REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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FOR |
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MERDON INVESTMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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FOR |
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MERDON INVESTMENTS LIMITED |
MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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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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MERDON INVESTMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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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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24 Park Road South |
Havant |
Hampshire |
PO9 1HB |
MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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BALANCE SHEET |
30TH SEPTEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 | ( |
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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 and authorised for issue on
signed on its behalf by: |
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MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements are presented in Sterling (£) and rounded to the nearest pound (£). |
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The financial statements relate to Merdon Investments Limited as an individual entity. |
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Financial instruments |
Financial instruments are recognised in line with Sections 11 and 12 of FRS 102. |
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Basic financial instruments, such as bank and cash, loans, trade receivables and payables are initially |
recognised at transaction price, unless they constitute a financing arrangement, when the transaction is |
measured at the present value of the future receipts/payments discounted at a market rate of interest. Such |
instruments are subsequently carried at amortised cost using the effective interest rate method. |
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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 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. The fair value of listed investments is determined by their |
market value at the close of business on 30 September 2019, the final day of trading during the period. |
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Fair value reserve |
The company is required under FRS 102 to value its investments in shares at fair value, with any movement in |
fair value recognised in the Income Statement. This amount is transferred at the year end between retained |
earnings and a fair value reserve. Deferred tax provided on the movement is also transferred to the fair value |
reserve at the year end. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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4. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1st October 2018 |
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Additions |
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Disposals | ( |
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Revaluations | ( |
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At 30th September 2019 |
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NET BOOK VALUE |
At 30th September 2019 |
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At 30th September 2018 |
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Cost or valuation at 30th September 2019 is represented by: |
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Other |
investments |
£ |
Valuation in 2019 | (448,591 | ) |
Cost | 4,568,647 |
4,120,056 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
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Deferred tax asset | 162,227 | 59,894 |
Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Other creditors |
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7. | POST BALANCE SHEET EVENTS |
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Subsequent to the year end, the effect of COVID-19 has resulted in a decrease in the market value of |
investments. The directors have confirmed that they will continue to provide financial support for the foreseeable |
future and for a minimum of twelve months from the date of approval of these accounts. The going concern basis |
is therefore considered appropriate. |
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8. | COMPARATIVES |
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The financial statements for the period ended 30 September 2018 represent a 9 month period. The comparative |
amounts presented in the financial statements are therefore not entirely comparable. |