M.A.T. ELECTRICS LIMITED

Company Registration Number:
03536531 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

M.A.T. ELECTRICS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

M.A.T. ELECTRICS LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 34,413 42,938
Total fixed assets: 34,413 42,938
Current assets
Stocks: 48,230 43,442
Debtors:   331,996 486,133
Cash at bank and in hand: 15,087 84
Total current assets: 395,313 529,659
Creditors: amounts falling due within one year:   (188,703) (344,901)
Net current assets (liabilities): 206,610 184,758
Total assets less current liabilities: 241,023 227,696
Creditors: amounts falling due after more than one year:   (15,842) (29,538)
Provision for liabilities: (3,012) (3,985)
Total net assets (liabilities): 222,169 194,173
Capital and reserves
Called up share capital: 1,000 1,000
Profit and loss account: 221,169 193,173
Shareholders funds: 222,169 194,173

The notes form part of these financial statements

M.A.T. ELECTRICS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 November 2024
and signed on behalf of the board by:

Name: Mr T Jones
Status: Director

The notes form part of these financial statements

M.A.T. ELECTRICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant & Machinery-15% reducing balance Motor Vehicles-25% reducing balance Office Equipment-15% reducing balance

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Other accounting policies

a) The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. b) Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income. c) Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

M.A.T. ELECTRICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 17 17

M.A.T. ELECTRICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 232,087
Additions 1,905
Disposals (20,667)
At 31 March 2024 213,325
Depreciation
At 01 April 2023 189,149
Charge for year 9,438
On disposals (19,675)
At 31 March 2024 178,912
Net book value
At 31 March 2024 34,413
At 31 March 2023 42,938

M.A.T. ELECTRICS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Loans to directors

Mr Jones' director's loan account remained overdrawn in the year. The maximum indebtedness in this respect was the opening balance of £42,639 and the account was overdrawn by £7,670 at the year-end. Interest at the Official Rate is applied to overdrawn loan accounts for tax purposes.