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REGISTERED NUMBER: 08670894 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MATTWOOD DEVELOPMENTS LTD

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATTWOOD DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: J A Matthewson
R J Wood





REGISTERED OFFICE: The Woodlands
Cemetery Lane, Tweedmouth
Berwick-Upon-Tweed
Northumberland
TD15 2NE





REGISTERED NUMBER: 08670894 (England and Wales)





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

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

BALANCE SHEET
31 AUGUST 2024

31/8/24 31/8/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 136,824 87,900
Investment property 5 100,000 100,000
236,824 187,900

CURRENT ASSETS
Stocks 1,154,768 853,568
Debtors 6 43,585 87,258
Cash at bank 90,670 283,281
1,289,023 1,224,107
CREDITORS
Amounts falling due within one year 7 759,883 757,298
NET CURRENT ASSETS 529,140 466,809
TOTAL ASSETS LESS CURRENT
LIABILITIES

765,964

654,709

CREDITORS
Amounts falling due after more than one
year

8

(29,541

)

(19,487

)

PROVISIONS FOR LIABILITIES (24,388 ) (18,395 )
NET ASSETS 712,035 616,827

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 38,538 38,538
Retained earnings 673,397 578,189
SHAREHOLDERS' FUNDS 712,035 616,827

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

BALANCE SHEET - continued
31 AUGUST 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 Board of Directors and authorised for issue on 6 January 2025 and were signed on its behalf by:





J A Matthewson - Director


MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

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

1. STATUTORY INFORMATION

Mattwood Developments 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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.

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 43,756 47,657 109,873 3,526 204,812
Additions - 35,772 32,750 - 68,522
Disposals - - (8,388 ) - (8,388 )
At 31 August 2024 43,756 83,429 134,235 3,526 264,946
DEPRECIATION
At 1 September 2023 - 31,303 82,729 2,880 116,912
Charge for year - 9,214 9,519 217 18,950
Eliminated on disposal - - (7,740 ) - (7,740 )
At 31 August 2024 - 40,517 84,508 3,097 128,122
NET BOOK VALUE
At 31 August 2024 43,756 42,912 49,727 429 136,824
At 31 August 2023 43,756 16,354 27,144 646 87,900

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 41,792
DEPRECIATION
At 1 September 2023
and 31 August 2024 26,058
NET BOOK VALUE
At 31 August 2024 15,734
At 31 August 2023 15,734

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 100,000
NET BOOK VALUE
At 31 August 2024 100,000
At 31 August 2023 100,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2020 38,538
Cost 61,462
100,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade debtors 28,237 69,945
Other debtors 15,348 17,313
43,585 87,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 7,728 4,546
Trade creditors 75,543 72,796
Taxation and social security 28,284 83,340
Other creditors 638,328 586,616
759,883 757,298

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Bank loans 9,167 19,167
Hire purchase contracts 20,374 320
29,541 19,487

MATTWOOD DEVELOPMENTS LTD (REGISTERED NUMBER: 08670894)

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

9. RESERVES
Fair
value
reserve
£   
At 1 September 2023
and 31 August 2024 38,538