2023-02-012024-01-312024-01-31false00235985MATTHEW H. WILSON & SON, 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MATTHEW H. WILSON & SON, LIMITED

Registered Number
00235985
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

MATTHEW H. WILSON & SON, LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

Miss H Wilson
Miss J H Wilson

Company Secretary

Miss H Wilson

Registered Address

39 Mitchell Avenue
Jesmond
Newcastle Upon Tyne
NE2 3JY

Registered Number

00235985 (England and Wales)
MATTHEW H. WILSON & SON, LIMITED
Statement of Financial Position
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,186,1972,186,635
2,186,1972,186,635
Current assets
Debtors29,70234,501
Cash at bank and on hand247,082548,609
276,784583,110
Creditors amounts falling due within one year4(451,716)(865,138)
Net current assets (liabilities)(174,932)(282,028)
Total assets less current liabilities2,011,2651,904,607
Net assets2,011,2651,904,607
Capital and reserves
Called up share capital38,50038,500
Profit and loss account1,972,7651,866,107
Shareholders' funds2,011,2651,904,607
The financial statements were approved and authorised for issue by the Board of Directors on 27 July 2024, and are signed on its behalf by:
Miss J H Wilson
Director
Registered Company No. 00235985
MATTHEW H. WILSON & SON, LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 and loss. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover policy
The turnover shown in the profit and loss account represents rents receivable and other costs recoverable during the year.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings12-
Office Equipment-3
Financial instruments
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.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 February 232,185,0004,3624,4382,193,800
At 31 January 242,185,0004,3624,4382,193,800
Depreciation and impairment
At 01 February 23-3,2033,9627,165
Charge for year-185253438
At 31 January 24-3,3884,2157,603
Net book value
At 31 January 242,185,0009742232,186,197
At 31 January 232,185,0001,1594762,186,635
The freehold investment properties were independently valued at 2 April 2020 by Johnson Tucker LLP, Chartered Surveyors, in accordance with the current RICS Valuation - Global Standards (The Red Book). The director considers that these valuations provide a reliable basis for the property valuations at the balance sheet date. On a historical cost basis the properties would have been included at an original cost of £2,659,922 (2023: £2,659,922).
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-14,100
Taxation and social security53,93046,184
Other creditors397,786804,854
Total451,716865,138
Included within other creditors is an amount due to the director of £331,467 (2023: £330,947).