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Matson Electrical Services Limited

Registered Number
10487087
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Matson Electrical Services Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

Christopher Matson
Loreta Matson

Company Secretary

Loreta Matson

Registered Address

62 Horncastle Road
Woodhall Spa
LN10 6UZ

Registered Number

10487087 (England and Wales)
Matson Electrical Services Limited
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets460,96562,837
60,96562,837
Current assets
Stocks5-1,740
Debtors118,56412,431
Cash at bank and on hand24,76881,726
143,33295,897
Creditors amounts falling due within one year6(147,584)(78,621)
Net current assets (liabilities)(4,252)17,276
Total assets less current liabilities56,71380,113
Creditors amounts falling due after one year7(39,243)(56,780)
Provisions for liabilities10(15,710)(15,710)
Net assets1,7607,623
Capital and reserves
Called up share capital100100
Profit and loss account1,6607,523
Shareholders' funds1,7607,623
The financial statements were approved and authorised for issue by the Board of Directors on 22 May 2025, and are signed on its behalf by:
Christopher Matson
Director
Registered Company No. 10487087
Matson Electrical Services Limited
Notes to the Financial Statements
for the year ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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 policy
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 and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year54
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 246,129133,3442,3563,236145,065
Additions-27,500-91628,416
At 31 March 256,129160,8442,3564,152173,481
Depreciation and impairment
At 01 April 244,97775,8541,03736082,228
Charge for year30128,2503531,38430,288
At 31 March 255,278104,1041,3901,744112,516
Net book value
At 31 March 2585156,7409662,40860,965
At 31 March 241,15257,4901,3192,87662,837
Carrying values of assets held under finance leases and hire purchase contracts - motor vehicles £56,740 (2024 £57,490)
5.Stocks

2025

2024

££
Work in progress-1,740
Total-1,740
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables34,90229,597
Bank borrowings and overdrafts10,45810,000
Taxation and social security28,96818,223
Finance lease and HP contracts46,41519,660
Other creditors25,0321,141
Accrued liabilities and deferred income1,809-
Total147,58478,621
7.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts1,75412,408
Other creditors37,48944,372
Total39,24356,780
8.Secured creditors
The bank loan is a bounce back loan and is repayable by May 2026.
9.Obligations under finance leases

2025

2024

££
Finance lease and HP contracts37,48944,372
10.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)15,71015,710
Total15,71015,710