Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falsedirector of photography11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07974535 2022-04-01 2023-03-31 07974535 2021-04-01 2022-03-31 07974535 2023-03-31 07974535 2022-03-31 07974535 c:Director1 2022-04-01 2023-03-31 07974535 c:RegisteredOffice 2022-04-01 2023-03-31 07974535 d:PlantMachinery 2022-04-01 2023-03-31 07974535 d:PlantMachinery 2023-03-31 07974535 d:PlantMachinery 2022-03-31 07974535 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07974535 d:Goodwill 2023-03-31 07974535 d:Goodwill 2022-03-31 07974535 d:CurrentFinancialInstruments 2023-03-31 07974535 d:CurrentFinancialInstruments 2022-03-31 07974535 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07974535 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07974535 d:ShareCapital 2023-03-31 07974535 d:ShareCapital 2022-03-31 07974535 d:RetainedEarningsAccumulatedLosses 2023-03-31 07974535 d:RetainedEarningsAccumulatedLosses 2022-03-31 07974535 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07974535 c:OrdinaryShareClass1 2023-03-31 07974535 c:OrdinaryShareClass1 2022-03-31 07974535 c:FRS102 2022-04-01 2023-03-31 07974535 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07974535 c:FullAccounts 2022-04-01 2023-03-31 07974535 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07974535 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 07974535












MATT BROAD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 

MATT BROAD LTD

CONTENTS



Page
Company Information
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 10


 

MATT BROAD LTD
 
COMPANY INFORMATION


Director
Matthew Broad 




Registered number
07974535



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:07974535
MATT BROAD LTD

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,500
15,000

Tangible assets
 5 
11,678
11,847

  
25,178
26,847

Current assets
  

Debtors: amounts falling due within one year
 6 
6,858
12,936

Cash at bank and in hand
  
28,241
50,467

  
35,099
63,403

Creditors: amounts falling due within one year
 7 
(6,414)
(19,214)

Net current assets
  
 
 
28,685
 
 
44,189

Total assets less current liabilities
  
53,863
71,036

  

Net assets
  
53,863
71,036


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
53,763
70,936

Total equity
  
53,863
71,036


Page 2


 
REGISTERED NUMBER:07974535
MATT BROAD LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Matthew Broad
Director

Date: 16 November 2023

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Matt Broad Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in sterling (£) which is the financial currency of the company. Monetary amounts are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In the company’s forthcoming financial year the country was in the midst of a global Covid-19 health crisis.
The director has assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The company has continued to trade and the director has formed the view that it is appropriate to the prepare the accounts on a going concern basis.

  
2.3

Revenue

Revenue represents amounts receivable for services net of VAT.

  
2.4

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to
benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Page 4

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. 
 

The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 
 
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
 
Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
 





Page 6

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. 
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. 
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.9

Share capital

Ordinary shares are classified as equity.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Page 7

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
30,000



At 31 March 2023

30,000



Amortisation


At 1 April 2022
15,000


Charge for the year
1,500



At 31 March 2023

16,500



Net book value



At 31 March 2023
13,500



At 31 March 2022
15,000



Page 8

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant and machinery

£


At 1 April 2022
50,658


Additions
2,446



At 31 March 2023

53,104



Depreciation


At 1 April 2022
38,812


Charge for the year
2,614



At 31 March 2023

41,426



Net book value



At 31 March 2023
11,678



At 31 March 2022
11,847


6.


Debtors

2023
2022
£
£


Trade debtors
3,881
12,936

Other debtors
2,977
-

6,858
12,936



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
3,886

Other taxation and social security
1,387
1,557

Other creditors
5,027
13,771

6,414
19,214


Page 9

 

MATT BROAD LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Share capital

2023
2022
£
£
Issued and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



9.


Related party transactions

At the year end, an amount of £171 (2022 - £9,913) was owed to the director. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

 
Page 10