Registered number
07203080
Matcon Civil Engineering & Groundworks Limited
Filleted Accounts
31 March 2024
Matcon Civil Engineering & Groundworks Limited
Registered number: 07203080
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 184,324 194,144
Current assets
Debtors 4 388,839 462,032
Cash at bank and in hand 54,152 76,079
442,991 538,111
Creditors: amounts falling due within one year 5 (324,850) (429,421)
Net current assets 118,141 108,690
Total assets less current liabilities 302,465 302,834
Creditors: amounts falling due after more than one year 6 (128,052) (237,348)
Provisions for liabilities (46,081) (48,108)
Net assets 128,332 17,378
Capital and reserves
Called up share capital 10 10
Profit and loss account 128,322 17,368
Shareholder's funds 128,332 17,378
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jonathan Mathias
Director
Approved by the board on 6 November 2024
Matcon Civil Engineering & Groundworks Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery etc over 10 years
Tools and equipment etc over 10 years
Motor vehicles over 10 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 12
3 Tangible fixed assets
Plant and machinery Tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 140,932 10,053 188,694 339,679
Additions 7,754 - 47,240 54,994
Disposals - - (48,005) (48,005)
At 31 March 2024 148,686 10,053 187,929 346,668
Depreciation
At 1 April 2023 54,821 5,937 84,777 145,535
Charge for the year 14,869 1,005 18,793 34,667
On disposals - - (17,858) (17,858)
At 31 March 2024 69,690 6,942 85,712 162,344
Net book value
At 31 March 2024 78,996 3,111 102,217 184,324
At 31 March 2023 86,111 4,116 103,917 194,144
4 Debtors 2024 2023
£ £
Trade debtors 236,836 356,474
Directors loan account 88,972 71,877
Other debtors 63,031 33,681
388,839 462,032
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 46,537 -
Obligations under finance lease and hire purchase contracts 18,150 25,333
Trade creditors 158,142 211,881
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,223 -
Taxation and social security costs 97,413 189,088
Other creditors 2,385 3,119
324,850 429,421
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 68,120 167,314
Obligations under finance lease and hire purchase contracts 59,932 70,034
128,052 237,348
7 Other information
Matcon Civil Engineering & Groundworks Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Trevithick
Beech Grove Gardens
Troedyrhiw
Merthyr Tydfil
CF48 4LH
8 Controlling party
The company is controlled by the director who each owns 100% of the issued share capital.
9 Presentation currency
The financial statements are presented in Sterling and rounded to the nearest £1.
10 Transactions with Directors
During the year the following transactions took place with the directors loan account.
Balance as at 1 April 2023 71,876
Transfers out and private payments made 88,972
Dividends taken throughout the year (71,876)
Balance as at 31 March 2024 88,972
The loan account is interest free and repayable on demand.
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