REGISTERED NUMBER: 04648262 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Matthews Properties Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G C Matthews BSc MRICS

K J Matthews

REGISTERED OFFICE:

Oak Apple House

North Street

Milborne Port

Sherborne

DT9 5EW

BUSINESS ADDRESS:

Higher Sandford Farm

Sandford Orcas

Sherborne

Dorset

DT9 4RP

REGISTERED NUMBER:

04648262 (England and Wales)

ACCOUNTANTS:

Silbury Accountants Limited

Chartered Accountants

Oak Apple House

North Street

Milborne Port

Sherborne

DT9 5EW

FIXED ASSETS

Property, plant and equipment

4

32,632

7,723

Investment property

5

9,140,000

9,250,000

9,172,632

9,257,723

CURRENT ASSETS

Debtors

6

34,887

30,387

Investments

7

113,069

102,269

Cash at bank

48,675

47,126

196,631

179,782

CREDITORS

Amounts falling due within one year

8

763,989

740,554

NET CURRENT LIABILITIES

(567,358

)

(560,772

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,605,274

8,696,951

CREDITORS

Amounts falling due after more than one year

9

(4,502,689

)

(4,609,095

)

PROVISIONS FOR LIABILITIES

(139,920

)

(165,828

)

NET ASSETS

3,962,665

3,922,028

CAPITAL AND RESERVES

Called up share capital

11

100

100

Non-distributable reserves

12

745,876

831,476

Retained earnings

3,216,689

3,090,452

SHAREHOLDERS' FUNDS

3,962,665

3,922,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2025 and were signed on its behalf by:

G C Matthews BSc MRICS - Director

1.	STATUTORY INFORMATION

Matthews 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 as modified by the revaluation of certain assets.

Turnover

Revenue 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company classifies its financial instruments as basic financial instruments in accordance with Section 11 of FRS 102. Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method, less any impairment. Basic financial liabilities, including trade and other payables and loans, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method. Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are settled. Financial liabilities are derecognised when the obligation is discharged, cancelled, or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

51,131

-

51,131

Additions

3,105

32,917

36,022

Disposals

(6,056

)

-

(6,056

)

At 31 March 2025

48,180

32,917

81,097

DEPRECIATION

At 1 April 2024

43,408

-

43,408

Charge for year

1,406

8,229

9,635

Eliminated on disposal

(4,578

)

-

(4,578

)

At 31 March 2025

40,236

8,229

48,465

NET BOOK VALUE

At 31 March 2025

7,944

24,688

32,632

At 31 March 2024

7,723

-

7,723

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

9,250,000

Revaluations

(110,000

)

At 31 March 2025

9,140,000

NET BOOK VALUE

At 31 March 2025

9,140,000

At 31 March 2024

9,250,000

Most of the properties were valued independently by Lloyds Banking Group in January 2023. The remainder of the properties were valued at open market value by the director, G C Matthews, who is a Chartered Surveyor on 31 March 2025.

The valuation at 31 March 2025 comprised cost of £8,238,586 (2024: £8,238,586) and net change in open market value of £901,414 (2024: £1,011,414).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

20,390

29,871

Other debtors

14,497

516

34,887

30,387

7.	CURRENT ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Investment in associate

companies

113,069

102,269

113,069

102,269

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

101,000

96,000

Trade creditors

15,756

3,488

Taxation and social security

75,185

96,559

Other creditors

572,048

544,507

763,989

740,554

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

4,502,689

4,609,095

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

by instalments

4,098,689

4,225,095

4,098,689

4,225,095

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

4,603,689

4,705,095

Borrowing is secured by charges on the investment property.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary

£1

100

100

On 29 March 2019 45 ordinary shares were re-designated as B ordinary shares. Voting and other rights remain the same on all the ordinary shares.

12.

RESERVES

Non-distributable

reserves

£

At 1 April 2024

831,476

Transfer of non-distributable

gain/loss

(85,600

)

At 31 March 2025

745,876

The transfer of non-distributable gains are net of deferred tax.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £51,150 (2024 - £54,000) were paid to the directors .

The company has a loan from a director amounting to £484,779 (2024: £484,282). This loan is unsecured, interest-free, and repayable on demand. As the loan is repayable on demand and interest-free, it is measured at the amount repayable and classified as a current liability in the balance sheet.