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Company registration number: 6426252
Mathisen & Associates Ltd
Unaudited filleted financial statements
31 March 2024
Mathisen & Associates Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Mathisen & Associates Ltd
Directors and other information
Directors R Mathisen
Miss L Navarro
Company number 6426252
Registered office 20 Sunningdale Close
Stanmore
HA7 3QL
Accountants Passer & Co
20 Sunningdale Close
Stanmore
HA7 3QL
Mathisen & Associates Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 - 92,843
_______ _______
- 92,843
Current assets
Debtors 6 323,361 63,864
Cash at bank and in hand 5,855 169,158
_______ _______
329,216 233,022
Creditors: amounts falling due
within one year 7 ( 71,628) ( 46,801)
_______ _______
Net current assets 257,588 186,221
_______ _______
Total assets less current liabilities 257,588 279,064
_______ _______
Net assets 257,588 279,064
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 257,586 279,062
_______ _______
Shareholders funds 257,588 279,064
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 March 2024 , and are signed on behalf of the board by:
R Mathisen
Director
Company registration number: 6426252
Mathisen & Associates Ltd
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 2 307,500 307,502
(Loss)/profit for the year 152,082 152,082
_______ _______ _______
Total comprehensive income for the year - 152,082 152,082
Dividends paid and payable ( 180,520) ( 180,520)
_______ _______ _______
Total investments by and distributions to owners - ( 180,520) ( 180,520)
_______ _______ _______
At 31 March 2023 and 1 April 2023 2 279,062 279,064
(Loss)/profit for the year ( 19,476) ( 19,476)
_______ _______ _______
Total comprehensive income for the year - ( 19,476) ( 19,476)
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 31 March 2024 2 257,586 257,588
_______ _______ _______
Mathisen & Associates Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 20 Sunningdale Close, Stanmore, HA7 3QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2023 92,843 92,843
Disposals ( 92,843) ( 92,843)
_______ _______
At 31 March 2024 - -
_______ _______
Impairment
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 - -
_______ _______
At 31 March 2023 92,843 92,843
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 323,361 63,864
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 1,370
Corporation tax - 16,115
Social security and other taxes 71,628 29,316
_______ _______
71,628 46,801
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
R Mathisen 20,774 86,967 107,741
Miss L Navarro 26,975 172,530 199,505
_______ _______ _______
47,749 259,497 307,246
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
R Mathisen ( 6,200) 26,974 20,774
Miss L Navarro - 26,975 26,975
_______ _______ _______
( 6,200) 53,949 47,749
_______ _______ _______
9. Controlling party
The Company is controlled by its Directors by virtue of their shareholdings.