Company Registration No. 10199524 (England and Wales)
MeasureMatch Ltd
Unaudited accounts
for the year ended 31 May 2023
MeasureMatch Ltd
Unaudited accounts
Contents
MeasureMatch Ltd
Company Information
for the year ended 31 May 2023
Director
James Peter Sandoval
Company Number
10199524 (England and Wales)
Registered Office
Unit 2.05
12-18 Hoxton Street
London
N1 6NG
England
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
MeasureMatch Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
4,458
4,572
Cash at bank and in hand
4,723
534
Creditors: amounts falling due within one year
(176,077)
(167,348)
Net current liabilities
(115,556)
(160,622)
Total assets less current liabilities
(111,098)
(156,050)
Creditors: amounts falling due after more than one year
(35,000)
(40,000)
Net liabilities
(146,098)
(196,050)
Called up share capital
175
165
Share premium
999,497
648,283
Capital contribution reserve
-
159,016
Profit and loss account
(1,145,770)
(1,003,514)
Shareholders' funds
(146,098)
(196,050)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 November 2023 and were signed on its behalf by
James Peter Sandoval
Director
Company Registration No. 10199524
MeasureMatch Ltd
Notes to the Accounts
for the year ended 31 May 2023
MeasureMatch Ltd is a private company, limited by shares, registered in England and Wales, registration number 10199524. The registered office is Unit 2.05 , 12-18 Hoxton Street, London, N1 6NG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line at 20%
Expenditure on research and development is written off in the year in which it is incurred. Where appropriate, development expenditure is capitalised and amortised over its useful economic life.
Research and development tax credit
During the financial year, MeasureMatch Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
MeasureMatch Ltd
Notes to the Accounts
for the year ended 31 May 2023
This relates to the Coronavirus outbreak Bounceback loan. No repayments or interest are due in the first 12 months of the loan following which interest will be charged at the rate of 2.5% per annum
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2022
404
9,709
10,113
At 31 May 2023
404
11,724
12,128
At 1 June 2022
270
5,271
5,541
Charge for the year
134
1,995
2,129
At 31 May 2023
404
7,266
7,670
At 31 May 2023
-
4,458
4,458
At 31 May 2022
134
4,438
4,572
Amounts falling due within one year
Trade debtors
35,561
3,651
Accrued income and prepayments
20,237
426
MeasureMatch Ltd
Notes to the Accounts
for the year ended 31 May 2023
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
28,201
26,841
Taxes and social security
26,915
15,573
Other creditors
28,446
48,168
Loans from directors
87,057
75,849
Included in creditors is a directors' loan of £87,057 (2022: £75,848). The loan is interest-free and repayable on demand.
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Creditors: amounts falling due after more than one year
2023
2022
The bank loan relates to the Coronavirus outbreak Bounceback loan. No repayments or interest are due in the first 12 months of the loan following which interest will be charged at the rate of 2.5% per annum
Allotted, called up and fully paid:
3,507,792 Ordinary shares of £0.00005 each
175.38
164.57
Shares issued during the period:
216,361 Ordinary shares of £0.00005 each
10.81
9
Average number of employees
During the year the average number of employees was 3 (2022: 4).