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REGISTERED NUMBER: 09730526 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MATTHEW LEE JOINERY LTD

MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MATTHEW LEE JOINERY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: M Lee





SECRETARY: Mrs L A Garner





REGISTERED OFFICE: The Workshop
West Moneylaws
Cornhill on Tweed
Northumberland
TD12 4QD





REGISTERED NUMBER: 09730526 (England and Wales)





ACCOUNTANTS: J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MATTHEW LEE JOINERY LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Matthew Lee Joinery Ltd for the year ended 30 September 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Matthew Lee Joinery Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Matthew Lee Joinery Ltd and state those matters that we have agreed to state to the director of Matthew Lee Joinery Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matthew Lee Joinery Ltd and its director for our work or for this report.

It is your duty to ensure that Matthew Lee Joinery Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Matthew Lee Joinery Ltd. You consider that Matthew Lee Joinery Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Matthew Lee Joinery Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






J.H. Greenwood & Company
Chartered Accountants
Ava Lodge
Castle Terrace
Berwick Upon Tweed
Northumberland
TD15 1NP


5 December 2024

MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)

BALANCE SHEET
30 SEPTEMBER 2024

30/9/24 30/9/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 535,357 546,709
Investment property 5 330,597 330,597
865,954 877,306

CURRENT ASSETS
Stocks 113,592 120,816
Debtors 6 288,569 166,329
Cash at bank 207,508 116,648
609,669 403,793
CREDITORS
Amounts falling due within one year 7 564,831 635,942
NET CURRENT ASSETS/(LIABILITIES) 44,838 (232,149 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,792

645,157

CREDITORS
Amounts falling due after more than one
year

8

(472,322

)

(281,597

)

PROVISIONS FOR LIABILITIES (81,235 ) (63,139 )
NET ASSETS 357,235 300,421

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 357,225 300,411
SHAREHOLDERS' FUNDS 357,235 300,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)

BALANCE SHEET - continued
30 SEPTEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 December 2024 and were signed by:





M Lee - Director


MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Matthew Lee Joinery 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.
Freehold property - Straight line over 25 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - Straight line over 5 years
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 21 (2023 - 12 ) .

MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 242,340 109,716 29,521
Additions 1,968 30,777 -
At 30 September 2024 244,308 140,493 29,521
DEPRECIATION
At 1 October 2023 27,945 31,948 13,782
Charge for year 5,948 13,503 5,904
At 30 September 2024 33,893 45,451 19,686
NET BOOK VALUE
At 30 September 2024 210,415 95,042 9,835
At 30 September 2023 214,395 77,768 15,739

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 315,622 7,880 705,079
Additions 30,691 747 64,183
At 30 September 2024 346,313 8,627 769,262
DEPRECIATION
At 1 October 2023 79,059 5,636 158,370
Charge for year 48,336 1,844 75,535
At 30 September 2024 127,395 7,480 233,905
NET BOOK VALUE
At 30 September 2024 218,918 1,147 535,357
At 30 September 2023 236,563 2,244 546,709

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 330,597
NET BOOK VALUE
At 30 September 2024 330,597
At 30 September 2023 330,597

MATTHEW LEE JOINERY LTD (REGISTERED NUMBER: 09730526)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Trade debtors 288,459 166,329
Other debtors 110 -
288,569 166,329

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/24 30/9/23
£    £   
Bank loans and overdrafts 49,200 42,444
Hire purchase contracts 51,302 48,563
Trade creditors 142,859 99,560
Taxation and social security 87,443 71,398
Other creditors 234,027 373,977
564,831 635,942

Included in Other creditors is an amount of £229,595 (last year, £261,151) which is due to the Directors. The Directors would like to note that they have no intention of withdrawing this money within the next 12 months.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/24 30/9/23
£    £   
Bank loans 404,190 187,079
Hire purchase contracts 68,132 94,518
472,322 281,597

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 207,390 17,303

9. SECURED DEBTS

The following secured debts are included within creditors:

30/9/24 30/9/23
£    £   
Bank loans 453,390 229,523

Barclays Bank UK PLC hold a fixed and floating charge over the undertaking and all property and assets present and future.