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REGISTERED NUMBER: 05964550 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

MATILDA PROJECT LIMITED

MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATILDA PROJECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: J M Brownhill
P L Robinson





SECRETARY: J M Brownhill





REGISTERED OFFICE: Jenkin Hill House
Horsleygate Lane
Holmesfield
Dronfield
Derbyshire
S18 7WD





REGISTERED NUMBER: 05964550 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 2,700,000 2,700,000

CURRENT ASSETS
Debtors 5 12,651 12,850
Cash at bank 23,699 46,234
36,350 59,084
CREDITORS
Amounts falling due within one year 6 3,388,317 3,439,810
NET CURRENT LIABILITIES (3,351,967 ) (3,380,726 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(651,967

)

(680,726

)

CREDITORS
Amounts falling due after more than one
year

7

510,000

550,000
NET LIABILITIES (1,161,967 ) (1,230,726 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9 (1,161,969 ) (1,230,728 )
(1,161,967 ) (1,230,726 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

BALANCE SHEET - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2025 and were signed on its behalf by:





J M Brownhill - Director


MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Matilda Project 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Going Concern
The financial statements have been prepared on a going concern basis on the grounds that the company will continue to receive financial support from the directors and from any other companies controlled by the directors.

Significant judgements and estimates
The director has made key assumptions in the determination of the fair value of investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. The valuation of the property at the reporting date is stated in notes to the accounts.

Turnover
Turnover consists of rental income receivable on property investments in the United Kingdom, exclusive of VAT.

Investment property
Investment property is shown at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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.


MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 2,700,000
NET BOOK VALUE
At 31 October 2024 2,700,000
At 31 October 2023 2,700,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2024 (1,341,175 )
Cost 4,041,175
2,700,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 4,041,175 4,041,175

The investment property was valued at the balance sheet date by the directors of the company who are not professionally qualified valuers. The fair value has been determined by reference to market factors including evidence of transaction prices for similar property in the location where the property is situated.

MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,651 12,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 1,505 232,681
Corporation tax 22,953 14,651
VAT 1,577 -
Other creditors 1,429,002 1,449,198
Directors' current accounts 1,893,280 1,703,280
3,388,317 3,439,810

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 510,000 550,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 550,000 590,000

The loans are secured by way of fixed and floating charges over the company's assets.

9. RESERVES
Retained
earnings
£   

At 1 November 2023 (1,230,728 )
Profit for the year 68,759
At 31 October 2024 (1,161,969 )

MATILDA PROJECT LIMITED (REGISTERED NUMBER: 05964550)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. RELATED PARTY DISCLOSURES

Included in Other creditors is a loan of £256,917 (2023 : £256,917) received from the Trustees of the Margaret Rose Brownhill Flexible Life Interest Trust.

No interest is payable on the loan which is unsecured and repayable on demand.