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REGISTERED NUMBER: 10830249 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MATIC CONSTRUCTION LTD

MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MATIC CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs N J Riley
M J Riley





SECRETARY: Mrs N J Riley





REGISTERED OFFICE: 95 Saffron Close Royal Wootton Bassett
Swindon
United Kingdom
SN4 7JD





REGISTERED NUMBER: 10830249 (England and Wales)





ACCOUNTANTS: Nigel B Butler Limited
Basepoint Business Centre
Rivermead Drive
Swindon
Wiltshire
SN5 7EX

MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)

ABRIDGED BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 122,962 73,919

CURRENT ASSETS
Stocks 1,380 1,870
Debtors 70,001 52,789
Cash at bank 32,228 10,614
103,609 65,273
CREDITORS
Amounts falling due within one year 105,225 95,409
NET CURRENT LIABILITIES (1,616 ) (30,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,346

43,783

CREDITORS
Amounts falling due after more than one
year

-

(14,000

)

PROVISIONS FOR LIABILITIES (23,074 ) (13,749 )
NET ASSETS 98,272 16,034

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 98,172 15,934
SHAREHOLDERS' FUNDS 98,272 16,034

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

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

The directors acknowledge their 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.

MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2024 and were signed on its behalf by:




M J Riley - Director



Mrs N J Riley - Director


MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Matic Construction Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% on cost
Plant and machinery - 50% on cost and 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% 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 Statement of Income and Retained Earnings, 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.


MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

MATIC CONSTRUCTION LTD (REGISTERED NUMBER: 10830249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 166,359
Additions 71,932
At 31 March 2024 238,291
DEPRECIATION
At 1 April 2023 92,440
Charge for year 22,889
At 31 March 2024 115,329
NET BOOK VALUE
At 31 March 2024 122,962
At 31 March 2023 73,919

5. RELATED PARTY DISCLOSURES

During the year, total dividends of £24,140 (2023 - £23,952) were paid to the directors .

6. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J Riley.