Mathewson & Rosemond Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00639320 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY 2024 TO 30 DECEMBER 2024

FOR

MATHEWSON & ROSEMOND LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

123,500

-

Tangible assets

5

970,134

300,795

Investments

6

3,910

133,910

1,097,544

434,705

CURRENT ASSETS

Stocks

2,886,102

2,986,888

Debtors

7

2,567,705

2,616,754

Cash in hand

160

5,453,967

5,603,802

CREDITORS

Amounts falling due within one year

8

4,178,715

4,322,598

NET CURRENT ASSETS

1,275,252

1,281,204

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,372,796

1,715,909

CREDITORS

Amounts falling due after more than
one year

9

(8,878

)

(42,059

)

PROVISIONS FOR LIABILITIES

(72,991

)

(45,147

)

NET ASSETS

2,290,927

1,628,703

CAPITAL AND RESERVES

Called up share capital

8,000

Revaluation reserve

807,195

-

Capital redemption reserve

2,000

Profit and loss account

1,473,732

1,618,703

2,290,927

1,628,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

Mr A G Kidger - Director

1.	STATUTORY INFORMATION

Mathewson & Rosemond Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00639320

Registered office:

Union Mills

9 Dewsbury Road

Leeds

West Yorkshire

LS11 5DE

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The 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 are prepared on the historical cost convention as modified by the revaluation of certain financial assets measured at fair value through profit and loss.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

33% on cost and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

33% on reducing balance and 25% on reducing balance

Computer Equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

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

Basic financial instruments are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.

Where investments are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other investments are subsequently measured at cost less impairment.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting period. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 35 (2023 - 35 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Reclassification/transfer

130,000

At 30 December 2024

130,000

AMORTISATION

Amortisation for period

6,500

At 30 December 2024

6,500

NET BOOK VALUE

At 30 December 2024

123,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST

At 1 January 2024

220,459

51,859

214,817

Additions

654,541

3,750

66,490

At 30 December 2024

875,000

55,609

281,307

DEPRECIATION

At 1 January 2024

100,251

27,631

130,629

Charge for period

4,412

4,222

22,993

At 30 December 2024

104,663

31,853

153,622

NET BOOK VALUE

At 30 December 2024

770,337

23,756

127,685

At 31 December 2023

120,208

24,228

84,188

Motor

Computer

vehicles

Equipment

Totals

£

COST

At 1 January 2024

199,402

53,377

739,914

Additions

-

2,610

727,391

At 30 December 2024

199,402

55,987

1,467,305

DEPRECIATION

At 1 January 2024

133,847

46,761

439,119

Charge for period

21,860

4,565

58,052

At 30 December 2024

155,707

51,326

497,171

NET BOOK VALUE

At 30 December 2024

43,695

4,661

970,134

At 31 December 2023

65,555

6,616

300,795

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

133,910

Reclassification/transfer

(130,000

)

At 30 December 2024

3,910

NET BOOK VALUE

At 30 December 2024

3,910

At 31 December 2023

133,910

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

2,355,002

2,372,814

Other debtors

212,703

243,940

2,567,705

2,616,754

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

2,736,939

2,558,368

Hire purchase contracts

33,412

44,110

Trade creditors

981,679

1,200,579

Taxation and social security

401,692

504,201

Other creditors

24,993

15,340

4,178,715

4,322,598

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Hire purchase contracts

8,878

42,059

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank overdrafts

2,736,939

2,558,368

Hire purchase contracts

42,290

86,169

2,779,229

2,644,537

Bank borrowings are secured by a legal charge over assets of the company.

Hire purchase liabilities are secured on the related assets.

11.	PENSION COMMITMENTS

The amount recognised in profit and loss as an expense in relation to defined contribution plans was £85,771 (2023: £60,975). Contributions totalling £Nil (2023: Nil) were payable to the plan at the year end and are included in creditors.