank 24,577 17,552
26,971 28,326
CREDITORS
Amounts falling due within one year 7 17,014 11,782
NET CURRENT ASSETS 9,957 16,544
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,539

41,593

CREDITORS
Amounts falling due after more than one
year

8

(8,160

)

(11,220

)

PROVISIONS FOR LIABILITIES (2,570 ) (3,375 )
NET ASSETS 18,809 26,998

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 18,659 26,848
18,809 26,998

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Matt Timby Limited (Registered number: 12017519)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 November 2024 and were signed by:





M R Timby - Director


Matt Timby Limited (Registered number: 12017519)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Matt Timby Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Matt Timby Limited (Registered number: 12017519)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,000
AMORTISATION
At 1 June 2023 4,000
Charge for year 1,000
At 31 May 2024 5,000
NET BOOK VALUE
At 31 May 2024 5,000
At 31 May 2023 6,000

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 13,200 15,800 1,436 30,436
DEPRECIATION
At 1 June 2023 6,309 4,167 911 11,387
Charge for year 1,034 2,908 525 4,467
At 31 May 2024 7,343 7,075 1,436 15,854
NET BOOK VALUE
At 31 May 2024 5,857 8,725 - 14,582
At 31 May 2023 6,891 11,633 525 19,049

Matt Timby Limited (Registered number: 12017519)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023
and 31 May 2024 15,300
DEPRECIATION
At 1 June 2023 (3,825 )
Charge for year 2,869
At 31 May 2024 (956 )
NET BOOK VALUE
At 31 May 2024 16,256
At 31 May 2023 19,125

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 834 8,108
Tax 60 1,166
894 9,274

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 3,060 3,060
Trade creditors 2,500 2,501
Tax 7,517 3,188
VAT 3,325 2,131
Directors' current accounts 12 302
Accrued expenses 600 600
17,014 11,782

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 8,160 11,220

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £34,300 were paid to the director .

10. ULTIMATE CONTROLLING PARTY

The controlling party is M R Timby.