Registration number: 07587693

Ideal Mats Limited

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	3,063	3,928
Current assets
Debtors	5	605,238	548,266
Cash at bank and in hand		149,125	234,466
		754,363	782,732
Creditors: Amounts falling due within one year	6	(177,944)	(177,826)
Net current assets		576,419	604,906
Net assets		579,482	608,834
Capital and reserves
Called up share capital		110	110
Profit and loss account		579,372	608,724
Shareholders' funds		579,482	608,834

For the financial year ending 31 March 2025 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Ideal Mats Limited have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Ideal Mats Limited

Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

.........................................

Mrs K Bouverie

Director

Company registration number: 07587693

Ideal Mats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of the sale of specialist custom floor mats.

2	Accounting policies

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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date amounting to £579,482 including cash at bank of £149,125.

Having made enquiries the directors have reasonable expectation that the company has adequate resources to remain in operational existence for the foreseeable future. Accordingly, the directors continue to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of goods at the point that contracted orders are despatched to customers.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Ideal Mats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company during the year was 0 (2024 - 0).

Ideal Mats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	7,307	7,307
Disposals	(1,616)	(1,616)
At 31 March 2025	5,691	5,691
Depreciation
At 1 April 2024	3,379	3,379
Charge for the year	786	786
Eliminated on disposal	(1,537)	(1,537)
At 31 March 2025	2,628	2,628
Carrying amount
At 31 March 2025	3,063	3,063
At 31 March 2024	3,928	3,928

5

Debtors

	2025 £	2024 £
Trade debtors	11,006	6,376
Amounts owed by group undertakings	584,232	541,890
Other debtors	10,000	-
	605,238	548,266

Ideal Mats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Trade creditors	122,045	102,042
Amounts owed to group undertakings	-	5,329
Taxation and social security	53,385	69,476
Other creditors	2,514	979
	177,944	177,826

7	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total future amount of lease payments under non-cancellable operating leases not included in the statement of financial position amounted to £1,508 (2024 - £10,550).

8	Related party transactions

Exemption has been taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies that are wholly owned within the group.