Matthew & Matthew Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 06979123 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

MATTHEW & MATTHEW LIMITED

Page

Balance sheet

1

Notes to the financial statements

3

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

25,414

41,075

25,414

41,075

Current assets

Debtors

6

343,095

406,510

Cash at bank and in hand

338,436

292,218

681,531

698,728

Creditors

Amounts falling due within one year

7

702,690

562,012

Net current (liabilities)/assets

(21,159

)

136,716

Total assets less current liabilities

4,255

177,791

Creditors

Amounts falling due after more than one year

8

-

(57,268

)

Provisions for liabilities

10

(4,253

)

(7,203

)

Net assets

2

113,320

Capital and reserves

Called up share capital

11

2

2

Retained earnings

-

113,318

Shareholders' funds

2

113,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 Board of Directors on 15 February 2017 and were signed on its behalf by:

Mr D Webb - Director

1.	Statutory information

Matthew & Matthew Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 06979123. The registered office and business address is 194 Seabourne Road, Bournemouth, Dorset,

BH5 2JD.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small 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.

Preparation of consolidated financial statements

The company is a wholly owned subsidiary and the parent company has taken the option under S398 of the Companies Act

2006 not to prepare consolidated financial statements.

Turnover

Turnover represents fee income earned under a wide variety of contracts to provide professional services. Revenue is

recognised as it is earned when, and to the extent that, the firm obtains the right to consideration in exchange for its

performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts

chargeable to clients, including expenses and disbursements but excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised over its

estimated useful life.

Tangible fixed assets

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 reducing balance

Computer equipment

-

25% on cost

Taxation

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. It is measured at the amount expected to be paid or recovered using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of

current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing

differences are differences between taxable profits and total comprehensive income as stated in the financial statements

that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are

recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible

fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the

contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract

that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any

losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 34 .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2015

and 30 September 2016

800,000

Amortisation

At 1 October 2015

and 30 September 2016

800,000

Net book value

At 30 September 2016

-

At 30 September 2015

-

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 October 2015

and 30 September 2016

59,314

68,937

128,251

Depreciation

At 1 October 2015

39,644

47,532

87,176

Charge for year

4,917

10,744

15,661

At 30 September 2016

44,561

58,276

102,837

Net book value

At 30 September 2016

14,753

10,661

25,414

At 30 September 2015

19,670

21,405

41,075

6.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

258,027

197,506

Other debtors

3,133

8,683

Prepayments and accrued income

81,935

200,321

343,095

406,510

7.

Creditors: amounts falling due within one year

2016

2015

£

£

Amounts owed to group undertakings

207,058

-

Tax

168,452

146,684

Social security and other taxes

34,868

35,037

VAT

103,931

103,995

Other creditors

57,268

114,536

Accruals and deferred income

131,113

161,760

702,690

562,012

8.

Creditors: amounts falling due after more than one year

2016

2015

£

£

Other creditors

-

57,268

9.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2016

2015

£

£

Within one year

36,000

36,000

Between one and five years

144,000

144,000

In more than five years

72,000

108,000

252,000

288,000

10.	Provisions for liabilities

2016

2015

£

£

Deferred tax

4,253

7,203

Deferred

tax

£

Balance at 1 October 2015

7,203

Credit to Statement of comprehensive income during year

(2,950

)

Balance at 30 September 2016

4,253

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

£1

2

2

12.	Ultimate controlling party

As Mr D Webb is the sole director and shareholder of the parent company, M & M (Bournemouth) Ltd, he is deemed to be

the ultimate controlling party.

13.	First year adoption

These financial statements for the year ended 30 September 2016 are the first financial statements that comply with FRS

102 Section 1A small entities. The date of transition is 1 October 2014.

The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those

previously used.

The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to

these financial statements.