Registration number: 00369892

W J Mathews (Exeter) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

W J Mathews (Exeter) Limited

Company Information

Director

Mr M J Hallam

Company secretary

Mrs C A Hallam

Registered office

14 Trusham Road Marsh Barton Exeter Devon EX2 8QG

Accountants

Redwoods Accountants (Exeter) Ltd Chartered Certified Accountants2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

W J Mathews (Exeter) Limited

(Registration number: 00369892)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	394,509	408,120
Current assets
Stocks	5	28,950	33,275
Debtors	6	193,320	249,807
Cash at bank and in hand		686,645	632,333
		908,915	915,415
Creditors: Amounts falling due within one year	7	(130,727)	(155,741)
Net current assets		778,188	759,674
Total assets less current liabilities		1,172,697	1,167,794
Creditors: Amounts falling due after more than one year	7	(1,610)	(19,763)
Provisions for liabilities		(22,681)	(23,019)
Net assets		1,148,406	1,125,012
Capital and reserves
Called up share capital	8	750	750
Retained earnings		1,147,656	1,124,262
Shareholders' funds		1,148,406	1,125,012

For the financial year ending 31 August 2025 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 27 May 2026
 

......................................... Mr M J Hallam Director

W J Mathews (Exeter) Limited

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

1	General information

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

The address of its registered office is:
14 Trusham Road
Marsh Barton
Exeter
Devon
EX2 8QG

These financial statements were authorised for issue by the director on 27 May 2026.

2	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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The accounts are presented in £ sterling and rounded to £1.

Judgements

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

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.

W J Mathews (Exeter) Limited

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

Contract revenue recognition

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of the work performed. Revenue not billed to customers is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Income that is contingent on events outside the control of the company is recognised when the contingent event occurs.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

The company has adopted a policy of writing off items of Plant and Machiney over ten years old and Computer Equipment over three years old.

Asset class	Depreciation method and rate
Freehold land and buildings	2% straight line basis (freehold buildings only)
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis
Computer equipment	33 1/3% straight line basis

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.

W J Mathews (Exeter) Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

W J Mathews (Exeter) Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

W J Mathews (Exeter) Limited

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

Financial instruments

Classification
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
 Recognition and measurement
Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of an outright loan not at market rate, the financial liability is measured, initially and subsequently, at the present value of the future payments discounted at market rate of interest for a similar debt instrument.
 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each accounting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carryng amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.
For finalcial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and the best estimate, whcih is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2024 - 12).

W J Mathews (Exeter) Limited

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

4	Tangible assets

	Land and buildings £	Plant, machinery and computer equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	269,351	57,153	233,935	560,439
Additions	43,505	2,485	16,090	62,080
Disposals	-	(1,207)	(66,935)	(68,142)
At 31 August 2025	312,856	58,431	183,090	554,377
Depreciation
At 1 September 2024	33,755	27,083	91,481	152,319
Charge for the year	3,128	8,861	34,409	46,398
Eliminated on disposal	-	(1,207)	(37,642)	(38,849)
At 31 August 2025	36,883	34,737	88,248	159,868
Carrying amount
At 31 August 2025	275,973	23,694	94,842	394,509
At 31 August 2024	235,596	30,070	142,454	408,120

Included within the net book value of land and buildings above is £275,973 (2024 - £235,596) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	28,950	33,275

6

Debtors

Current	2025 £	2024 £
Trade debtors	170,525	212,533
Prepayments	14,654	19,546
Other debtors	8,141	17,728
	193,320	249,807

W J Mathews (Exeter) Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	18,153	28,100
Trade creditors		46,086	86,354
Taxation and social security		53,689	29,693
Accruals and deferred income		9,200	9,279
Other creditors		3,599	2,315
		130,727	155,741

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	1,610	19,763

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	600	600	600	600
Ordinary A shares of £1 each	75	75	75	75
Ordinary B shares of £1 each	75	75	75	75
	750	750	750	750

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Finance lease liabilities	1,610	19,763

Current loans and borrowings

	2025 £	2024 £
Finance lease liabilities	18,153	28,100