MAT Property Limited

(Registration number: 08727793)
Balance Sheet as at 31 December 2024

	Note	2024 €	2023 €
Fixed assets
Investment property	3	873,400	873,400
Other financial assets	4	1,000	-
		874,400	873,400
Current assets
Debtors	5	22,527	21,474
Cash at bank and in hand		7,111	7,197
		29,638	28,671
Creditors: Amounts falling due within one year	6	(269,512)	(646,538)
Net current liabilities		(239,874)	(617,867)
Total assets less current liabilities		634,526	255,533
Creditors: Amounts falling due after more than one year	6	(250,000)	(250,000)
Net assets		384,526	5,533
Capital and reserves
Called up share capital		670	670
Retained earnings		383,856	4,863
Shareholders' funds		384,526	5,533

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 December 2025
 

......................................... Mr M R Gros Director

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

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 sales/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 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3	Investment properties

	2024 €
At 1 January	873,400
At 31 December	873,400

There has been no valuation of investment property by an independent valuer.

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss €	Total €
Non-current financial assets
Cost or valuation
Additions	1,000	1,000
At 31 December 2024	1,000	1,000
Impairment
Carrying amount
At 31 December 2024	1,000	1,000

5

Debtors

Current	Note	2024 €	2023 €
Trade debtors		18,715	21,290
Amounts owed by related parties		3,575	-
Prepayments		198	184
Other debtors		39	-
		22,527	21,474

MAT Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 €	2023 €
Due within one year
Trade creditors		-	157
Amounts owed to group undertakings and undertakings in which the company has a participating interest		-	376,866
Taxation and social security		60	337
Accruals and deferred income		2,545	1,545
Other creditors		266,907	267,633
		269,512	646,538

Creditors: amounts falling due after more than one year

	2024 €	2023 €
Due after one year
Other financial liabilities	250,000	250,000