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REGISTERED NUMBER: 07471519 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024

FOR

MATTWELL DEVELOPMENTS LIMITED

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 January 2023 to 30 June 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MATTWELL DEVELOPMENTS LIMITED

COMPANY INFORMATION
For The Period 1 January 2023 to 30 June 2024







DIRECTORS: M N Helliwell
J Helliwell





REGISTERED OFFICE: 135 High Street
Godalming
Surrey
GU7 1AF





REGISTERED NUMBER: 07471519 (England and Wales)

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

ABRIDGED BALANCE SHEET
30 June 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 80,117 125,528
Investments 5 1,552,174 842,460
1,632,291 967,988

CURRENT ASSETS
Debtors 4,874,107 4,742,445
Cash at bank and in hand 161,252 877,211
5,035,359 5,619,656
CREDITORS
Amounts falling due within one year 739,795 256,583
NET CURRENT ASSETS 4,295,564 5,363,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,927,855

6,331,061

CREDITORS
Amounts falling due after more than one year (6,084,260 ) (6,105,582 )

PROVISIONS FOR LIABILITIES (85,173 ) (23,850 )
NET (LIABILITIES)/ASSETS (241,578 ) 201,629

CAPITAL AND RESERVES
Called up share capital 280 280
Capital redemption reserve 120 120
Retained earnings (241,978 ) 201,229
(241,578 ) 201,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 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.

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

ABRIDGED BALANCE SHEET - continued
30 June 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





M N Helliwell - Director


MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 January 2023 to 30 June 2024


1. STATUTORY INFORMATION

Mattwell Developments 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
The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, which the directors consider to be appropriate, as they have agreed not to withdraw their loan accounts and to provide the necessary finance to enable the company to meet its liabilities as they fall due.

Revenue
Turnover represents sales of property development and associated advisory services, excluding value added tax, performed during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings-25% on cost
Motor vehicles-25% on reducing balance
Computer equipment-33.33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost, expect for investments in shares which are measured at cost less impairment. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods.

Current and deferred tax assets and liabilities are not discounted and are 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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate.

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 June 2024


2. ACCOUNTING POLICIES - continued

Investments in listed investments
Investments in listed investments are included at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 185,433
Additions 5,342
At 30 June 2024 190,775
DEPRECIATION
At 1 January 2023 59,905
Charge for period 50,753
At 30 June 2024 110,658
NET BOOK VALUE
At 30 June 2024 80,117
At 31 December 2022 125,528

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 January 2023 842,460
Revaluations 709,714
At 30 June 2024 1,552,174
NET BOOK VALUE
At 30 June 2024 1,552,174
At 31 December 2022 842,460

Cost or valuation at 30 June 2024 is represented by:
Totals
£   
Valuation in 2022 (57,831 )
Valuation in 2024 310,329
Cost 1,299,676
1,552,174

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 June 2024


5. FIXED ASSET INVESTMENTS - continued

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2022
£    £   
Cost 1,299,676 900,291

Listed investments were valued on an open market basis on 28 June 2024 by Hargreaves Lansdown .

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2022
£    £   
Net obligations repayable:
Within one year 14,215 14,214
Between one and five years 84,260 105,582
98,475 119,796

Non-cancellable operating leases
2024 2022
£    £   
Within one year 30,000 30,000
Between one and five years 15,000 60,000
45,000 90,000

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 30 June 2024, the directors had loaned the company £6,460,947 (2022 - £6,079,614), of which £6,000,000 (2022 - £6,000,000) is due after more than one year, subject to renewal. During the period ended 30 June 2024, interest of £516,635 (2022 - £275,749) was charged on the loan.

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

MATTWELL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 07471519)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 January 2023 to 30 June 2024


8. RELATED PARTY DISCLOSURES - continued

During the year, the company entered into transactions with its related parties, which are members of the same group.

Amounts owed by related parties at the end of the period:
Crompton Close Management Company Limited £2,040 (2022 -£1,595)
Lewtam Limited £1,009,203 (2022 - £760,164)
Mahsro Limited £1,189,307 (2022 - £1,682,564)
Manheath Limited £6,475 (2022 - £782,458)
Mattwell Investments Limited £367,515 (2022 - £550,003)
Mattwell Investments Residential Limited £600,605 (2022 - £655,819)
Telamon Limited £208 (2022 - £352)
Trizec Limited - £1,048,383 (2022 - £Nil)
Pace Loxwood Limited - £534,646 (2022 - £Nil)

These amounts are unsecured, interest-free and repayable on demand.

No guarantees have been given or received. No expenses have been recognised during the current or previous financial year for bad or doubtful debts in respect of the amounts owed by or to related parties.