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REGISTERED NUMBER: SC712950 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

MATHERTON INVESTMENTS LIMITED

MATHERTON INVESTMENTS LIMITED (REGISTERED NUMBER: SC712950)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MATHERTON INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Dr Henry Mark Lovat
Mr Mervyn Maurice Lovat





REGISTERED OFFICE: 12 Matherton Avenue
Newton Mearns
Glasgow
G77 5EY





REGISTERED NUMBER: SC712950 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
3rd Floor
St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH

MATHERTON INVESTMENTS LIMITED (REGISTERED NUMBER: SC712950)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 59,064 59,064

CURRENT ASSETS
Cash at bank and in hand 832 2,328

CREDITORS
Amounts falling due within one year 5 58,736 65,556
NET CURRENT LIABILITIES (57,904 ) (63,228 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,160

(4,164

)

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 7 1,060 (4,264 )
SHAREHOLDERS' FUNDS 1,160 (4,164 )

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

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

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.

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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:




Dr Henry Mark Lovat - Director



Mr Mervyn Maurice Lovat - Director


MATHERTON INVESTMENTS LIMITED (REGISTERED NUMBER: SC712950)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Matherton Investments Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.

In accordance with FRS 102, investment properties are revalued annually at fair value. Changes to fair value are reflected in the profit and loss account. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The director considers that, because these properties are held to earn rental income and for their investment potential rather than for their consumption, to depreciate them would not give a true and fair view, and that it is necessary to apply FRS 102 in order to give a true and fair view.

If this departure from the Act had not been made, the reported net profit for the financial year would have been reduced by additional depreciation of £1,181 (2022; £1,181).

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 2 (2022 - 2 ) .

MATHERTON INVESTMENTS LIMITED (REGISTERED NUMBER: SC712950)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 59,064
NET BOOK VALUE
At 31 October 2023 59,064
At 31 October 2022 59,064

Fair value at 31 October 2023 is represented by:
£   
Cost 59,064

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 59,064 59,064
Aggregate depreciation (2,362 ) (1,181 )

The investment property was valued on an open market basis on 31 October 2023 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Current Corporation Tax 312 -
Directors' current accounts 57,857 64,565
Accruals and deferred income 567 991
58,736 65,556

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100

7. RESERVES
Retained
earnings
£   

At 1 November 2022 (4,264 )
Profit for the year 5,324
At 31 October 2023 1,060