Matthew High Contractors Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04632628 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Matthew High Contractors Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M High

SECRETARY:

Mrs J L High

REGISTERED OFFICE:

19 Prospect Road

Ossett

Wakefield

West Yorkshire

WF5 8AE

REGISTERED NUMBER:

04632628 (England and Wales)

ACCOUNTANTS:

Jacksons Chartered Accountants

Ashton House

19 Prospect Road

Ossett

West Yorkshire

WF5 8AE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,365

2,462

2,365

2,462

CURRENT ASSETS

Stocks

1,286,704

1,286,704

Debtors

6

286,481

348,717

Cash at bank

2,701,113

2,575,375

4,274,298

4,210,796

CREDITORS

Amounts falling due within one year

7

659,708

702,337

NET CURRENT ASSETS

3,614,590

3,508,459

TOTAL ASSETS LESS CURRENT LIABILITIES

3,616,955

3,510,921

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,616,855

3,510,821

SHAREHOLDERS' FUNDS

3,616,955

3,510,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2023 and were signed by:

M High - Director

1.	STATUTORY INFORMATION

Matthew High Contractors Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

50% on cost and 25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

30,000

AMORTISATION

At 1 April 2022

and 31 March 2023

30,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

52,574

Additions

690

At 31 March 2023

53,264

DEPRECIATION

At 1 April 2022

50,112

Charge for year

787

At 31 March 2023

50,899

NET BOOK VALUE

At 31 March 2023

2,365

At 31 March 2022

2,462

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

286,481

348,717

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Taxation and social security

35,681

115,961

Other creditors

624,027

586,376

659,708

702,337

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M High.