The Natural Mat Co Limited 03777065 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is bedding manufacture and retailer. Digita Accounts Production Advanced 6.30.9574.0 true true false false 03777065 2023-06-01 2024-05-31 03777065 2024-05-31 03777065 core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 03777065 core:OtherReservesSubtotal 2024-05-31 03777065 core:RetainedEarningsAccumulatedLosses 2024-05-31 03777065 core:ShareCapital 2024-05-31 03777065 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-05-31 03777065 core:CurrentFinancialInstruments 2024-05-31 03777065 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 03777065 core:Non-currentFinancialInstruments 2024-05-31 03777065 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 03777065 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 03777065 core:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 03777065 core:FurnitureFittingsToolsEquipment 2024-05-31 03777065 core:LandBuildings 2024-05-31 03777065 core:MotorVehicles 2024-05-31 03777065 core:OtherPropertyPlantEquipment 2024-05-31 03777065 bus:SmallEntities 2023-06-01 2024-05-31 03777065 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03777065 bus:FilletedAccounts 2023-06-01 2024-05-31 03777065 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03777065 bus:RegisteredOffice 2023-06-01 2024-05-31 03777065 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 03777065 bus:Director2 2023-06-01 2024-05-31 03777065 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03777065 core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-01 2024-05-31 03777065 core:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 03777065 core:ShareCapital 2023-06-01 2024-05-31 03777065 core:ComputerEquipment 2023-06-01 2024-05-31 03777065 core:FurnitureFittings 2023-06-01 2024-05-31 03777065 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 03777065 core:LandBuildings 2023-06-01 2024-05-31 03777065 core:MotorVehicles 2023-06-01 2024-05-31 03777065 core:OfficeEquipment 2023-06-01 2024-05-31 03777065 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 03777065 core:Subsidiary1 2023-06-01 2024-05-31 03777065 core:Subsidiary1 1 2023-06-01 2024-05-31 03777065 core:Subsidiary1 countries:AllCountries 2023-06-01 2024-05-31 03777065 countries:AllCountries 2023-06-01 2024-05-31 03777065 2023-05-31 03777065 core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 03777065 core:RetainedEarningsAccumulatedLosses 2023-05-31 03777065 core:ShareCapital 2023-05-31 03777065 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 03777065 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 03777065 core:CostValuation 2023-05-31 03777065 core:FurnitureFittingsToolsEquipment 2023-05-31 03777065 core:LandBuildings 2023-05-31 03777065 core:MotorVehicles 2023-05-31 03777065 core:OtherPropertyPlantEquipment 2023-05-31 03777065 2022-06-01 2023-05-31 03777065 2023-05-31 03777065 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-05-31 03777065 core:CurrentFinancialInstruments 2023-05-31 03777065 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03777065 core:Non-currentFinancialInstruments 2023-05-31 03777065 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 03777065 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 03777065 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 03777065 core:FurnitureFittingsToolsEquipment 2023-05-31 03777065 core:LandBuildings 2023-05-31 03777065 core:MotorVehicles 2023-05-31 03777065 core:OtherPropertyPlantEquipment 2023-05-31 03777065 core:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 03777065 core:ShareCapital 2022-06-01 2023-05-31 03777065 core:Subsidiary1 1 2022-06-01 2023-05-31 03777065 2022-05-31 03777065 core:RetainedEarningsAccumulatedLosses 2022-05-31 03777065 core:ShareCapital 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 03777065

The Natural Mat Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

The Natural Mat Co Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 12

 

The Natural Mat Co Limited

Company Information

Directors

Mr P Tindall

Mr MWH Tremlett

Company secretary

Mr P Tindall

Registered office

11 Yeo Business Park Axehayes Farm
Clyst St. Mary
Exeter
Devon
EX5 1DP

Accountants

M.J. Smith & Co Limited
Chartered Accountants
11 Yeo Business Park Axehayes Farm
Clyst St. Mary
Exeter
Devon
EX5 1DP

 

The Natural Mat Co Limited

(Registration number: 03777065)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

fixed assets

 

Intangible assets

6

157,766

157,766

tangible assets

7

450,301

259,191

Investments

8

1

1

 

608,068

416,958

Current assets

 

stocks

9

445,943

375,804

Debtors

10

669,806

948,682

Cash at bank and in hand

 

1,154,362

1,310,593

 

2,270,111

2,635,079

Creditors: Amounts falling due within one year

11

(897,083)

(910,266)

Net current assets

 

1,373,028

1,724,813

Total assets less current liabilities

 

1,981,096

2,141,771

Creditors: Amounts falling due after more than one year

11

(60,000)

(120,000)

Provisions for liabilities

(98,827)

(75,246)

Net assets

 

1,822,269

1,946,525

capital and reserves

 

Called up share capital

302

300

Other reserves

4,935

-

Profit and loss account

1,817,032

1,946,225

Total equity

 

1,822,269

1,946,525

For the financial year ending 31 May 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.

 

The Natural Mat Co Limited

(Registration number: 03777065)
Balance Sheet as at 31 May 2024

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr P Tindall
Company secretary and director

 

The Natural Mat Co Limited

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 June 2023

300

-

1,946,225

1,946,525

Profit for the year

-

-

58,643

58,643

Other comprehensive income

-

4,935

-

4,935

Total comprehensive income

-

4,935

58,643

63,578

Dividends

-

-

(187,836)

(187,836)

New share capital subscribed

2

-

-

2

At 31 May 2024

302

4,935

1,817,032

1,822,269

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

300

1,546,318

1,546,618

Profit for the year

-

551,603

551,603

Dividends

-

(151,696)

(151,696)

At 31 May 2023

300

1,946,225

1,946,525

 

The Natural Mat Co Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Engalnd & Wales .

The address of its registered office is:
11 Yeo Business Park Axehayes Farm
Clyst St. Mary
Exeter
Devon
EX5 1DP
England

These financial statements were authorised for issue by the Board on 13 March 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

The Natural Mat Co Limited

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Office equipment

15% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Motor vehicles

25% reducing balance basis

Computer equipment

25% reducing balance basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

The Natural Mat Co Limited

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

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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 at amortised cost using the effective interest method, 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Natural Mat Co Limited

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

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.

 

The Natural Mat Co Limited

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

Share based payments

The company operates an Enterprise Management Incentives (EMI) share option scheme for certain employees. The fair value of equity-settled share-based payments is measured at the grant date and expensed over the vesting period. The fair value is determined using the market valuation of shares as agreed with HMRC.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 54 (2023 - 50).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

41,043

31,825

5

Taxation on profits on ordinary activities

Note

2024
£

2023
 £

Tax reconciliation

 

UK corporation tax

 

(27,264)

124,594

UK corporation tax adjustment to prior periods

 

(151)

-

Deferred tax

 

23,581

12,028

 

(3,834)

136,622

6

Intangible assets

Trademarks, patents and licenses
 £

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 June 2023

2,123

155,643

157,766

At 31 May 2024

2,123

155,643

157,766

Amortisation

Carrying amount

At 31 May 2024

2,123

155,643

157,766

At 31 May 2023

2,123

155,643

157,766

 

The Natural Mat Co Limited

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

7

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 June 2023

98,910

285,116

38,885

34,334

457,245

Additions

96,779

78,819

48,950

8,505

233,053

Disposals

-

-

(9,000)

-

(9,000)

At 31 May 2024

195,689

363,935

78,835

42,839

681,298

Depreciation

At 1 June 2023

-

147,399

24,955

25,700

198,054

Charge for the year

-

32,480

4,277

4,285

41,042

Eliminated on disposal

-

-

(8,099)

-

(8,099)

At 31 May 2024

-

179,879

21,133

29,985

230,997

Carrying amount

At 31 May 2024

195,689

184,056

57,702

12,854

450,301

At 31 May 2023

98,910

137,717

13,930

8,634

259,191

Included within the net book value of land and buildings above is £195,689 (2023 - £98,910) in respect of long leasehold land and buildings.
 

 

The Natural Mat Co Limited

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

8

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 June 2023

1

Provision

Carrying amount

At 31 May 2024

1

At 31 May 2023

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Naturalmat USA Inc

Russell P Guagenti CPA
Guangenti & Associates LLC
391Lafayette Street
Ste1 NJ07105
40 Baldwin Road
Parsippany
Nj07054

USA

2500 Shares ($0.0004)

100%

100%

9

Stocks

2024
£

2023
£

Other inventories

445,943

375,804

10

Debtors

 

The Natural Mat Co Limited

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

Current

Note

2024
£

2023
£

Trade debtors

 

390,421

744,452

Amounts owed by related parties

90,522

77,714

Prepayments

 

158,912

120,737

Other debtors

 

29,951

5,779

   

669,806

948,682

11

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

12

115,834

60,000

trade creditors

 

551,933

533,237

Taxation and social security

 

202,509

133,982

Accruals and deferred income

 

9,780

11,426

Other creditors

 

10,543

165,137

Director's current account

 

6,484

6,484

 

897,083

910,266

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12

60,000

120,000

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

60,000

120,000

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

55,834

-

Other borrowings

60,000

60,000

115,834

60,000