INTERNET MATTERS LIMITED

Company limited by guarantee

Company Registration Number:
08822801 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

INTERNET MATTERS LIMITED

Company limited by guarantee

Contents of the Financial Statements

for the Period Ended 31 March 2023

Company Information - 3
Report of the Directors - 4
Income and Expenditure Account - 5
Balance sheet - 6
Additional notes - 8
Income And Expenditure notes - 11
Balance sheet notes - 12

INTERNET MATTERS LIMITED

Company limited by guarantee

Company Information

for the Period Ended 31 March 2023




Director: Matthew Sears
Alistair Stefan Law
Nicola Clare Green
Lucy Charlotte Thomas
Margot Cathleen James
Bronagh Mary McCloskey
Registered office: 6th Floor One London Wall
London
GBR
EC2Y 5EB
Company Registration Number: 08822801 (England and Wales)

INTERNET MATTERS LIMITED

Company limited by guarantee

Directors' Report Period Ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal Activities

The principal activity of the company was an independent not for profit and industry led safety body promoting information and resources to enable and encourage effective communication between parents and children regarding online safety

Directors

The directors shown below have held office during the whole of the period from 01 April 2022 to 31 March 2023
Matthew Sears
Alistair Stefan Law
Nicola Clare Green

The director(s) shown below were appointed to the company during the period
Lucy Charlotte Thomas
01 November 2022

The director(s) shown below resigned during the period
Margot Cathleen James
01 September 2022
Bronagh Mary McCloskey
01 November 2022

This report was approved by the board of directors on 1 December 2023
And Signed On Behalf Of The Board By:

Name: Matthew Sears
Status: Director

INTERNET MATTERS LIMITED

Company limited by guarantee

Income and Expenditure Account

for the Period Ended 31 March 2023


Notes

2023
£

2022
£
Turnover 1,693,663 2,090,977
Gross surplus or (deficit) 1,693,663 2,090,977
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 1,010,942 ) ( 986,058 )
Administrative Expenses ( 846,770 ) ( 1,066,109 )
Other operating income 21,269 -
Operating surplus or (deficit) ( 142,780 ) 38,810
Surplus or (deficit) before tax 4 ( 142,780 ) 38,810
Surplus or (deficit) for the period ( 142,780 ) 38,810

The notes form part of these financial statements

INTERNET MATTERS LIMITED

Company limited by guarantee

Balance sheet

As at 31 March 2023


Notes

2023
£

2022
£
Fixed assets
Total fixed assets: - -
Current assets
Debtors: 5 273,112 79,681
Cash at bank and in hand: 621,289 943,926
Total current assets: 894,401 1,023,607
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 6 ( 521,975 ) ( 508,401 )
Net current assets (liabilities): 372,426 515,206
Total assets less current liabilities: 372,426 515,206
Provision for liabilities: ( 0 ) ( 0 )
Accruals and deferred income: ( 0 ) ( 0 )
Total net assets (liabilities): 372,426 515,206

The notes form part of these financial statements

INTERNET MATTERS LIMITED

Company limited by guarantee

Balance sheet continued

As at 31 March 2023


Notes

2023
£

2022
£
Reserves
Revaluation reserve: 7 2,288,000 2,288,000
Income and expenditure account ( 1,915,574 ) ( 1,772,794 )
Members funds 372,426 515,206

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their 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.

This report was approved by the board of directors on 1 December 2023
And Signed On Behalf Of The Board By:

Name: Matthew Sears
Status: Director

The notes form part of these financial statements

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the year, exclusive of VAT

    Other accounting policies

    Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 18 11

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 3. Off balance sheet disclosure

    No

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

4.Surplus or (deficit) before tax

Four Members of Internet Matters Limited, being Sky UK Limited, British Telecommunications, TalkTalk Telecom limited and Virgin Media O2 UK Limited were invoiced £150,000 (excl VAT) in the year for service fees, which, including further contributions by others, totalled £1,693,663.

We received total Grant income in the year of £118,140 which has been included as restricted/other income. We received £101,530 from Nominet to support the prevention of CSAM (Child Sexual Abuse Material) and a further £16,110 from the Department of Science, Technology, and Innovation to support the media literacy of care leavers. Administrative expenses for Grants totalled £96,860.

The four Founding Members also provided marketing services costing £282,700 which was offset by additional top-up fees of £282,700.

The CEO is seconded to Internet Matters Limited by a Member who charges their costs to Internet Matters Limited. In total the costs are £233,347

Other staff costs of £934,628 relate to Internet Matters staff. The company received £444,378 contribution to other staff costs from the Founding Members meaning net other staff costs were £490,250. In addition to this there was a consultancy contract cost of £10,638.

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors


2023
£

2022
£
Trade debtors 245,910 66,639
Prepayments and accrued income 0 0
Other debtors 27,202 13,042
Total 273,112 79,681

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Trade creditors 233,668 213,902
Taxation and social security 0 0
Accruals and deferred income 259,165 225,337
Other creditors 29,142 69,162
Total 521,975 508,401

INTERNET MATTERS LIMITED

Company limited by guarantee

Notes to the Financial Statements

for the Period Ended 31 March 2023

7. Revaluation reserve


2023
£
Balance at 01 April 2022 2,288,000
Surplus or deficit after revaluation 0
Balance at 31 March 2023 2,288,000