Matt Fiddes Academies Limited Filleted accounts for Companies House (small and micro)

MATT FIDDES ACADEMIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08133193

MATT FIDDES ACADEMIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2022

MATT FIDDES ACADEMIES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2022

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

MATT FIDDES ACADEMIES LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	M R J Fiddes

Company secretary	Mrs. M. Fiddes

Registered office	10-12 High Street
	Barnes
	London
	SW13 9LW

Accountants	Wilkins Southworth
	Chartered Certified Accountants
	10-12 High Street
	Barnes
	London
	SW13 9LW

MATT FIDDES ACADEMIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2022

	2022		2021
			(restated)
Note	£	£	£

FIXED ASSETS

Tangible assets	5		2,731	3,259

CURRENT ASSETS

Stocks		23,599	19,052
Debtors	6	265,101	20,325
Cash at bank and in hand		398,916	414,637
		-----------	-----------
		687,616	454,014

CREDITORS: amounts falling due within one year	7	353,910		205,065
		-----------		-----------
NET CURRENT ASSETS			333,706	248,949
			-----------	-----------
TOTAL ASSETS LESS CURRENT LIABILITIES			336,437	252,208

CREDITORS: amounts falling due after more than one year	8		63,333	81,667

PROVISIONS

Taxation including deferred tax	–	619
	-----------	-----------
NET ASSETS	273,104	169,922
	-----------	-----------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	273,004	169,822
	-----------	-----------
SHAREHOLDERS FUNDS	273,104	169,922
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

MATT FIDDES ACADEMIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2022

For the year ending 31 May 2022 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 February 2023 , and are signed on behalf of the board by:

M R J Fiddes
Director

Company registration number: 08133193

MATT FIDDES ACADEMIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MAY 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10-12 High Street, Barnes, London, SW13 9LW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Plant and machinery	-	Over 4 years

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2021: 2 ).

5. Tangible assets

	Plant and machinery
	£
Cost
At 1 June 2021 (as restated)	5,798
Additions	1,208
	--------
At 31 May 2022	7,006
	--------
Depreciation
At 1 June 2021	2,539
Charge for the year	1,736
	--------
At 31 May 2022	4,275
	--------
Carrying amount
At 31 May 2022	2,731
	--------
At 31 May 2021	3,259
	--------

6. Debtors

	2022	2021
		(restated)
	£	£
Other debtors	265,101	20,325
	-----------	---------

7. Creditors: amounts falling due within one year

	2022	2021
		(restated)
	£	£
Bank loans and overdrafts	20,000	18,333
Trade creditors	3,601	3,600
Corporation tax	103,845	101,348
Social security and other taxes	22,684	46,394
Other creditors	203,780	35,390
	-----------	-----------
	353,910	205,065
	-----------	-----------

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

	2022	2021
		(restated)
	£	£
Bank loans and overdrafts	63,333	81,667
	---------	---------

9. Prior period adjustments

The financial statements have been restated to incorporate an omission of dividends declared in the year ended 31 May 2020 of £50,000 and the year ended 31 May 2021 of £41,212. This has resulted in the reserves at 31 May 2021 to decrease by £91,212 to £169,822.

10. Director's advances, credits and guarantees

The following is a summary of the directors' transactions with the company during the year.


		£
	Balance b/fwd as at 1 June 2021	61,036
	Amount repaid	( 61,036)
		---------
	Balance due to the company as at 31 May 2022	–
		---------