Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Jason Alan Elder 09/12/2014 Joyce Lean Lunsford 09/12/2014 Gregory Alan Molter 09/12/2014 Ian David Smith 16/02/2015 Grahame Laurence Wardall 16/02/2015 29 May 2025 The principal activity of the Company during the financial year was to act as a holding company. 09347410 2024-12-31 09347410 bus:Director1 2024-12-31 09347410 bus:Director2 2024-12-31 09347410 bus:Director3 2024-12-31 09347410 bus:Director4 2024-12-31 09347410 bus:Director5 2024-12-31 09347410 2023-12-31 09347410 core:CurrentFinancialInstruments 2024-12-31 09347410 core:CurrentFinancialInstruments 2023-12-31 09347410 core:Non-currentFinancialInstruments 2024-12-31 09347410 core:Non-currentFinancialInstruments 2023-12-31 09347410 core:ShareCapital 2024-12-31 09347410 core:ShareCapital 2023-12-31 09347410 core:RetainedEarningsAccumulatedLosses 2024-12-31 09347410 core:RetainedEarningsAccumulatedLosses 2023-12-31 09347410 core:CostValuation 2023-12-31 09347410 core:DisposalsDecreaseInInvestments 2024-12-31 09347410 core:CostValuation 2024-12-31 09347410 core:ProvisionsForImpairmentInvestments 2023-12-31 09347410 core:ImpairmentLossProvisionsForImpairmentInvestments 2024-12-31 09347410 core:ProvisionsForImpairmentInvestments 2024-12-31 09347410 core:ImmediateParent core:CurrentFinancialInstruments 2024-12-31 09347410 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 09347410 bus:OrdinaryShareClass1 2024-12-31 09347410 bus:OrdinaryShareClass2 2024-12-31 09347410 bus:OrdinaryShareClass3 2024-12-31 09347410 bus:OrdinaryShareClass4 2024-12-31 09347410 2024-01-01 2024-12-31 09347410 bus:FilletedAccounts 2024-01-01 2024-12-31 09347410 bus:SmallEntities 2024-01-01 2024-12-31 09347410 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 09347410 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09347410 bus:Director1 2024-01-01 2024-12-31 09347410 bus:Director2 2024-01-01 2024-12-31 09347410 bus:Director3 2024-01-01 2024-12-31 09347410 bus:Director4 2024-01-01 2024-12-31 09347410 bus:Director5 2024-01-01 2024-12-31 09347410 2023-01-01 2023-12-31 09347410 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 09347410 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 09347410 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09347410 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 09347410 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 09347410 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 09347410 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 09347410 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 09347410 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09347410 (England and Wales)

MAT INTERCO LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

MAT INTERCO LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

MAT INTERCO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
MAT INTERCO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 0 3,312,199
0 3,312,199
Current assets
Debtors 4 0 449,643
Cash at bank and in hand 12,151 4,863
12,151 454,506
Creditors: amounts falling due within one year 5 ( 9,364) ( 2,586,551)
Net current assets/(liabilities) 2,787 (2,132,045)
Total assets less current liabilities 2,787 1,180,154
Creditors: amounts falling due after more than one year 6 0 ( 542,461)
Net assets 2,787 637,693
Capital and reserves
Called-up share capital 7 2,212 2,212
Profit and loss account 575 635,481
Total shareholders' funds 2,787 637,693

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mat Interco Limited (registered number: 09347410) were approved and authorised for issue by the Board of Directors on 29 May 2025. They were signed on its behalf by:

Gregory Alan Molter
Director
MAT INTERCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
MAT INTERCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mat Interco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Hameldown Road, Exeter Road Industrial Estate, Okehampton, EX20 1UB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

In 2024 the directors made the decision that the Company would cease trading. The strike off from the Company Registrar is expected to be finalised in 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 3,312,199
Disposals ( 94,838)
At 31 December 2024 3,217,361
Provisions for impairment
At 01 January 2024 0
Impairment 3,217,361
At 31 December 2024 3,217,361
Carrying value at 31 December 2024 0
Carrying value at 31 December 2023 3,312,199

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 0 418,796
Amounts owed by Parent undertakings 0 20,821
Other debtors 0 10,026
0 449,643

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 9,364 0
Accruals 0 266,170
Other creditors 0 2,320,381
9,364 2,586,551

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 0 542,461

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,725 A ordinary shares of £ 1.00 each 1,725 1,725
325 B ordinary shares of £ 1.00 each 325 325
125 C ordinary shares of £ 1.00 each 125 125
37 D ordinary shares of £ 1.00 each 37 37
2,212 2,212

8. Related party transactions

Transactions with owners holding a participating interest in the entity

Mat Interco Limited has taken the exemption in Section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 0 542,461

Other related party transactions

2024 2023
£ £
Amounts owed to associated companies 0 2,320,381

During the accounting period, loan balances held between Mat Interco Limited and other companies under common control totalling £278,808 were written off.