Company No: 00503260 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Benjamin Matthews
	Frances Winifred Matthews

REGISTERED OFFICE	Southbridge
	4 Cotton End
	Northampton
	NN4 8BS
	United Kingdom

COMPANY NUMBER

00503260 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Eagle House
	28 Billing Road
	Northampton
	NN1 5AJ

BANKERS	Barclays Bank Plc
	267 Wellingborough Road
	Northampton
	NN1 5DN

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	5	34,996		34,451
		34,996		34,451
Current assets
Stocks		10,001		15,207
Debtors	6	64,771		78,786
Cash at bank and in hand		60,928		84,270
		135,700		178,263
Creditors: amounts falling due within one year	7	( 126,428)		( 111,236)
Net current assets		9,272		67,027
Total assets less current liabilities		44,268		101,478
Net assets		44,268		101,478
Capital and reserves
Called-up share capital	8	3,000		3,000
Profit and loss account		41,268		98,478
Total shareholders' funds		44,268		101,478

For the financial year ending 31 December 2024 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of J. E. Matthews & Sons Limited (registered number: 00503260) were approved and authorised for issue by the Board of Directors on 30 September 2025. They were signed on its behalf by:

Benjamin Matthews Director

Frances Winifred Matthews Director

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

J. E. Matthews & Sons 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 Southbridge, 4 Cotton End, Northampton, NN4 8BS, 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 £.

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
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.

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	15 % reducing balance
Vehicles	15 % reducing balance
Fixtures and fittings	15 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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. 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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies above.

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	12		12

4. Dividends on equity shares

	2024		2023
	£		£
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 31 December 2024 of £Nil (2023: £10) per ordinary share	0		30,000

5. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 January 2024	57,905		52,084		11,514		121,503
Additions	299		6,000		0		6,299
At 31 December 2024	58,204		58,084		11,514		127,802
Accumulated depreciation
At 01 January 2024	44,855		33,588		8,609		87,052
Charge for the financial year	1,980		3,339		435		5,754
At 31 December 2024	46,835		36,927		9,044		92,806
Net book value
At 31 December 2024	11,369		21,157		2,470		34,996
At 31 December 2023	13,050		18,496		2,905		34,451

6. Debtors

	2024		2023
	£		£
Trade debtors	56,921		71,714
Prepayments	5,247		4,600
Corporation tax	2,603		2,472
	64,771		78,786

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	80,329		56,919
Accruals	3,995		3,900
Deferred tax liability	0		5,001
Other taxation and social security	33,354		36,481
Other creditors	8,750		8,935
	126,428		111,236

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
3,000 Ordinary shares of £ 1.00 each	3,000		3,000

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and certain employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £2,622 (2023:£3,938)