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REGISTERED NUMBER: 03118421 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MATSIM PROPERTIES LIMITED

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATSIM PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: A Lambor





SECRETARY: Ms S Lambor





REGISTERED OFFICE: Sussex House Crowhurst Road
Hollingbury Industrial Estate
Brighton
East Sussex
BN1 8AF





REGISTERED NUMBER: 03118421 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 216,870 104,966
Investments 5 230 30
Investment property 6 23,662,647 23,574,751
23,879,747 23,679,747

CURRENT ASSETS
Debtors 7 19,947,006 13,311,680
Cash at bank 937,836 4,453,418
20,884,842 17,765,098
CREDITORS
Amounts falling due within one year 8 (502,578 ) (722,454 )
NET CURRENT ASSETS 20,382,264 17,042,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,262,011

40,722,391

CREDITORS
Amounts falling due after more than one
year

9

(11,998,691

)

(8,136,360

)

PROVISIONS FOR LIABILITIES (2,470,978 ) (2,516,981 )
NET ASSETS 29,792,342 30,069,050

CAPITAL AND RESERVES
Called up share capital 10 2 2
Other reserves 9,057,357 9,661,432
Retained earnings 20,734,983 20,407,616
SHAREHOLDERS' FUNDS 29,792,342 30,069,050

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

BALANCE SHEET - continued
30 SEPTEMBER 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 June 2025 and were signed by:





A Lambor - Director


MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Matsim Properties 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.

Going concern
The financial statements have been prepared on a going concern basis.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the rent from investment properties together with sales of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

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 - 25% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance

Investment property
Investment property is carried at fair value. Gains are recognised in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period fo the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Non-distributable reserve
The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax position is transferred to current tax liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 8 ) .

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2023 712,448 73,816 77,427 863,691
Additions 2,000 126,724 20,700 149,424
At 30 September 2024 714,448 200,540 98,127 1,013,115
DEPRECIATION
At 1 October 2023 681,339 58,743 18,643 758,725
Charge for year 6,879 12,495 18,146 37,520
At 30 September 2024 688,218 71,238 36,789 796,245
NET BOOK VALUE
At 30 September 2024 26,230 129,302 61,338 216,870
At 30 September 2023 31,109 15,073 58,784 104,966

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2023 30
Additions 200
At 30 September 2024 230
NET BOOK VALUE
At 30 September 2024 230
At 30 September 2023 30

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 23,574,751
Additions 87,896
At 30 September 2024 23,662,647
NET BOOK VALUE
At 30 September 2024 23,662,647
At 30 September 2023 23,574,751

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 121,449 173,358
Amounts owed by group undertakings 19,462,317 13,029,771
Other debtors 63,329 51,544
VAT 17,776 -
Prepayments 282,135 57,007
19,947,006 13,311,680

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 115,893 95,335
Amounts owed to group undertakings 175,710 14,376
Tax (125,222 ) 246,019
Social security and other taxes 5,421 3,982
VAT - 93,649
Other creditors 49,425 46,076
Directors' current accounts 541 416
Deferred income 266,041 206,921
Accrued expenses 14,769 15,680
502,578 722,454

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 11,092,331 7,230,000
Other creditors 906,360 906,360
11,998,691 8,136,360

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £0.01 2 2
4 Ordinary B £0.01 - -
2 2

MATSIM PROPERTIES LIMITED (REGISTERED NUMBER: 03118421)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. RELATED PARTY DISCLOSURES

Summary of transactions with entities with joint control or significant interest

Greenleaf Properties Sussex Limited
A company in which Mr M Lambor is also director, owed £8,126,107 (2023: £9,016,528) to Matsim Properties Limited at the year end.

Parkgate (Brighton) Limited
A company in which Mr A Lambor is also director, owed £454,770 (2023: £454,770) to Matsim Properties Limited at the year end.

Brighton Shore Limited
A company in which Mr A Lambor is also director, owed £7,133,059 (2023: £454,770) to Matsim Properties Limited at the year end.

52-58 Middle Street Limited
A company in which Mr M Lambor and Mr S Lambor are also directors, owed £3,624,587 (2023: £3,259,515) to Matsim Properties Limited at the year end. Mr M Lambor and Mr S Lambor both resigned as directors from Matsim Properties Limited on the 5th March 2024.

Greenleaf Construction Services Limited
A company in which Mr M Lambor and Mr S Lambor are also directors, owed £72,309 (2023: £206,405) to Matsim Properties Limited at the year end. Mr M Lambor and Mr S Lambor both resigned as directors from Matsim Properties Limited on the 5th March 2024.

Matsim Management Limited
A company in which Mr S Lambor is also a director, was owed £50,000 (2023: £14,376) by Matsim Properties Limited at the year end. Mr S Lambor resigned as a director from Matsim Properties Limited on the 5th March 2024.



Summary of transactions with subsidiaries

Greentrees Barn Limited
At the balance sheet date, £125,710 was owed to (2023: £45,968 owed by) Greentrees Barn Limited.

Jolly Tanners Limited
At the balance sheet date, £4,900 was owed by Jolly Tanners Limited.