Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31truetruetruetrue2022-09-01No description of principal activity22truefalse 07714484 2022-08-31 07714484 2022-09-01 2023-08-31 07714484 2021-09-01 2022-08-31 07714484 2023-08-31 07714484 c:CompanySecretary1 2022-09-01 2023-08-31 07714484 c:Director1 2022-09-01 2023-08-31 07714484 c:Director2 2022-09-01 2023-08-31 07714484 c:RegisteredOffice 2022-09-01 2023-08-31 07714484 d:CurrentFinancialInstruments 2023-08-31 07714484 d:CurrentFinancialInstruments 2022-08-31 07714484 c:OrdinaryShareClass1 2022-09-01 2023-08-31 07714484 c:OrdinaryShareClass1 2023-08-31 07714484 c:OrdinaryShareClass1 2022-08-31 07714484 c:OrdinaryShareClass2 2022-09-01 2023-08-31 07714484 c:OrdinaryShareClass2 2023-08-31 07714484 c:OrdinaryShareClass2 2022-08-31 07714484 c:OrdinaryShareClass3 2022-09-01 2023-08-31 07714484 c:OrdinaryShareClass3 2023-08-31 07714484 c:OrdinaryShareClass3 2022-08-31 07714484 c:EntityHasNeverTraded 2022-09-01 2023-08-31 07714484 c:FRS102 2022-09-01 2023-08-31 07714484 c:Audited 2022-09-01 2023-08-31 07714484 c:FullAccounts 2022-09-01 2023-08-31 07714484 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07714484 d:Subsidiary1 2022-09-01 2023-08-31 07714484 d:Subsidiary1 1 2022-09-01 2023-08-31 07714484 d:Subsidiary2 2022-09-01 2023-08-31 07714484 d:Subsidiary2 1 2022-09-01 2023-08-31 07714484 d:Subsidiary3 2022-09-01 2023-08-31 07714484 d:Subsidiary3 1 2022-09-01 2023-08-31 07714484 6 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07714484










ST MATTHEWS HOLDINGS LIMITED










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
ST MATTHEWS HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
K K Sandhu 
N S Sidhu Brar 




Company secretary
A Sidhu Brar



Registered number
07714484



Registered office
Boughton House Broomhill
Holdenby road

Spratton

Northampton

NN6 8LD




Independent auditor
MHA

Century House

The Lakes

Northampton

NN4 7HD





 
ST MATTHEWS HOLDINGS LIMITED
 

CONTENTS



Page
Strategic Report
 
1 - 2
Directors' Report
 
3 - 4
Independent Auditor's Report
 
5 - 7
Statement of Income and Retained Earnings
 
8
Balance Sheet
 
9
Notes to the Financial Statements
 
10 - 15

 
ST MATTHEWS HOLDINGS LIMITED
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2023

Introduction
 
The directors present the Stategic Report and financial statements for the year ended 31 August 2023.

Business review
 
The principal activity of the Company continued to be that of a intermediate holding company.

Principal risks and uncertainties
 
The Company is an intermediate holding company with no trading activity. As a result the directors do not believe there are any principal risks or uncertainties to report.

Financial and non financial key performance indicators
 
The Company is an intermediate holding company with no trading activity. As a result the directors do not believe there are any financial or non financial key performance indicators to report.

Going concern

The financial statements have been prepared on a going concern basis. The Directors have a reasonable expectation and consider that the Group has sufficient resources to continue in operations for the foreseeable future.  The directors do, however, acknowledge that uncertainty around the timing of re-admissions due to the delayed rating report of The Broomhill Hospital (caused by internal IT technical issues within CQC) and the maturity of the loan liabilities falling due within one year, may be perceived as material uncertainties that may cast some doubt on the ability of the group to continue as a going concern.  Further details of this assessment can be found in note 2.3 of the financial statements.

Future Developments

The Company is an intermediate holding company with no trading activity. The directors believe this to be continuing. 

Page 1

 
ST MATTHEWS HOLDINGS LIMITED
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023

Directors' statement of compliance with duty to promote the success of the Company
 
Section 172(1) Statement 
The Board of Directors always consider, both individually and together, that they have acted in the way they
consider, in good faith, would be most likely to promote the success of the Group for the benefit of its
members, having regard to the stakeholders and matters set out in s172(1) (a) - (f) of the Companies Act 2006
in the decisions taken during the year ended 31 August 2023. 
Our plan is designed to have long-term beneficial impact on the Group and to contribute to its success in
delivering a high quality of service across all our business divisions. 
Our employees are fundamental to the delivery of our plan. We aim to be a responsible employer in our
approach to the pay and benefits our employees receive. The health, safety and well-being of our employees is
one of our primary considerations in the way we conduct our business. Engagement with suppliers and
customers is also key to our success, taking appropriate action where necessary, to prevent involvement in
modern slavery, corruption, bribery, and breaches of competition law. 
Our plan considers the impact of the Group's operations on the community and environment and our wider
social responsibilities, and how we comply with environmental legislation and pursue waste-saving opportunities
and react promptly to local concerns. 
As the Board of Directors, our intention is to behave in a responsible manner, operating within the high standards
of business conduct and good governance expected for a business such as ours and in doing so, will contribute
to the delivery of our plan. The intention is to nurture our reputation, through both construction and delivery of our
plan, that reflects our values, beliefs, and culture. 
We will also behave responsibly towards all our enlightened shareholders and treat them fairly and equally, so
they too may benefit from the successful delivery of our plan. 
Details and examples of actions taken by the Directors during the year to promote the success of the Group
are detailed in the principal activity and business review and principal risks and uncertainties sections of this
report. 


This report was approved by the board and signed on its behalf.



................................................
K K Sandhu
Director

Date: 1 October 2024
Page 2

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 AUGUST 2023

The directors present their report and the financial statements for the year ended 31 August 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Directors

The directors who served during the year were:

K K Sandhu 
N S Sidhu Brar 

Engagement with suppliers, customers and others

The Group strives to provide a high quality service to both our service users and funders.  This is delivered through the comprehensive and extensive quality management systems that support all aspects of the Groups delivery.  The recruitment, retention and training processes are designed to ensure our staff are equipped to provide highest quality of  service to support the needs of our service users.  The Group consults regularly with its customers through surveys as well as receiving feedback directly from communications with our employees.
Our suppliers are fundamental to our ability to deliver safe and quality care.  The Group aims to develop open and honest communication with its key suppliers to ensure the relationships are mutually beneficial and support the needs of our service users.

Page 3

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023

Matters covered in the Strategic Report

In accordance with Section 414c (ii) of the Companies Act 2006, the Directors have chosen to include the following item in the Strategic report:
- Future developments

Disclosure of information to auditor

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information.

Auditor

 A resolution to reappoint MHA as independent auditor will be proposed at the next Annual General Meeting. 

This report was approved by the board and signed on its behalf.
 





................................................
K K Sandhu
Director

Date: 1 October 2024

Boughton House Broomhill
Holdenby road
Spratton
Northampton
NN6 8LD
Page 4

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST MATTHEWS HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of St Matthews Holdings Limited (the 'Company') for the year ended 31 August 2023, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 August 2023 and of its result for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Material uncertainty related to going concern


We draw attention to Note 2.3 in the financial statements, which indicates that the group, which this entity belongs to, received an Inadequate Care Quality Commission rating in February 2024, resulting in the inactivity of admissions for the largest care facility. This note also refers to the bank loan facility terms which extend to a period of fewer than twelve months
As stated in Note 2.3, these events or conditions, along with other matters as set forth in Note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.


In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 5

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST MATTHEWS HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and  our Auditor's Report thereon.  The directors are responsible for the other information contained within the Annual Report.  Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST MATTHEWS HOLDINGS LIMITED (CONTINUED)


Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Enquiry of management around actual and potential litigation and claims;
- Enquiry of staff to identify any instances of non-compliance with laws and regulations;
-  Performing audit work over the risk of management override of controls, including testing of journal    entries and other adjustments for appropriateness and review of accounting estimates for bias;
- Reviewing financial statement disclosures and testing supporting documentation to assess compliance    with applicable laws and regulations.


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Rebecca Hughes BSc(Hons) FCCA (Senior Statutory Auditor)
for and on behalf of
MHA
Northampton, United Kingdom

Date: 3 October 2024
MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313)
Page 7

 
ST MATTHEWS HOLDINGS LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 AUGUST 2023

2023
2022
£
£

  

Profit after tax
  
-
-

  

  

Retained earnings at the end of the year
  
There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of income and retained earnings.

There was no other comprehensive income for 2023 (2022:£NIL).
All activities derive from continuing operations.
The notes on pages 10 to 15 form part of these financial statements.
Page 8

 
ST MATTHEWS HOLDINGS LIMITED
REGISTERED NUMBER: 07714484

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 6 
102
102

Current assets
  

Debtors: amounts falling due within one year
 7 
100
100

Creditors: amounts falling due within one year
 8 
(2)
(2)

Net current assets
  
 
 
98
 
 
98

Total assets less current liabilities
  
200
200

Net assets
  
200
200


Capital and reserves
  

Called up share capital 
 9 
200
200


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N S Sidhu Brar
Director

Date: 1 October 2024

The notes on pages 10 to 15 form part of these financial statements.
Page 9

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

St Matthews Holdings Limited is a private company limited by shares, incorporated in England and Wales, registered number 07714484. The registered office is Boughton House, Holdenby Road, Spratton, Northampton, NN6 8LD.
The functional and presentational currency of the Company and the Group is pounds sterling (£) and
rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Seebeck 122 Limited as at 31 August 2023 and these financial statements may be obtained from Companies House.

Page 10

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.3

Going concern

The financial statements have been prepared on a going concern basis. The Directors have a reasonable expectation and consider that the Company has sufficient resources to continue in operations for the foreseeable future.  To support this consideration, the Directors have prepared budgets for the coming 12 months as well as forecasts of future performance (which include future cash flows). These budgets and forecast have reflected not only the increased occupancy anticipated but also other regulatory and governmental challenges as well as staff investment needed to meet the expected growth of occupancy. The mitigating actions being undertaken in response to Care Quality Commission (CQC) and local Integrated Care Board (ICB) inspections, have been critical in the assumptions used in the evaluation of future occupancy and therefore performance.  In particular, the Directors have assessed, conservatively, the growth in occupancy of its largest hospital facility, The Broomhill Hospital, following its re-rating by CQC to “Requires Improvement”. 
Despite the current actions being taken and the comments below, the directors do, however, acknowledge that uncertainty around the timing of re-admissions due to the delayed rating report of The Broomhill Hospital (caused by internal IT technical issues within CQC) and the maturity of the loan liabilities falling due within one year, may be perceived as material uncertainties that may cast some doubt on the ability of the company to continue as a going concern. However, the Directors believe strongly that there is sufficient evidence to support their confidence that these challenges can be met.
(i) The Directors have an expectation to see admissions commence following the circulation of an open letter from the Chief Nursing Officer of the local ICB to all stakeholders.  They have confirmed the unexpected serious IT challenges being faced by CQC (who acknowledged this occurrence and impact) in publishing the new report on their portal.  This communication intervention has not only seen an increase in discussions about referral of new cases for Broomhill but also paved a pathway for long term strategic collaborative partnerships. New placements are now being approved for admission by the respective funders.  Furthermore, a clear timeline and phases of admissions was identified by them, confirming the importance of this hospital to the ICB and their continued support of Broomhill.   
(ii) With the backing from and relationship with their banks, the Directors strongly believe that these facilities will be renegotiated to beyond the current terms and point to a number of important key factors: (a) the support being provided by the banks in refinancing its facilities over the last few years and (b) the continued support being provided as evidenced in the latest agreed refinancing of the existing facility agreement, provided to align with the Group’s current needs.
On this basis, and having given due regards to the main issues, the Directors continue to believe that the going concern basis of accounting in preparing the financial statements remains appropriate. 

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 11

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described above, management have been required to make judgments, estimates and assumptions. These estimates which relate to the carrying values of assets and liabilities, where not readily available from other sources, are based on underlying assumptions and experience. Actual results may differ from these estimates. These estimates and assumptions are reviewed on an on-going basis.


4.


Auditor's remuneration

The audit fee for the Company is bourne by its subsidiaries.





5.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Managers
2
2


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
102



At 31 August 2023
102




Page 12

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

St Matthews Limited
Boughton House, Holdenby Road, Spratton, Northampton, NN6 8LD
Ordinary
100%
St Matthews (North) Limited
Boughton House, Holdenby Road, Spratton, Northampton, NN6 8LD
Ordinary
100%
St Matthews (West) Limited
Boughton House, Holdenby Road, Spratton, Northampton, NN6 8LD
Ordinary
100%

Page 13

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

7.


Debtors

2023
2022
£
£


Other debtors
100
100



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
2
2



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



800 (2022 - 800) Ordinary shares of £0.10 each
80
80
800 (2022 - 800) Ordinary shares of £0.10 each
80
80
400 (2022 - 400) Ordinary shares of £0.10 each
40
40

200

200

All shares carry equal voting rights and rights to distributions.



10.


Contingent liabilities

The Company is a party to a composite bank guarantee in respect of all borrowing of the Seebeck 122
group (comprising St Matthews Holdings Limited, St Matthews Limited, St Matthews (West) Limited and St Matthews (North) Limited) advanced by Santander bank. At the balance sheet date such borrowing
amounted to £22.3 million (2022 - £22.7 million).


11.


Related party transactions

The Company has taken advantage of the exemptions available under FRS102 s33.1A not to report transactions with fellow group members wholly owned by the ultimate parent undertaking.

Page 14

 
ST MATTHEWS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

12.


Controlling party

The ultimate parent undertaking is Seebeck 122 Limited, a limited liability company registered in England and Wales. This ultimate parent company heads both the smallest and largest group for which consolidated financial statements containing the results and position of the Company are prepared and copies of these can be obtained from Seebeck 122 Limited's registered office at Boughton House, Holdenby Road, Spratton, Northampton, NN6 8LD. 
In the opinion of the directors there is no ultimate controlling party of St Matthews Holdings Limited. 

Page 15