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REGISTERED NUMBER: 09439783 (England and Wales)















Matafan UK Limited

Financial Statements

for the Year Ended 29 February 2024






Matafan UK Limited (Registered number: 09439783)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Matafan UK Limited

Company Information
for the year ended 29 February 2024







Director: G Jabalot





Registered office: Ground Floor Flat
53 Elgin Crescent
London
W11 2JU





Registered number: 09439783 (England and Wales)

Matafan UK Limited (Registered number: 09439783)

Statement of Financial Position
29 February 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investments 4 268,277 1,310,464

Current assets
Debtors 5 4,605 20,543
Cash at bank 1,406,548 400,917
1,411,153 421,460
Creditors
Amounts falling due within one year 6 38,388 33,159
Net current assets 1,372,765 388,301
Total assets less current liabilities 1,641,042 1,698,765

Provisions for liabilities 137,137 107,082
Net assets 1,503,905 1,591,683

Capital and reserves
Called up share capital 200 200
Share premium 508,949 508,949
Retained earnings 994,756 1,082,534
Shareholders' funds 1,503,905 1,591,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





G Jabalot - Director


Matafan UK Limited (Registered number: 09439783)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Matafan UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

A summary of principal accounting policies, all of which have been consistently applied throughout the year and the preceding year, is set out below. The financial statements are presented in Sterling (£).

Turnover
Turnover comprises of the fair value of the consideration received or receivable for the company's share of profits earned by investments in Limited Partnerships. Turnover is recognised in the period to which the share of profits relates.

Interest income
Interest income is recognised using the effective interest method. When a loan receivable is impaired, the company reduces the carrying amount to its recoverable amount, being the estimated future cash flow discounted at the original effective interest rate of the instrument, and continues unwinding the discount as interest income.

Income from fixed asset investments
Income from fixed asset investments comprises income received on unlisted investments. Income from fixed asset investments is recognised at the fair value of the consideration received and is recognised in the period to which the income relates.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Matafan UK Limited (Registered number: 09439783)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. Accounting policies - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds basic financial instruments which comprise cash at bank and trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments.

Financial assets - classified as basic financial instruments

(i) Cash at bank and in hand
Cash at bank and in hand include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.


(ii) Other receivables
Other receivables are initially recognised at the transaction price, including any transaction costs. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. Amounts that are receivable in more than one year are measured at amortised cost using the effective interest method less provision for impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Fixed Asset Investments
Upon initial recognition, investments are included at their initial fair value, which is cost. Subsequently investments are valued at 'fair value ' which are measured as follows:

Investments listed on recognised exchanges are valued at their bid prices at the end of the accounting period or otherwise at fair value based on published price quotations.
Unquoted investments are value using the fair value measurement in FRS 102 using the hierarchy model outlined below:
a) Active market price e.g. bid price
b) Price of recent transaction for an identical asset in an arm's length transaction.
c) Estimate of fair value using another valuation technique in an arm's length exchange
d) Cost less impairment

Financial Liabilities - classified as basic financial instruments

(iv) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable in more than one year are measured at the discounted amount of the cash expected to be paid.

Going concern
These financial statements have been prepared on a going concern basis.

The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the director has continued to adopt the going concern basis of accounting in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

Matafan UK Limited (Registered number: 09439783)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


4. Fixed asset investments

2024 2023
£ £
Other investments not loans 196,876 188,544
Other loans 71,401 1,121,920
268,277 1,310,464

Additional information is as follows:
Unlisted
investments
£
Cost
At 1 March 2023 188,544
Additions 8,332
At 29 February 2024 196,876
Net book value
At 29 February 2024 196,876
At 28 February 2023 188,544
Other loans
£
At 1 March 2023 1,121,920
Repayment in year (1,058,703 )
Other movement 8,184
At 29 February 2024 71,401

The loan carries yearly interest of 2%. The loan receivable is repayable on 31 December 2025 however the loan can be repaid anytime before this date with no penalty or fine.

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 4,605 20,543

6. Creditors: amounts falling due within one year
2024 2023
£ £
Tax 17,893 -
Directors' current accounts 330 330
Accrued expenses 20,165 32,829
38,388 33,159