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REGISTERED NUMBER:
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MERDON INVESTMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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REGISTERED NUMBER:
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MERDON INVESTMENTS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2016 |
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MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
MERDON INVESTMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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BALANCE SHEET |
31 DECEMBER 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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1. | STATUTORY INFORMATION |
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Merdon Investments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted |
or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Investments |
Investments in shares are included at fair value. |
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3. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 January 2016 |
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Additions |
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Disposals | ( |
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Revaluations |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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3. | FIXED ASSET INVESTMENTS - continued |
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Cost or valuation at 31 December 2016 is represented by: |
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Other |
investments |
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Valuation in 2016 | 238,140 |
Cost | 3,893,305 |
4,131,445 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Deferred tax asset | 8,899 | - |
Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Other creditors |
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6. | RESERVES |
Fair |
value |
reserve |
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Transferred during the year | 190,512 |
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At 31 December 2016 |
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7. | RELATED PARTY DISCLOSURES |
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Mr J C Smith |
Director |
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During the year, the director advanced amounts of £2,000,000 to the company. The director also received |
repayments of £33,000 from the company during the year. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 2,905,000 | 938,000 |
MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2016 |
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7. | RELATED PARTY DISCLOSURES - continued |
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Mr O G Smith |
Director |
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The director received repayments of £133,000 from the company during the year. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 805,000 | 938,000 |
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Mr N M Smith |
Director |
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The director received repayments of £46,000 from the company during the year. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date | 905,000 | 951,000 |
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8. | ULTIMATE CONTROLLING PARTY |
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In the opinion of the directors, there is no ultimate controlling party. |
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9. | FIRST YEAR ADOPTION |
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The company has adopted FRS 102 Section 1A from 1 January 2016 for the year ended 31 December 2016. In |
accordance with Section 35 of FRS 102, the company is entitled to exemption from re-stating comparative |
information to comply with the fair value measurement of financial instruments. The movement in the fair value |
of financial instruments and associated deferred tax have been transferred to a fair value reserve. There are no |
further re-statements required under the new standard for earlier periods which were prepared under previous |
UK GAAP. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
MERDON INVESTMENTS LIMITED |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Merdon Investments Limited for the year ended 31 December 2016 which comprise the Income |
Statement, Balance Sheet, and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Merdon Investments Limited, as a body, in accordance with the terms of our engagement letter dated 23 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Merdon Investments Limited and state those matters that we have agreed to state to the Board of Directors of Merdon Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Merdon Investments Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Merdon Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Merdon Investments Limited. You consider that Merdon Investments Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Merdon Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
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