Matthew Churchill Ltd 04862076 false 2021-03-01 2022-02-28 2022-02-28 The principal activity of the company is the provision of services to the creative industry. Digita Accounts Production Advanced 6.30.9574.0 true true 04862076 2021-03-01 2022-02-28 04862076 2022-02-28 04862076 core:RetainedEarningsAccumulatedLosses 2022-02-28 04862076 core:ShareCapital 2022-02-28 04862076 core:CurrentFinancialInstruments 2022-02-28 04862076 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04862076 bus:SmallEntities 2021-03-01 2022-02-28 04862076 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 04862076 bus:FullAccounts 2021-03-01 2022-02-28 04862076 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 04862076 bus:RegisteredOffice 2021-03-01 2022-02-28 04862076 bus:Director1 2021-03-01 2022-02-28 04862076 bus:Director2 2021-03-01 2022-02-28 04862076 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 04862076 countries:EnglandWales 2021-03-01 2022-02-28 04862076 2020-03-01 2021-02-28 04862076 2021-02-28 04862076 core:RetainedEarningsAccumulatedLosses 2021-02-28 04862076 core:ShareCapital 2021-02-28 04862076 core:CurrentFinancialInstruments 2021-02-28 04862076 core:CurrentFinancialInstruments core:WithinOneYear 2021-02-28 iso4217:GBP xbrli:pure

Registration number: 04862076

Matthew Churchill Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2022

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Matthew Churchill Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Matthew Churchill Ltd

Company Information

Directors

T Churchill

M J Churchill

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

 

Matthew Churchill Ltd

Statement of Financial Position as at 28 February 2022

Note

2022
£

2021
£

Current assets

 

Debtors

4

107,384

72,338

Cash at bank and in hand

 

268,859

-

 

376,243

72,338

Creditors: Amounts falling due within one year

5

(379,584)

(92,994)

Net liabilities

 

(3,341)

(20,656)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(3,441)

(20,756)

Total equity

 

(3,341)

(20,656)

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................

M J Churchill

Director

Company registration number: 04862076

 

Matthew Churchill Ltd

Notes to the Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of the provision of services to the creative industry.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The statement of financial position at 28 February 2022 showed net liabilities of £3,341.The company has few fixed overheads and further income is anticipated in the forthcoming year.

On the bases of the above, the directors have reasonable expectation that the company has adequate resources to configure in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis of preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of good and
services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax,
returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the entity based upon the stage of completion and contractual entitlement.

 

Matthew Churchill Ltd

Notes to the Financial Statements for the Year Ended 28 February 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2021 - 0).

 

Matthew Churchill Ltd

Notes to the Financial Statements for the Year Ended 28 February 2022

4

Debtors

2022
£

2021
£

Other debtors

107,384

72,338

107,384

72,338

5

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Trade creditors

211,497

983

Corporation tax

26,476

24,845

PAYE and NIC

11,342

-

Other creditors

-

43,591

Accruals

130,269

23,575

379,584

92,994

6

Transactions With Directors

At 28 February 2022 an amount of £Nil (2021: £58,390) was due from the directors. During the year advances of £40,420 and repayments of £99,656 were made. Interest of £846 (2021: £724) was charged by the company at 2% p.a. There were no agreed terms.