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REGISTERED NUMBER: 02866321 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 December 2022

for


GORDON MATTHEWS (U.K.) LIMITED


GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)







Contents of the Financial Statements

for the Year Ended 31 December 2022





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4



Report of the Accountants  

8



GORDON MATTHEWS (U.K.) LIMITED


Company Information

for the Year Ended 31 December 2022









DIRECTOR:

L Michaelides







REGISTERED OFFICE:

18-20 Frognal


London


NW3 6AG







REGISTERED NUMBER:

02866321 (England and Wales)







ACCOUNTANTS:

Tasos Papaloizou Chartered Accountants


Suite 1


The Golf Club


Darkes Lane


Potters Bar


EN6 1DE


GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Balance Sheet

31 December 2022



31.12.22

31.12.21



Notes

£   

£   

£   

£   


FIXED ASSETS

Investment property

4

800,000


800,000




CURRENT ASSETS

Debtors

5

3,755,972


3,710,103



Cash at bank

1,438


740



3,757,410


3,710,843



CREDITORS

Amounts falling due within one year

6

2,299,501


2,290,820



NET CURRENT ASSETS

1,457,909


1,420,023



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,257,909


2,220,023




CREDITORS

Amounts falling due after more than one

year

7

(409,046

)

(415,398

)



PROVISIONS FOR LIABILITIES

9

(128,849

)

(128,849

)


NET ASSETS

1,720,014


1,675,776




CAPITAL AND RESERVES

Called up share capital

10

2


2



Fair value reserve

11

722,713


722,713



Retained earnings

11

997,299


953,061



SHAREHOLDERS' FUNDS

1,720,014


1,675,776




The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.  


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.


GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Balance Sheet - continued

31 December 2022



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 director and authorised for issue on 30 April 2024 and were signed by:






L Michaelides - Director



GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Notes to the Financial Statements

for the Year Ended 31 December 2022


1.

STATUTORY INFORMATION



GORDON MATTHEWS (U.K.) 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.


The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.    



Turnover

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


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.


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.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 1 (2021 - 1 ) .


GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2022


4.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 January 2022


and 31 December 2022

800,000




NET BOOK VALUE


At 31 December 2022

800,000




At 31 December 2021

800,000





Fair value at 31 December 2022 is represented by:

£   



Valuation in 2004

117,999




Valuation in 2005

9,000




Valuation in 2006

18,900




Valuation in 2007

62,001




Valuation in 2018

592,100



800,000





Investment Property was valued on at open market basis on 31 December 2022 by the Director               L Michaelides  .


5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.22


31.12.21

£   

£   



Trade debtors

6,000


6,000




Amounts owed by connected companies

1,018,248


1,028,648




Other debtors

2,731,724


2,675,455



3,755,972


3,710,103




6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.12.22


31.12.21

£   

£   



Bank loans and overdrafts

3,176


-




Amounts owed to connected companies

2,126,144


2,069,572




Taxation and social security

52,241


108,308




Other creditors

117,940


112,940



2,299,501


2,290,820




7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.12.22


31.12.21

£   

£   



Bank loans

409,046


415,398




GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2022


7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued


31.12.22


31.12.21

£   

£   



Amounts falling due in more than five years:



Repayable otherwise than by instalments


Bank loans more 5 yrs non-inst

396,342


367,538




8.

SECURED DEBTS



The Bank Loan repayable after more than 5 years is secured by way of a legal mortgage over the Investment Property.


9.

PROVISIONS FOR LIABILITIES


31.12.22


31.12.21

£   

£   



Deferred tax

128,849


128,849





Deferred



tax


£   



Balance at 1 January 2022

128,849




Balance at 31 December 2022

128,849




10.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.12.22


31.12.21


value:

£   

£   



2

Ordinary

1

2


2




11.

RESERVES


Fair



Retained


value



earnings


reserve


Totals

£   

£   

£   




At 1 January 2022

953,061


722,713


1,675,774




Profit for the year

44,238


44,238




At 31 December 2022

997,299


722,713


1,720,012




GORDON MATTHEWS (U.K.) LIMITED (Registered number: 02866321)


Notes to the Financial Statements - continued

for the Year Ended 31 December 2022


12.

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES



The following advances and credits to a director a director subsisted during the years ended 31 December 2022 and 31 December 2021:



31.12.22


31.12.21

£   

£   



L Michaelides


Balance outstanding at start of year

2,145,569


2,046,254




Amounts advanced

56,819


99,315




Amounts repaid

-


-




Amounts written off

-


-




Amounts waived

-


-




Balance outstanding at end of year

2,202,388


2,145,569




The above loan was made contrary to the provisions of section 330 of the companies Act 2006. The balance includes interest charged at official HM Revenue and Customs rates of £49,945


GORDON MATTHEWS (U.K.) LIMITED


Report of the Accountants to the Director of

GORDON MATTHEWS (U.K.) LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2022 set out on pages three to ten and you consider that the company is exempt from an audit.  


In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.  







Tasos Papaloizou Chartered Accountants

Suite 1

The Golf Club

Darkes Lane

Potters Bar

EN6 1DE



Date: .............................................