Sutton Matthews Holdings Ltd 13770663 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of letting and management of the company's own property. Digita Accounts Production Advanced 6.30.9574.0 true 13770663 2023-04-01 2024-03-31 13770663 2024-03-31 13770663 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13770663 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 13770663 bus:SmallEntities 2023-04-01 2024-03-31 13770663 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13770663 bus:FilletedAccounts 2023-04-01 2024-03-31 13770663 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13770663 bus:RegisteredOffice 2023-04-01 2024-03-31 13770663 bus:Director1 2023-04-01 2024-03-31 13770663 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13770663 countries:EnglandWales 2023-04-01 2024-03-31 13770663 2023-03-31 13770663 2021-11-29 2023-03-31 13770663 2023-03-31 13770663 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13770663 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13770663

Sutton Matthews Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Sutton Matthews Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Sutton Matthews Holdings Ltd

(Registration number: 13770663)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

315,000

292,139

Current assets

 

Cash at bank and in hand

 

10,331

8,562

Creditors: Amounts falling due within one year

5

(117,052)

(95,660)

Net current liabilities

 

(106,721)

(87,098)

Total assets less current liabilities

 

208,279

205,041

Creditors: Amounts falling due after more than one year

5

(182,390)

(207,325)

Provisions for liabilities

(4,344)

-

Net assets/(liabilities)

 

21,545

(2,284)

Capital and reserves

 

Called up share capital

1

1

Other reserves

18,517

-

Retained earnings

3,027

(2,285)

Shareholders' funds/(deficit)

 

21,545

(2,284)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Sutton Matthews Holdings Ltd

(Registration number: 13770663)
Balance Sheet as at 31 March 2024

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 October 2024
 

.........................................
Mr J P Matthews
Director

 

Sutton Matthews Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
71 Victoria Road
Old Town
Swindon
Wilts
SN1 3BB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the management and rental of an investment property in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Sutton Matthews Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 April

292,139

Fair value adjustments

22,861

At 31 March

315,000

There has been no valuation of investment property by an independent valuer.

 

Sutton Matthews Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

5,622

-

Taxation and social security

 

710

-

Other creditors

 

110,720

95,660

 

117,052

95,660

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

182,390

207,325

Creditors include loans which are secured of £118,012 (2023: £207,325). The loan is secured aginst the company's investment property.