REGISTERED NUMBER: 01950507 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Mato Industries Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A P Norton

SECRETARY:

G R Hudson

REGISTERED OFFICE:

Shackleton Point

Dock Street

Blackburn

Lancashire

BB1 3AX

REGISTERED NUMBER:

01950507 (England and Wales)

AUDITORS:

SB&P

Chartered Accountants & Statutory Auditors

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,378,620

396,802

Investments

6

-

-

2,378,620

396,802

CURRENT ASSETS

Stocks

1,092,503

1,309,908

Debtors

7

1,385,441

1,637,150

Cash at bank and in hand

2,987,994

3,895,827

5,465,938

6,842,885

CREDITORS

Amounts falling due within one year

8

888,237

857,691

NET CURRENT ASSETS

4,577,701

5,985,194

TOTAL ASSETS LESS CURRENT LIABILITIES

6,956,321

6,381,996

PROVISIONS FOR LIABILITIES

10

121,214

143,083

NET ASSETS

6,835,107

6,238,913

CAPITAL AND RESERVES

Called up share capital

300,000

300,000

Retained earnings

6,535,107

5,938,913

SHAREHOLDERS' FUNDS

6,835,107

6,238,913

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 4 April 2025 and were signed by:

A P Norton - Director

1.	STATUTORY INFORMATION

Mato Industries Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Mato Industries Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

The turnover shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax. Revenue is recognised on delivery of the goods or performance of the service.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, 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.

Freehold property

-

3% on cost and NIL

Improvements to property

-

20% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

33% on cost and 20% on cost

Motor vehicles

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

256,172

AMORTISATION

At 1 January 2024

and 31 December 2024

256,172

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 January 2024

240,000

13,746

227,540

Additions

1,964,404

-

6,854

Disposals

-

-

-

At 31 December 2024

2,204,404

13,746

234,394

DEPRECIATION

At 1 January 2024

72,000

13,746

171,348

Charge for year

17,896

-

3,761

Eliminated on disposal

-

-

-

At 31 December 2024

89,896

13,746

175,109

NET BOOK VALUE

At 31 December 2024

2,114,508

-

59,285

At 31 December 2023

168,000

-

56,192

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

124,937

430,959

1,037,182

Additions

13,817

129,140

2,114,215

Disposals

-

(90,023

)

(90,023

)

At 31 December 2024

138,754

470,076

3,061,374

DEPRECIATION

At 1 January 2024

114,047

269,239

640,380

Charge for year

8,184

81,005

110,846

Eliminated on disposal

-

(68,472

)

(68,472

)

At 31 December 2024

122,231

281,772

682,754

NET BOOK VALUE

At 31 December 2024

16,523

188,304

2,378,620

At 31 December 2023

10,890

161,720

396,802

6.	FIXED ASSET INVESTMENTS

The company owns 100% of the issued share capital of Lumatic Limited and Lumatic (G.A.) Limited, both dormant companies incorporated in England & Wales. The investment values have been impaired to £Nil during prior periods.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,286,908

1,516,669

Amounts owed by group undertakings

44,731

41,909

Prepayments

53,802

78,572

1,385,441

1,637,150

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

123,149

186,840

Amounts owed to group undertakings

41,723

60,431

Tax

210,588

223,045

Social security and other taxes

31,980

36,157

VAT

172,448

163,780

Accrued expenses

308,349

187,438

888,237

857,691

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

26,312

60,583

Between one and five years

39,436

73,000

In more than five years

1,890

-

67,638

133,583

10.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

51,214

2,083

Other provisions

70,000

141,000

121,214

143,083

Deferred

Other

tax

provisions

£

£

Balance at 1 January 2024

2,083

141,000

Charge/(credit) to Income Statement during year

49,131

(71,000

)

Balance at 31 December 2024

51,214

70,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Suzanne Draper FCCA ACA (Senior Statutory Auditor)

for and on behalf of SB&P

12.	PARENT COMPANY

Mato Holding GmbH is the immediate parent company, and the ultimate parent undertaking is Mato GmbH & Co. KG, a limited liability company incorporated in Germany, and is the smallest and largest group for which consolidated accounts including Mato Industries Limited are prepared. The consolidated accounts of Mato GmbH & Co. KG are available from its registered office, BenzstraBe, 16-2463165, Muhlheim am Main, Germany. The ultimate controlling party is Mrs. S . Haupt.