Company registration number 09605621 (England and Wales)
MATTBARKER701 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
MATTBARKER701 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MATTBARKER701 LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
11,119
13,959
Tangible assets
5
16,650
15,361
27,769
29,320
Current assets
Stocks
4,202
4,193
Debtors
6
874
857
Cash at bank and in hand
27,098
30,848
32,174
35,898
Creditors: amounts falling due within one year
7
(36,016)
(43,073)
Net current liabilities
(3,842)
(7,175)
Total assets less current liabilities
23,927
22,145
Creditors: amounts falling due after more than one year
8
(3,333)
(13,333)
Provisions for liabilities
(3,140)
(2,902)
Net assets
17,454
5,910
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
17,354
5,810
Total equity
17,454
5,910

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 May 2025 and are signed on its behalf by:
Mr M R Barker
Director
Company Registration No. 09605621
MATTBARKER701 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Mattbarker701 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of VAT, trade discounts and sales-related taxes.

 

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods and services provided.

1.3
Intangible fixed assets - goodwill

Goodwill, being the excess of fair value of the consideration over the fair value of net assets in connection with the acquisition of businesses in 2015 and 2019, is being amortised evenly over its estimated useful life of 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant & equipment
20% on cost
Fixtures & fittings
20% on cost
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

MATTBARKER701 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
9
MATTBARKER701 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
3
Exceptional item

During the year the company wrote off an existing loan of £11,893 for C&M701 Limited.

4
Intangible fixed assets
Goodwill
£
Cost
At 29 February 2024 and 28 February 2025
28,396
Amortisation and impairment
At 29 February 2024
14,437
Amortisation charged for the year
2,840
At 28 February 2025
17,277
Carrying amount
At 28 February 2025
11,119
At 28 February 2024
13,959
5
Tangible fixed assets
Plant & equipment
Fixtures & fittings
Total
£
£
£
Cost
At 29 February 2024
33,415
66,760
100,175
Additions
-
0
5,892
5,892
Disposals
-
0
(1,154)
(1,154)
At 28 February 2025
33,415
71,498
104,913
Depreciation and impairment
At 29 February 2024
27,279
57,535
84,814
Depreciation charged in the year
1,726
2,877
4,603
Eliminated in respect of disposals
-
0
(1,154)
(1,154)
At 28 February 2025
29,005
59,258
88,263
Carrying amount
At 28 February 2025
4,410
12,240
16,650
At 28 February 2024
6,136
9,225
15,361
MATTBARKER701 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Prepayments and accrued income
874
857
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Taxation and social security
9,323
6,651
Other creditors
16,693
26,422
36,016
43,073
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,333
13,333
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
50
50
50
50
Ordinary B of £1 each
50
50
50
50
100
100
100
100
10
Related party transactions

The company has an existing loan with C&M701 Limited. At the year end an amount of £nil (2024 - £17,047) remained outstanding, being included in creditors: amounts falling due within one year. C&M701 Limited and Mattbarker701 Limited have a director in common.

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