40 18 Matte Black Surfacing Limited 12779934 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Construction of roads and motorways Digita Accounts Production Advanced 6.30.9574.0 true 12779934 2023-08-01 2024-07-31 12779934 2024-07-31 12779934 bus:OrdinaryShareClass1 2024-07-31 12779934 bus:OrdinaryShareClass2 2024-07-31 12779934 bus:OrdinaryShareClass3 2024-07-31 12779934 bus:OrdinaryShareClass4 2024-07-31 12779934 core:RetainedEarningsAccumulatedLosses 2024-07-31 12779934 core:ShareCapital 2024-07-31 12779934 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 12779934 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 12779934 core:CurrentFinancialInstruments 2024-07-31 12779934 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12779934 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 12779934 core:FurnitureFittingsToolsEquipment 2024-07-31 12779934 core:MotorVehicles 2024-07-31 12779934 bus:SmallEntities 2023-08-01 2024-07-31 12779934 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12779934 bus:FilletedAccounts 2023-08-01 2024-07-31 12779934 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12779934 bus:RegisteredOffice 2023-08-01 2024-07-31 12779934 bus:Director3 2023-08-01 2024-07-31 12779934 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 12779934 bus:OrdinaryShareClass2 2023-08-01 2024-07-31 12779934 bus:OrdinaryShareClass3 2023-08-01 2024-07-31 12779934 bus:OrdinaryShareClass4 2023-08-01 2024-07-31 12779934 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12779934 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 12779934 core:MotorVehicles 2023-08-01 2024-07-31 12779934 core:OfficeEquipment 2023-08-01 2024-07-31 12779934 countries:England 2023-08-01 2024-07-31 12779934 2023-07-31 12779934 core:FurnitureFittingsToolsEquipment 2023-07-31 12779934 core:MotorVehicles 2023-07-31 12779934 2022-08-01 2023-07-31 12779934 2023-07-31 12779934 bus:OrdinaryShareClass1 2023-07-31 12779934 bus:OrdinaryShareClass2 2023-07-31 12779934 bus:OrdinaryShareClass3 2023-07-31 12779934 bus:OrdinaryShareClass4 2023-07-31 12779934 core:RetainedEarningsAccumulatedLosses 2023-07-31 12779934 core:ShareCapital 2023-07-31 12779934 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 12779934 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 12779934 core:CurrentFinancialInstruments 2023-07-31 12779934 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12779934 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12779934 core:FurnitureFittingsToolsEquipment 2023-07-31 12779934 core:MotorVehicles 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 12779934

Matte Black Surfacing Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Matte Black Surfacing Limited

(Registration number: 12779934)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,094,777

1,366,958

Investments

5

100

-

 

2,094,877

1,366,958

Current assets

 

Debtors

6

3,614,940

1,488,778

Cash at bank and in hand

 

199,921

285,600

 

3,814,861

1,774,378

Creditors: Amounts falling due within one year

7

(3,205,565)

(1,389,361)

Net current assets

 

609,296

385,017

Total assets less current liabilities

 

2,704,173

1,751,975

Creditors: Amounts falling due after more than one year

7

(1,116,213)

(806,768)

Provisions for liabilities

(426,275)

(204,044)

Net assets

 

1,161,685

741,163

Capital and reserves

 

Called up share capital

9

103

103

Retained earnings

1,161,582

741,060

Shareholders' funds

 

1,161,685

741,163

 

Matte Black Surfacing Limited

(Registration number: 12779934)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 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 and 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 10 March 2025 and signed on its behalf by:
 


Mr M Durnian
Director

   
 

Matte Black Surfacing Limited

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

1

General information

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

The address of its registered office is:
50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

Registration number: 12779934

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.

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 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.

Tax

The tax expense for the period comprises 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.

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.

 

Matte Black Surfacing Limited

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

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 over their estimated useful lives as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% per annum straight line

Office equipment

20% per annum straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price.

 

Matte Black Surfacing Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.

The business utilises an invoice financing facility. Financial assets and liabilities arising from a sale are recorded at the transaction price.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Matte Black Surfacing Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 40 (2023 - 18).

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

1,078,405

510,143

1,588,548

Additions

728,120

308,108

1,036,228

Disposals

(86,831)

(40,133)

(126,964)

At 31 July 2024

1,719,694

778,118

2,497,812

Depreciation

At 1 August 2023

131,112

90,478

221,590

Charge for the year

136,945

85,787

222,732

Eliminated on disposal

(23,895)

(17,392)

(41,287)

At 31 July 2024

244,162

158,873

403,035

Carrying amount

At 31 July 2024

1,475,532

619,245

2,094,777

At 31 July 2023

947,293

419,665

1,366,958

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

-

6

Debtors

2024
£

2023
£

Trade debtors

2,565,173

1,127,471

Amounts owed by group undertakings

41,934

-

Other debtors

552,339

247,936

Social security and other taxes

455,494

113,371

3,614,940

1,488,778

 

Matte Black Surfacing Limited

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

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,023,573

370,246

Trade creditors

 

2,104,283

916,434

Social security and other taxes

 

43,457

37,364

Other creditors

 

34,252

65,317

 

3,205,565

1,389,361

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,116,213

806,768

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

529,751

370,246

Other borrowings

493,822

-

1,023,573

370,246

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

1,116,213

806,768

Other borrowings

The obligations under HP and finance leases are secured upon the assets to which they relate.

Included within other borrowings is the invoice finance creditor which is secured upon the book debts of the company.

Also included within other borrowings are other loans which are secured against the assets of the company.

 

Matte Black Surfacing Limited

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

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

Ordinary C Share of £1 each

1

1

1

1

 

103

103

103

103