Registered number
10251552
MATET LTD
Filleted Accounts
30 June 2024
MATET LTD
Registered number: 10251552
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 220,444 256,824
Current assets
Stocks 3,345 2,860
Debtors 4 10,920 -
Cash at bank and in hand 63,456 24,605
77,721 27,465
Creditors: amounts falling due within one year 5 (53,809) (31,433)
Net current assets/(liabilities) 23,912 (3,968)
Total assets less current liabilities 244,356 252,856
Creditors: amounts falling due after more than one year 6 (8,211) (60,352)
Net assets 236,145 192,504
Capital and reserves
Called up share capital 100 100
Profit and loss account 236,045 192,404
Shareholders' funds 236,145 192,504
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Cemil BALCI
Director
Approved by the board on 24 March 2025
MATET LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fixtures, fittings and equipment 18% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 344,998
Additions 12,011
At 30 June 2024 357,009
Depreciation
At 1 July 2023 88,174
Charge for the year 48,391
At 30 June 2024 136,565
Net book value
At 30 June 2024 220,444
At 30 June 2023 256,824
4 Debtors 2024 2023
£ £
Prepayments & other debtors 10,920 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,776 10,776
Trade creditors 27,974 5,744
Taxation and social security costs 15,059 14,913
53,809 31,433
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,460 17,302
Other creditors 751 43,050
8,211 60,352
7 Other information
MATET LTD is a private company limited by shares and incorporated in England. Its registered office is:
13 Parkhouse Court
Hatfield
AL10 9RQ
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