Company No: 09685028 (England and Wales)

Contents

• Company Information
• Accountants' Report
• Balance Sheet
• Notes to the Financial Statements

Directors	Matthew Paget
	Sharon Mary Paget

Registered office	2nd Floor
	Maritime Place Quayside
	Chatham Maritime
	Chatham
	ME4 4QZ
	United Kingdom

Company number

09685028 (England and Wales)

Accountant	Kreston Reeves LLP
	Suite 2
	Orchard House
	Orchard Street
	Canterbury
	Kent
	CT2 8AR

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Matthew Paget Limited for the financial year ended 31 January 2026 which comprise the Balance Sheet and the related notes 1 to 12 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

This report is made solely to the Board of Directors of Matthew Paget Limited, as a body, in accordance with the terms of our engagement letter dated 14 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Matthew Paget Limited and state those matters that we have agreed to state to the Board of Directors of Matthew Paget Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matthew Paget Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Matthew Paget 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 Paget Limited. You consider that Matthew Paget Limited is exempt from the statutory audit requirement for the financial year.

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

Kreston Reeves LLP

Suite 2
Orchard House
Orchard Street
Canterbury
Kent
CT2 8AR

13 October 2026

	Note	2026		2025
		£		£
Fixed assets
Intangible assets	3	0		2,000
Tangible assets	4	135,493		176,165
Investments	5	40,000		40,000
		175,493		218,165
Current assets
Stocks		309,330		284,361
Debtors
- due within one year	6	41,499		38,211
- due after more than one year	6	336,268		331,751
Cash at bank and in hand		164,765		126,832
		851,862		781,155
Creditors: amounts falling due within one year	7	( 440,405)		( 442,093)
Net current assets		411,457		339,062
Total assets less current liabilities		586,950		557,227
Creditors: amounts falling due after more than one year	8	( 20,720)		( 33,731)
Provision for liabilities	9	( 30,691)		( 40,192)
Net assets		535,539		483,304
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		535,439		483,204
Total shareholders' funds		535,539		483,304

For the financial year ending 31 January 2026 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Matthew Paget Limited (registered number: 09685028) were approved and authorised for issue by the Board of Directors on 13 October 2026. They were signed on its behalf by:

Sharon Mary Paget Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Matthew Paget Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37 St Margaret's Street, Canterbury, CT1 2TU, United Kingdom. The principal place of business address is Old Deer Park, Twickenham Road, Richmond, TW9 2SB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company’s trade, its customers and suppliers. However, taking into consideration the UK Government’s response and the company’s planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

10 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Fixtures and fittings	5 years straight line
Office equipment	5 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals paid under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	25		26

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 February 2025	40,000		40,000
At 31 January 2026	40,000		40,000
Accumulated amortisation
At 01 February 2025	38,000		38,000
Charge for the financial year	2,000		2,000
At 31 January 2026	40,000		40,000
Net book value
At 31 January 2026	0		0
At 31 January 2025	2,000		2,000

4. Tangible assets

	Leasehold improve- ments		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 February 2025	254,558		13,700		30,730		135,297		434,285
Additions	0		0		1,375		4,850		6,225
Disposals	0		0		( 350)		( 6,444)		( 6,794)
At 31 January 2026	254,558		13,700		31,755		133,703		433,716
Accumulated depreciation
At 01 February 2025	120,730		10,365		19,052		107,973		258,120
Charge for the financial year	25,456		2,345		5,957		13,139		46,897
Disposals	0		0		( 350)		( 6,444)		( 6,794)
At 31 January 2026	146,186		12,710		24,659		114,668		298,223
Net book value
At 31 January 2026	108,372		990		7,096		19,035		135,493
At 31 January 2025	133,828		3,335		11,678		27,324		176,165

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 February 2025	40,000		40,000
At 31 January 2026	40,000		40,000
Carrying value at 31 January 2026	40,000		40,000
Carrying value at 31 January 2025	40,000		40,000

6. Debtors

	2026		2025
	£		£
Debtors: amounts falling due within one year
Trade debtors	36,582		30,171
Other debtors	4,917		8,040
	41,499		38,211
Debtors: amounts falling due after more than one year
Other debtors	336,268		331,751

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	14,630		27,313
Trade creditors	280,090		283,087
Other loans	7,709		5,459
Accruals and deferred income	13,621		30,626
Taxation and social security	120,333		90,168
Obligations under finance leases and hire purchase contracts	0		1,602
Other creditors	4,022		3,838
	440,405		442,093

8. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	20,720		28,731
Other loans	0		5,000
	20,720		33,731

There are no amounts included above in respect of which any security has been given by the small entity.

9. Provision for liabilities

	2026		2025
	£		£
Deferred tax	14,691		24,192
Other provisions	16,000		16,000
	30,691		40,192

10. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each	100		100

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2026		2025
	£		£
Within one year	21,938		16,448
Between one and five years	29,469		30,289
	51,407		46,737

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2026		2025
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	4,022		3,838

12. Related party transactions

Transactions with the entity's directors

Director's remuneration paid by the company during the year was done so under normal market conditions.