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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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Matthews Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2018 |
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for |
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Matthews Properties Limited |
Matthews Properties Limited (Registered number: 04648262) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Matthews Properties Limited |
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Company Information |
for the Year Ended 31 March 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Oak Apple House |
North Street |
Milborne Port |
Sherborne |
Dorset |
DT9 5EW |
Matthews Properties Limited (Registered number: 04648262) |
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Statement of Financial Position |
31 March 2018 |
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31.3.18 | 31.3.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Fair value reserve | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
Matthews Properties Limited (Registered number: 04648262) |
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Statement of Financial Position - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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Matthews Properties Limited (Registered number: 04648262) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Matthews Properties Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Matthews Properties Limited (Registered number: 04648262) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2017 |
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Additions |
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Disposals |
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At 31 March 2018 |
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DEPRECIATION |
At 1 April 2017 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2017 |
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Additions |
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Disposals | ( |
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Revaluations | 98,785 |
At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 31 March 2017 |
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At 31 March 2017 the properties have been valued at open market value by the director, G C |
Matthews, who is a Chartered Surveyor. |
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The valuation at 31 March 2018 comprised cost of £3,917,615 (2017 : £4,630,476) and net change in |
open market value of £289,885 (2017: reduction £30,476). |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Trade debtors |
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Other debtors |
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Matthews Properties Limited (Registered number: 04648262) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans due after 5 years |
by instalments | 1,134,633 | 1,263,986 |
1,134,633 | 1,263,986 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 31.3.17 |
£ | £ |
Bank loans |
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Borrowing is secured by charges on the investment property. |
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10. | PROVISIONS FOR LIABILITIES |
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There is no liability to deferred tax on the investment property due to the availability of indexation |
allowance. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.18 | 31.3.17 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
Matthews Properties Limited (Registered number: 04648262) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2017 | ( |
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Arising on revaluation | 320,361 |
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At 31 March 2018 |
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13. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £39,600 were paid to the directors . |