Matgol Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04798109 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Matgol Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S LEE

H S LEE

REGISTERED OFFICE:

39-41 North Road

London

N7 9DP

REGISTERED NUMBER:

04798109 (England and Wales)

ACCOUNTANTS:

EKB Accountancy Services Ltd

Certified Accountants

39-41 North Road

London

N7 9DP

FIXED ASSETS

Tangible assets

4

19,137

25,516

CURRENT ASSETS

Stocks

1,650

775

Debtors

5

62,575

127,850

Cash at bank and in hand

9,184

87,517

73,409

216,142

CREDITORS

Amounts falling due within one year

6

87,915

122,722

NET CURRENT (LIABILITIES)/ASSETS

(14,506

)

93,420

TOTAL ASSETS LESS CURRENT LIABILITIES

4,631

118,936

CREDITORS

Amounts falling due after more than one year

7

49,113

117,980

NET (LIABILITIES)/ASSETS

(44,482

)

956

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(44,582

)

856

SHAREHOLDERS' FUNDS

(44,482

)

956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 April 2022 and were signed on its behalf by:

J S LEE - Director

1.	STATUTORY INFORMATION

Matgol Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These 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 have been prepared under the historical cost convention.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

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 year was 8 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

99,338

DEPRECIATION

At 1 July 2020

and 30 June 2021

80,201

NET BOOK VALUE

At 30 June 2021

19,137

At 30 June 2020

19,137

5.

DEBTORS

30.6.21

30.6.20

£

£

Amounts falling due within one year:

Other debtors

1,265

-

Amounts falling due after more than one year:

Other debtors

61,310

127,850

Aggregate amounts

62,575

127,850

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Taxation and social security

28,482

30,889

Other creditors

59,433

91,833

87,915

122,722

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

49,113

50,000

Other creditors

-

67,980

49,113

117,980

8.	SECURED DEBTS

The company's banking facilities are secured by a a mortgage debenture incorporating a fixed and floating charge over all current and future assets of the company.