Matthew_Collins_Furniture_Limited_31_Dec_2024_companies_house_set_of

Matthew Collins Furniture Limited

Report to the board of directors on the preparation of the unaudited statutory financial statements of Matthew Collins Furniture Limited

Year ended

31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the

financial statements

Matthew Collins Furniture Limited

for the year ended

31 December 2024

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

Matthew Collins Furniture Limited

, as a body. My work has been undertaken solely to prepare for your approval the

financial statements

Matthew Collins Furniture Limited

and state those matters that I have agreed to state to the Board of Directors of

Matthew Collins Furniture Limited

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than

Matthew Collins Furniture Limited

and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that

Matthew Collins Furniture Limited

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Matthew Collins Furniture Limited

. You consider that

Matthew Collins Furniture Limited

is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Matthew Collins Furniture Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Mark Kennedy & Co Ltd

133 Ingrebourne Gardens

Upminster

Essex

RM14 1BJ

United Kingdom

Date:

26 September 2025

Matthew Collins Furniture Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	113,989		100,104
Current assets
Stocks		7,000		9,000
Debtors	6	424,111		445,650
Cash at bank and in hand		427,330		496,449
		858,441		951,099
Creditors: amounts falling due within one year	7	(133,128	)	(200,623	)
Net current assets		725,313		750,476
Total assets less current liabilities		839,302		850,580
Provisions for liabilities		(28,332	)	(25,026	)
Net assets		810,970		825,554
Capital and reserves
Called up share capital		100		100
Profit and loss account		810,870		825,454
Shareholders funds		810,970		825,554

For the 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.

Director's responsibilities:

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

These

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.

These

financial statements

were approved by the board of directors and authorised for issue on

26 September 2025

, and are signed on behalf of the board by:

M Collins

Director

Company registration number:

06478413

Matthew Collins Furniture Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Cotswold Dene

Standlake

Oxfordshire

OX29 7PL

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

financial statements

have been prepared on the historical cost basis.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting polices, the director is required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts, Value Added Tax and other sales taxes.

Current tax

Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible fixed assets are initially measured at cost and are subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery

25% Reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting 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.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was

(2023:

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 January 2024	410,048
Additions	57,857
At 31 December 2024	467,905
Depreciation
At 1 January 2024	309,944
Charge	43,972
At 31 December 2024	353,916
Carrying amount
At 31 December 2024	113,989
At 31 December 2023	100,104

6 Debtors

	2024	2023
	£	£
Trade debtors	28,878	55,291
Amounts owed by group undertakings and undertakings in which the company has a participating interest	381,920	381,920
Other debtors	13,313	8,439
	424,111	445,650

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	36,786	30,620
Taxation and social security	29,625	94,602
Other creditors	66,717	75,401
	133,128	200,623

8 Related party transactions

As at the balance sheet date an amount of £381,920 (2023 £381.920) was still owing from Matthew Collins Property Limited. This is repayable on demand and does not incur any interest.