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MAT TRADING LIMITED

Registered Number
10621544
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MAT TRADING LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

HE, Jianbing

Registered Address

Unit 2 Burnt Heath Farm Long Itchington Road
Offchurch
Leamington Spa
CV33 9AX

Registered Number

10621544 (England and Wales)
MAT TRADING LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks112,941164,024
Debtors347,93421,397
Cash at bank and on hand23,09825,031
183,973210,452
Creditors amounts falling due within one year4(252,419)(283,222)
Net current assets (liabilities)(68,446)(72,770)
Total assets less current liabilities(68,446)(72,770)
Net assets(68,446)(72,770)
Capital and reserves
Profit and loss account(68,446)(72,770)
Shareholders' funds(68,446)(72,770)
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2024, and are signed on its behalf by:
HE, Jianbing
Director
Registered Company No. 10621544
MAT TRADING LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables45,81121,397
Other debtors2,123-
Total47,93421,397
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables235,171260,862
Bank borrowings and overdrafts15,24815,248
Taxation and social security-7,112
Accrued liabilities and deferred income2,000-
Total252,419283,222