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REGISTERED NUMBER: 14324454 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Matt Carney Ltd

Matt Carney Ltd (Registered number: 14324454)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Matt Carney Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: M J Carney





REGISTERED OFFICE: Upper Moreton Farm
Bishton Lane
Wolseley Bridge
Staffordshire
ST18 0XD





REGISTERED NUMBER: 14324454 (England and Wales)





ACCOUNTANTS: SET Accountancy
Unit 1
Oakedge Park
Wolseley Bridge
Staffordshire
ST17 0XS

Matt Carney Ltd (Registered number: 14324454)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 90,000
Tangible assets 5 273,547 237,957
353,547 327,957

CURRENT ASSETS
Stocks 190,150 169,690
Debtors 6 312,261 317,112
502,411 486,802
CREDITORS
Amounts falling due within one
year

7

717,502

722,528
NET CURRENT LIABILITIES (215,091 ) (235,726 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

138,456

92,231

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 138,446 92,221
138,456 92,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 May 2025 and were signed by:




M J Carney - Director


Matt Carney Ltd (Registered number: 14324454)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Matt Carney Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Matt Carney Ltd (Registered number: 14324454)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 100,000
AMORTISATION
At 1 September 2023 10,000
Charge for year 10,000
At 31 August 2024 20,000
NET BOOK VALUE
At 31 August 2024 80,000
At 31 August 2023 90,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 - 279,949 279,949
Additions 71,284 - 71,284
At 31 August 2024 71,284 279,949 351,233
DEPRECIATION
At 1 September 2023 - 41,992 41,992
Charge for year - 35,694 35,694
At 31 August 2024 - 77,686 77,686
NET BOOK VALUE
At 31 August 2024 71,284 202,263 273,547
At 31 August 2023 - 237,957 237,957

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 308,055 317,112
Other debtors 4,206 -
312,261 317,112

Matt Carney Ltd (Registered number: 14324454)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 328,102 289,448
Taxation and social security 83,225 69,234
Other creditors 306,175 363,846
717,502 722,528