REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 29 December 2023 |
for |
MATIVISION LIMITED |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
Tangible assets | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
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 |
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 |
MATIVISION LIMITED (REGISTERED NUMBER: 07901365) |
Notes to the Financial Statements |
for the year ended 29 December 2023 |
1. | Statutory information |
Mativision Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
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 |
4. | Intangible fixed assets |
Development |
costs |
£ |
Cost |
At 30 December 2022 |
and 29 December 2023 |
Amortisation |
At 30 December 2022 |
Amortisation for year |
At 29 December 2023 |
Net book value |
At 29 December 2023 |
At 29 December 2022 |
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 |
Depreciation |
At 30 December 2022 |
Charge for year |
At 29 December 2023 |
Net book value |
At 29 December 2023 |
At 29 December 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
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: | £ | £ |
Ordinary | £0.001 | 895 | 895 |