1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-06 Sage Accounts Production Advanced 2023 - FRS102_2023 579,716 202,346 782,062 782,062 579,716 90,162 90,162 90,162 xbrli:pure xbrli:shares iso4217:GBP 00386995 2022-04-06 2023-04-05 00386995 2023-04-05 00386995 2022-04-05 00386995 2021-04-06 2022-04-05 00386995 2022-04-05 00386995 2021-04-05 00386995 bus:Director1 2022-04-06 2023-04-05 00386995 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 00386995 core:WithinOneYear 2023-04-05 00386995 core:WithinOneYear 2022-04-05 00386995 core:ShareCapital 2023-04-05 00386995 core:ShareCapital 2022-04-05 00386995 core:RevaluationReserve 2023-04-05 00386995 core:RevaluationReserve 2022-04-05 00386995 core:OtherReservesSubtotal 2023-04-05 00386995 core:OtherReservesSubtotal 2022-04-05 00386995 core:RetainedEarningsAccumulatedLosses 2023-04-05 00386995 core:RetainedEarningsAccumulatedLosses 2022-04-05 00386995 core:CostValuation core:Non-currentFinancialInstruments 2023-04-05 00386995 core:Non-currentFinancialInstruments 2023-04-05 00386995 core:Non-currentFinancialInstruments 2022-04-05 00386995 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-05 00386995 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-05 00386995 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-05 00386995 bus:SmallEntities 2022-04-06 2023-04-05 00386995 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 00386995 bus:SmallCompaniesRegimeForAccounts 2022-04-06 2023-04-05 00386995 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 00386995 bus:FullAccounts 2022-04-06 2023-04-05
COMPANY REGISTRATION NUMBER: 00386995
E V Matthews Limited
Filleted Unaudited Financial Statements
5 April 2023
E V Matthews Limited
Statement of Financial Position
5 April 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
782,062
579,716
Investments
6
90,162
90,162
---------
---------
872,224
669,878
Current Assets
Debtors
7
48,919
53,212
Cash at bank and in hand
3,970
143,789
--------
---------
52,889
197,001
Creditors: amounts falling due within one year
8
72,736
5,941
--------
---------
Net Current (Liabilities)/Assets
( 19,847)
191,060
---------
---------
Total Assets Less Current Liabilities
852,377
860,938
---------
---------
Net Assets
852,377
860,938
---------
---------
Capital and Reserves
Called up share capital
100
100
Fair value reserve
212,206
212,206
Other reserves
9,479
9,479
Profit and loss account
630,592
639,153
---------
---------
Shareholders Funds
852,377
860,938
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 5th April 2023 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 year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
E V Matthews Limited
Statement of Financial Position (continued)
5 April 2023
These financial statements were approved by the board of directors and authorised for issue on 13 November 2023 , and are signed on behalf of the board by:
J A Matthews
Director
Company registration number: 00386995
E V Matthews Limited
Notes to the Financial Statements
Year Ended 5th April 2023
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Middleborough House, 16 Middleborough, Colchester, Essex, CO1 1QT.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in Associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in Joint Ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial Instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible Assets
Freehold property
£
Cost
At 6th April 2022
579,716
Additions
202,346
---------
At 5th April 2023
782,062
---------
Depreciation
At 6th April 2022 and 5th April 2023
---------
Carrying amount
At 5th April 2023
782,062
---------
At 5th April 2022
579,716
---------
6. Investments
Other investments other than loans
£
Cost
At 6th April 2022 and 5th April 2023
90,162
--------
Impairment
At 6th April 2022 and 5th April 2023
--------
Carrying amount
At 5th April 2023
90,162
--------
At 5th April 2022
90,162
--------
7. Debtors
2023
2022
£
£
Trade debtors
3,614
7,907
Other debtors
45,305
45,305
--------
--------
48,919
53,212
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,794
4,185
Social security and other taxes
618
180
Other creditors
500
502
Other creditors
66,824
1,074
--------
-------
72,736
5,941
--------
-------