Mattelle Net Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

Mattelle Net Limited

(Registration number: 04638422)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	855,935	900,003
Current assets
Stocks	5	10,250	10,769
Debtors	6	1,586,570	1,132,744
Cash at bank and in hand		567,079	980,401
		2,163,899	2,123,914
Creditors: Amounts falling due within one year	7	(524,172)	(525,723)
Net current assets		1,639,727	1,598,191
Total assets less current liabilities		2,495,662	2,498,194
Provisions for liabilities		(44,961)	(52,487)
Net assets		2,450,701	2,445,707
Capital and reserves
Called up share capital		2	2
Profit and loss account		2,450,699	2,445,705
Shareholders' funds		2,450,701	2,445,707

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 11 September 2025 and signed on its behalf by:
 

Mr M Tiffin Company secretary and director

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
40 The Ellipse
West Bay
Bridport
Dorset
DT6 4GZ

Principal activity

The principal activity of the company is the manufacture of sport and industrial nets.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fittings fixtures and equipment	25% reducing balance
Motor vehicles	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2024 - 42).

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

4	Tangible assets

	Land and buildings £	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	193,779	468,819	32,574	355,607	105,472	1,156,251
Additions	-	-	-	7,100	28,500	35,600
Disposals	-	-	-	-	(27,049)	(27,049)
At 31 March 2025	193,779	468,819	32,574	362,707	106,923	1,164,802
Depreciation
At 1 April 2024	-	-	25,176	199,101	31,971	256,248
Charge for the year	-	-	1,849	40,907	21,697	64,453
Eliminated on disposal	-	-	-	-	(11,834)	(11,834)
At 31 March 2025	-	-	27,025	240,008	41,834	308,867
Carrying amount
At 31 March 2025	193,779	468,819	5,549	122,699	65,089	855,935
At 31 March 2024	193,779	468,819	7,398	156,506	73,501	900,003

Included within the net book value of land and buildings above is £193,779 (2024 - £193,779) in respect of freehold land and buildings and £468,819 (2024 - £468,819) in respect of long leasehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	10,250	10,769

6

Debtors

	2025 £	2024 £
Trade debtors	1,385,009	908,981
Other debtors	178,493	200,680
Prepayments	23,068	23,083
	1,586,570	1,132,744

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	-	233,663
Trade creditors		422,548	3,476
Taxation and social security		77,239	257,329
Accruals and deferred income		8,500	10,500
Other creditors		15,885	20,755
		524,172	525,723

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	141,844
Bank overdrafts	-	91,819
	-	233,663

Mattelle Net Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 March 2025 (continued)

10	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	121,124	165,455	(165,000)	121,579

2024	At 1 April 2023 £	Advances to director £	Repayments by director £	At 31 March 2024 £
Directors	75,365	210,759	(165,000)	121,124