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Registration number: 08293019

Prepared for the registrar

Matt Waterhouse Represents Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Matt Waterhouse Represents Limited

(Registration number: 08293019)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,736

8,420

Investments

5

200

200

 

7,936

8,620

Current assets

 

Debtors

6

248,917

196,446

Cash at bank and in hand

 

6,226

74,832

 

255,143

271,278

Creditors: Amounts falling due within one year

7

(112,939)

(54,359)

Net current assets

 

142,204

216,919

Total assets less current liabilities

 

150,140

225,539

Deferred tax liabilities

 

(1,934)

(2,105)

Net assets

 

148,206

223,434

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

148,106

223,334

Shareholders' funds

 

148,206

223,434

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.


These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 November 2024
 


M R Waterhouse
Director

 

Matt Waterhouse Represents Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

1

General information

The company is a private company limited by share capital , incorporated in England and Wales .

The address of its registered office is:
407 Asha Point

Park Central East

2 New Lion Way

London

SE17 1GS

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Matt Waterhouse Represents Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% of written down value

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors 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 debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Matt Waterhouse Represents Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director ) during the year , was 1 (2022 - 1) .

 

Matt Waterhouse Represents Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 December 2022

18,237

Additions

1,162

At 30 November 2023

19,399

Depreciation

At 1 December 2022

9,817

Charge for the year

1,846

At 30 November 2023

11,663

Carrying amount

At 30 November 2023

7,736

At 30 November 2022

8,420

 

5

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Cost

At 1 December 2022 and at 30 November 2022

200

Carrying amount

At 30 November 2023

200

At 30 November 2022

200

Details of the investments in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

MWR Records Retro Limited
 

England and Wales

Ordinary shares

100%

100%

MWR Horror Ltd
 

England and Wales

Ordinary shares

100%

100%

The aggregate amount of capital and reserves of MWR Records Retro Limited at the end of the period was £286.

The aggregate amount of capital and reserves of MWR Horror Ltd at the end of the period was £100.

 

Matt Waterhouse Represents Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

6

Debtors

Note

2023
 £

2022
 £

Trade debtors

 

-

25,239

Amounts owed by related parties

9

186,333

171,207

Other debtors

 

62,584

-

   

248,917

196,446

 

7

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Trade creditors

 

5,313

7,265

Amounts due to related parties

9

855

-

Social security and other taxes

 

-

7,243

Other creditors

 

13,600

-

Accrued expenses

 

2,625

17,643

Corporation tax liability

90,546

22,208

 

112,939

54,359

 

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

9

Related party transactions

Summary of transactions with other related parties

At 30 November 2023 the company was owed £186,333 by (2022: £169,337) the director in the form of a director's loan account. Interest of £5,648 (2022: £2,136) was charged on this balance, and there are no fixed repayment terms.

At 30 November 2023 the company owed £855 (2022: £1,870 owed from) to MWR Records Retro Limited, its wholly owned subsidiary. No interest was charged on this balance, and there are no fixed repayment terms.