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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 2017 |
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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 2017 |
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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 2017 |
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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 | 5 |
MERDON INVESTMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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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 2017 |
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2017 | 2016 |
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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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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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 on
by: |
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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 2017 |
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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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Significant judgements and estimates |
The preparation of financial statements requires the use of estimates and assumptions that affect reported |
amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the |
reporting period. These estimates and assumptions are based on management's best knowledge of the amount, |
event or actions. Actual results may differ from those amounts. |
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Management do not consider there to be any significant judgements or estimates used in the preparation of |
these financial statements. |
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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 29 December 2017, the final day of trading during the year. |
MERDON INVESTMENTS LIMITED (REGISTERED NUMBER: 08650565) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. As this amount is unrealised, a transfer is made 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. Once the assets are sold and the gain/loss is realised, the realised |
amounts and deferred tax provided are transferred back to retained earnings. |
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3. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST OR VALUATION |
At 1 January 2017 |
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Additions |
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Disposals | ( |
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Revaluations |
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At 31 December 2017 |
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NET BOOK VALUE |
At 31 December 2017 |
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At 31 December 2016 |
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Cost or valuation at 31 December 2017 is represented by: |
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Other |
investments |
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Valuation in 2017 | 505,886 |
Cost | 4,559,690 |
5,065,576 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Tax |
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Deferred tax asset | - | 8,899 |
Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other creditors |
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6. | RELATED PARTY DISCLOSURES |
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As at the year end, amounts totalling £4,455,000 (2016: £4,615,000) were due to the directors. The amounts |
are repayable on demand and no interest has been charged during the year. |
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 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 2017 which comprise the Income |
Statement, Balance Sheet, Statement of Changes in Equity 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 and its 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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