Silverfin false false 30/11/2024 01/12/2023 30/11/2024 Miss C Donovan 07/09/2020 Mr W Johnson 19/11/2024 Mr R M H Lawrence 23/07/2020 Mr D Nicholson 23/07/2020 29 August 2025 The principal activity of the company is the research and development of innovative low carbon construction materials. 12764356 2024-11-30 12764356 bus:Director1 2024-11-30 12764356 bus:Director2 2024-11-30 12764356 bus:Director3 2024-11-30 12764356 bus:Director4 2024-11-30 12764356 2023-11-30 12764356 core:CurrentFinancialInstruments 2024-11-30 12764356 core:CurrentFinancialInstruments 2023-11-30 12764356 core:Non-currentFinancialInstruments 2024-11-30 12764356 core:Non-currentFinancialInstruments 2023-11-30 12764356 core:ShareCapital 2024-11-30 12764356 core:ShareCapital 2023-11-30 12764356 core:SharePremium 2024-11-30 12764356 core:SharePremium 2023-11-30 12764356 core:RetainedEarningsAccumulatedLosses 2024-11-30 12764356 core:RetainedEarningsAccumulatedLosses 2023-11-30 12764356 core:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 12764356 core:PatentsTrademarksLicencesConcessionsSimilar 2024-11-30 12764356 core:OtherPropertyPlantEquipment 2023-11-30 12764356 core:OtherPropertyPlantEquipment 2024-11-30 12764356 2023-12-01 2024-11-30 12764356 bus:FilletedAccounts 2023-12-01 2024-11-30 12764356 bus:SmallEntities 2023-12-01 2024-11-30 12764356 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 12764356 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 12764356 bus:Director1 2023-12-01 2024-11-30 12764356 bus:Director2 2023-12-01 2024-11-30 12764356 bus:Director3 2023-12-01 2024-11-30 12764356 bus:Director4 2023-12-01 2024-11-30 12764356 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-12-01 2024-11-30 12764356 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 12764356 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-12-01 2024-11-30 12764356 2022-12-01 2023-11-30 12764356 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Company No: 12764356 (England and Wales)

MATERIAL RESEARCH LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2024
Pages for filing with the registrar

MATERIAL RESEARCH LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2024

Contents

MATERIAL RESEARCH LIMITED

BALANCE SHEET

As at 30 November 2024
MATERIAL RESEARCH LIMITED

BALANCE SHEET (continued)

As at 30 November 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 15,486
Tangible assets 4 72,758 96,026
72,758 111,512
Current assets
Stocks 1,059 985
Debtors 5 23,546 18,447
Cash at bank and in hand 4,656 9,699
29,261 29,131
Creditors: amounts falling due within one year 6 ( 12,863) ( 8,892)
Net current assets 16,398 20,239
Total assets less current liabilities 89,156 131,751
Creditors: amounts falling due after more than one year 7 ( 262,950) ( 282,950)
Net liabilities ( 173,794) ( 151,199)
Capital and reserves
Called-up share capital 133 100
Share premium account 9,967 0
Profit and loss account ( 183,894 ) ( 151,299 )
Total shareholders' deficit ( 173,794) ( 151,199)

For the financial year ending 30 November 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Material Research Limited (registered number: 12764356) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mr D Nicholson
Director
Miss C Donovan
Director

29 August 2025

MATERIAL RESEARCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2024
MATERIAL RESEARCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 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

Material Research 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 Unit 6 Forge Business Centre, Upper Rose Lane, Palgrave, IP22 1AP, 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £173,794. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance
4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 5

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 December 2023 21,453 21,453
Disposals ( 21,453) ( 21,453)
At 30 November 2024 0 0
Accumulated amortisation
At 01 December 2023 5,967 5,967
Disposals ( 5,967) ( 5,967)
At 30 November 2024 0 0
Net book value
At 30 November 2024 0 0
At 30 November 2023 15,486 15,486

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2023 171,604 171,604
Additions 1,150 1,150
Disposals ( 291) ( 291)
At 30 November 2024 172,463 172,463
Accumulated depreciation
At 01 December 2023 75,578 75,578
Charge for the financial year 24,327 24,327
Disposals ( 200) ( 200)
At 30 November 2024 99,705 99,705
Net book value
At 30 November 2024 72,758 72,758
At 30 November 2023 96,026 96,026

5. Debtors

2024 2023
£ £
Trade debtors 0 18,117
Amounts owed by associates 23,214 0
Prepayments 332 330
23,546 18,447

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 2,441 4,597
Accruals and deferred income 3,209 1,940
Other taxation and social security 4,529 2,355
Other creditors 2,684 0
12,863 8,892

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

2024 2023
£ £
Other loans 262,950 282,950