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Registration number: 04575000

Grant Matthewson Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Grant Matthewson Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Grant Matthewson Limited

Registration number: 04575000

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,133

3,199

Tangible assets

5

19,566

19,818

 

21,699

23,017

Current assets

 

Debtors

6

161,933

106,245

Cash at bank and in hand

 

99,404

96,802

 

261,337

203,047

Creditors: Amounts falling due within one year

7

(118,076)

(111,520)

Net current assets

 

143,261

91,527

Total assets less current liabilities

 

164,960

114,544

Provisions for liabilities

(5,185)

(3,765)

Net assets

 

159,775

110,779

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

159,675

110,679

Total equity

 

159,775

110,779



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Grant Matthewson Limited

Registration number: 04575000

Balance Sheet as at 31 March 2024 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 November 2024 and signed on its behalf by:
 

W S Gallop FCCA
Director

L-J Gallop FCCA
Director

 
     

 

Grant Matthewson Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Grant Matthewson Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Goodwill

Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet
and amortised on a straight line basis over its useful life. Under FRS 102 the period for writing off
goodwill with no definitive useful life is 10 years and this will be applied from 1 April 2016. This is a
change from the 15 years previously used under FRS10. No retrospective adjustment has been made
in respect of this change to accounting estimate. Provision is made for any impairment.

 

Grant Matthewson Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

80,000

80,000

At 31 March 2024

80,000

80,000

Amortisation

At 1 April 2023

76,801

76,801

Amortisation charge

1,066

1,066

At 31 March 2024

77,867

77,867

Carrying amount

At 31 March 2024

2,133

2,133

At 31 March 2023

3,199

3,199

 

Grant Matthewson Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

44,444

44,444

Additions

3,513

3,513

Disposals

(4,411)

(4,411)

At 31 March 2024

43,546

43,546

Depreciation

At 1 April 2023

24,626

24,626

Charge for the year

3,480

3,480

Eliminated on disposal

(4,126)

(4,126)

At 31 March 2024

23,980

23,980

Carrying amount

At 31 March 2024

19,566

19,566

At 31 March 2023

19,818

19,818

6

Debtors

Current

2024
£

2023
£

Trade debtors

80,793

70,570

Prepayments

10,116

10,431

Other debtors

71,024

25,244

 

161,933

106,245

 

Grant Matthewson Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

6

Debtors (continued)

The amounts owed to the company at the year-end in respect of the directors’ loans was £19,814 and is included in other debtors. The loans were interest free, and it is company policy to charge interest on all overdrawn loan accounts at HM Revenue & Customs official rate of interest if greater than £10,000.

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

8,302

9,732

Taxation and social security

 

80,784

70,428

Other creditors

 

28,990

31,360

 

118,076

111,520

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

45

45

45

45

B Ordinary of £1 each

2

2

2

2

C Ordinary of £1 each

2

2

2

2

D Ordinary of £1 each

5

5

5

5

E Ordinary of £1 each

46

46

46

46

100

100

100

100