IRIS Accounts Production v24.1.4.33 01253323 Board of Directors 1.11.22 31.10.23 31.10.23 an entertainments and functions venue, with restaurants, wine bar and an hotel. false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012533232022-10-31012533232023-10-31012533232022-11-012023-10-31012533232021-10-31012533232021-11-012022-10-31012533232022-10-3101253323ns15:EnglandWales2022-11-012023-10-3101253323ns14:PoundSterling2022-11-012023-10-3101253323ns10:Director12022-11-012023-10-3101253323ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3101253323ns10:SmallEntities2022-11-012023-10-3101253323ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3101253323ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3101253323ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3101253323ns10:FullAccounts2022-11-012023-10-3101253323ns10:Director22022-11-012023-10-3101253323ns10:Director32022-11-012023-10-3101253323ns10:Director42022-11-012023-10-3101253323ns10:CompanySecretary12022-11-012023-10-3101253323ns10:RegisteredOffice2022-11-012023-10-3101253323ns5:CurrentFinancialInstruments2023-10-3101253323ns5:CurrentFinancialInstruments2022-10-3101253323ns5:Non-currentFinancialInstruments2023-10-3101253323ns5:Non-currentFinancialInstruments2022-10-3101253323ns5:ShareCapital2023-10-3101253323ns5:ShareCapital2022-10-3101253323ns5:SharePremium2023-10-3101253323ns5:SharePremium2022-10-3101253323ns5:RetainedEarningsAccumulatedLosses2023-10-3101253323ns5:RetainedEarningsAccumulatedLosses2022-10-3101253323ns5:PlantMachinery2022-11-012023-10-3101253323ns5:OwnedAssets2022-11-012023-10-3101253323ns5:OwnedAssets2021-11-012022-10-3101253323ns5:LandBuildings2022-10-3101253323ns5:PlantMachinery2022-10-3101253323ns5:LandBuildings2022-11-012023-10-3101253323ns5:LandBuildings2023-10-3101253323ns5:PlantMachinery2023-10-3101253323ns5:LandBuildings2022-10-3101253323ns5:PlantMachinery2022-10-3101253323ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3101253323ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31
REGISTERED NUMBER: 01253323 (England and Wales)















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: C L Mathieson
G P P Martin FCA
S M Yalden
J Mathieson





SECRETARY: Mrs P Mathieson





REGISTERED OFFICE: Concorde Club
The Old School House
Stoneham Lane
Eastleigh
Hampshire
SO50 9HQ





REGISTERED NUMBER: 01253323 (England and Wales)





ACCOUNTANTS: GMandCo Trading Limited
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.

C L Mathieson
G P P Martin FCA
S M Yalden
J Mathieson

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:





G P P Martin FCA - Director


28 October 2024

C.L. Mathieson Limited (Registered number: 01253323)

Income Statement
for the Year Ended 31 October 2023

31.10.23 31.10.22
Notes £    £   

TURNOVER 3,667,835 3,104,657

Cost of sales 664,616 540,102
GROSS PROFIT 3,003,219 2,564,555

Administrative expenses 3,026,305 2,656,091
OPERATING LOSS 4 (23,086 ) (91,536 )


Interest payable and similar
expenses

164,144

97,525
LOSS BEFORE TAXATION (187,230 ) (189,061 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (187,230 ) (189,061 )

C.L. Mathieson Limited (Registered number: 01253323)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,842,195 2,859,197

CURRENT ASSETS
Stocks 44,668 40,477
Debtors 6 66,552 26,902
Cash at bank and in hand 3,534 4,149
114,754 71,528
CREDITORS
Amounts falling due within one year 7 1,026,747 758,979
NET CURRENT LIABILITIES (911,993 ) (687,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,930,202

2,171,746

CREDITORS
Amounts falling due after more than
one year

8

2,947,145

3,001,459
NET LIABILITIES (1,016,943 ) (829,713 )

CAPITAL AND RESERVES
Called up share capital 31,500 31,500
Share premium 19,250 19,250
Retained earnings (1,067,693 ) (880,463 )
(1,016,943 ) (829,713 )

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.

C.L. Mathieson Limited (Registered number: 01253323)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





G P P Martin FCA - Director


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 private company, limited by shares , registered in England and Wales. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

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 65 (2022 - 65 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.10.23 31.10.22
£    £   
Depreciation - owned assets 17,398 21,337

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022 2,769,264 944,812 3,714,076
Additions - 396 396
At 31 October 2023 2,769,264 945,208 3,714,472
DEPRECIATION
At 1 November 2022 - 854,879 854,879
Charge for year - 17,398 17,398
At 31 October 2023 - 872,277 872,277
NET BOOK VALUE
At 31 October 2023 2,769,264 72,931 2,842,195
At 31 October 2022 2,769,264 89,933 2,859,197

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 23,030 7,028
Other debtors 43,522 19,874
66,552 26,902

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 38,253 25,375
Trade creditors 153,511 145,497
Taxation and social security 143,046 126,009
Other creditors 691,937 462,098
1,026,747 758,979

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 1,222,395 1,276,709
Other creditors 1,724,750 1,724,750
2,947,145 3,001,459

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.