REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
C.L. Mathieson Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements for the Year Ended 31 October 2023 |
for |
C.L. Mathieson Limited |
C.L. Mathieson Limited (Registered number: 01253323) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
C.L. Mathieson Limited |
Company Information |
for the Year Ended 31 October 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ashleigh, |
3 Lakewood Close |
Chandlers Ford |
Hampshire |
SO53 1EY |
C.L. Mathieson Limited (Registered number: 01253323) |
Report of the Directors |
for the Year Ended 31 October 2023 |
The directors present their report with the financial statements of the company for the year ended 31 October 2023. |
The Company has changed it's year end to 31st October so as to be the same as the holding company. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
C.L. Mathieson Limited (Registered number: 01253323) |
Income Statement |
for the Year Ended 31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest payable and similar expenses |
LOSS BEFORE TAXATION | ( |
) | ( |
) |
Tax on loss |
LOSS FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
C.L. Mathieson Limited (Registered number: 01253323) |
Balance Sheet |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
C.L. Mathieson Limited (Registered number: 01253323) |
Balance Sheet - continued |
31 October 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
C.L. Mathieson Limited (Registered number: 01253323) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
C.L. Mathieson Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
C.L. Mathieson Limited (Registered number: 01253323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
31.10.23 | 31.10.22 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 November 2022 |
Additions |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
The Directors are of the opinion that the Land and Buildings are worth more than the cost shown in the balance sheet.The land and buildings consist of a 4 acre site on which stand a 35 bedroom Hotel, An entertainments venue which has a capacity of approximately 350 and incorporates bars and a 100+ cover restaurant and a second Restaurant/Bar/Function room with a capacity of approximately 80. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade debtors |
Other debtors |
C.L. Mathieson Limited (Registered number: 01253323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 1,222,395 | 1,276,709 |
9. | SECURED DEBTS |
At the 31st October 2023 the company had the balance of a 25 year mortgage of £1,093,228 and 31 months remaining on a CBILS loan of £129,166. |
The combined Monthly repayments at 31st October 2023 for these two loans were £11,709. |
The loan is secured on the 4 acre freehold site upon which the club and hotel buildings stand. It was last valued a few years back at around the £3m mark. The secured bank loan is therefore 40% of a historic valuation. We are currently awaiting the results of a new valuation. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At 31st October 2023 C.L.Mathieson Limited owed the Mathieson Directors £4,745. (2022 £4,745) |
At 31st October 2023 the company owed G.W.Martin & Co Ltd £1,724,750 (2022 £1,724,750). This amount is shown as falling due in more than one year. |
G.W. Martin & Co Ltd hold a 2nd charge over the freehold land and buildings created on 2nd August 2013. |
Mr G P P Martin FCA is a director, and the controlling shareholder, in G.W. Martin & Co Limited. As a result of this he has the ultimate contorting interest in in CL Mathieson Ltd. |
C.L. Mathieson Limited (Registered number: 01253323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is G P P Martin FCA. |