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REGISTERED NUMBER: 07901365 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 December 2023

for

MATIVISION LIMITED

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Contents of the Financial Statements
for the year ended 29 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATIVISION LIMITED

Company Information
for the year ended 29 December 2023







Directors: Mr A Karydis
Mr G Stern FCA





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 07901365 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Balance Sheet
29 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 412,295 491,773
Tangible assets 5 5,468 7,290
417,763 499,063

Current assets
Debtors 6 23,270 25,645
Cash at bank and in hand 1,138 9,725
24,408 35,370
Creditors
Amounts falling due within one year 7 18,012 21,781
Net current assets 6,396 13,589
Total assets less current liabilities 424,159 512,652

Creditors
Amounts falling due after more than one year 8 (35,125 ) (39,583 )

Provisions for liabilities (1,367 ) (1,385 )
Net assets 387,667 471,684

Capital and reserves
Called up share capital 9 895 895
Share premium 654,854 654,854
Retained earnings (268,082 ) (184,065 )
Shareholders' funds 387,667 471,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Balance Sheet - continued
29 December 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





Mr A Karydis - Director


MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Notes to the Financial Statements
for the year ended 29 December 2023


1. Statutory information

Mativision 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of the company's directors. In the opinion of the directors, the company has the support of its directors for the foreseeable future and it is therefore appropriate to adopt the going concern policy.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when assets are disposed of or future profits incur.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating amortisation of intangible assets. A full line by line review of intangible assets is carried out by management regularly. Whilst every attempt is made to ensure that the amortisation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the intangible assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


2. Accounting policies - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


2. Accounting policies - continued

Research and development
Research and development expenditure including attributable overheads is written off as incurred, except that development expenditure incurred on an individual project is capitalised as an intangible asset when the company can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the asset and the ability to measure reliably the expenditure during development.

Following initial recognition of the development expenditure as an asset, the cost model is applied requiring the asset to be carried at cost less any accumulated amortisation and accumulated impairment losses. Amortisation of the asset begins when development is complete and the asset is available for use. It is amortised evenly over the period of expected future benefit. During the period of development the asset is tested for impairment annualy.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 3 ) .

4. Intangible fixed assets
Development
costs
£
Cost
At 30 December 2022
and 29 December 2023 794,776
Amortisation
At 30 December 2022 303,003
Amortisation for year 79,478
At 29 December 2023 382,481
Net book value
At 29 December 2023 412,295
At 29 December 2022 491,773

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


5. Tangible fixed assets
Plant and Computer
machinery equipment Totals
£ £ £
Cost
At 30 December 2022
and 29 December 2023 5,672 14,432 20,104
Depreciation
At 30 December 2022 2,959 9,855 12,814
Charge for year 678 1,144 1,822
At 29 December 2023 3,637 10,999 14,636
Net book value
At 29 December 2023 2,035 3,433 5,468
At 29 December 2022 2,713 4,577 7,290

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 21,436 24,047
Other debtors 1,834 1,598
23,270 25,645

7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 6,128 651
Taxation and social security - 3,177
Other creditors 6,884 12,953
18,012 21,781

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 35,125 39,583

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,125 19,583

MATIVISION LIMITED (REGISTERED NUMBER: 07901365)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
895,182 Ordinary £0.001 895 895