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Company registration number: 11311464
Matthew Anthony Ltd
Unaudited filleted financial statements
30 June 2024
Matthew Anthony Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Matthew Anthony Ltd
Directors and other information
Directors A R Cohen
M A Cohen
P R Bristow (Resigned 14 December 2023)
Company number 11311464
Registered office 93a Rowlands Road
Worthing
West Sussex
BN11 3JX
Matthew Anthony Ltd
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 31,577 40,550
Investments 6 100,000 100,000
_______ _______
131,577 140,550
Current assets
Debtors 7 14,728 15,213
Cash at bank and in hand 7,342 10,879
_______ _______
22,070 26,092
Creditors: amounts falling due
within one year 8 ( 466,534) ( 457,553)
_______ _______
Net current liabilities ( 444,464) ( 431,461)
_______ _______
Total assets less current liabilities ( 312,887) ( 290,911)
_______ _______
Net liabilities ( 312,887) ( 290,911)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 312,889) ( 290,913)
_______ _______
Shareholders deficit ( 312,887) ( 290,911)
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
A R Cohen
Director
Company registration number: 11311464
Matthew Anthony Ltd
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 93a Rowlands Road, Worthing, West Sussex, BN11 3JX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20%-25% straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 July 2023 87,203 49,196 136,399
Additions 1,829 - 1,829
_______ _______ _______
At 30 June 2024 89,032 49,196 138,228
_______ _______ _______
Depreciation
At 1 July 2023 86,010 9,839 95,849
Charge for the year 963 9,839 10,802
_______ _______ _______
At 30 June 2024 86,973 19,678 106,651
_______ _______ _______
Carrying amount
At 30 June 2024 2,059 29,518 31,577
_______ _______ _______
At 30 June 2023 1,193 39,357 40,550
_______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2023 and 30 June 2024 100,000 100,000
_______ _______
Impairment
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 100,000 100,000
_______ _______
At 30 June 2023 100,000 100,000
_______ _______
Investments in group undertakings
Country of incorporation Class of share Percentage of shares held
Subsidiary undertakings
Stafford Johnson Limited England and Wales Ordinary 100
7. Debtors
2024 2023
£ £
Trade debtors 95 285
Other debtors 14,633 14,928
_______ _______
14,728 15,213
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 3,656 325
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,473 -
Social security and other taxes 10,670 8,250
Other creditors 448,735 448,978
_______ _______
466,534 457,553
_______ _______
Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 16,000 16,000
Later than 1 year and not later than 5 years 4,000 20,000
_______ _______
20,000 36,000
_______ _______
10. Controlling party
The company is a subsidiary of Holdco MAL Limited, registered in England and Wales. Its registered office is 93 Rowlands Road, Worthing, England BN11 3JX.