Company registration number 10155648 (England and Wales)
MATTER ARCHITECTURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MATTER ARCHITECTURE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
MATTER ARCHITECTURE LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
346
1,192
Investments
4
10
10
356
1,202
Current assets
Debtors
6
20,647
23,876
Cash at bank and in hand
16,660
15,829
37,307
39,705
Creditors: amounts falling due within one year
7
(139,329)
(121,692)
Net current liabilities
(102,022)
(81,987)
Total assets less current liabilities
(101,666)
(80,785)
Long-term shareholder loans
8
113,592
134,167
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
(215,260)
(214,954)
Total equity
(101,666)
(80,785)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Mr J B McDowell
Director
Company Registration No. 10155648
MATTER ARCHITECTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Matter Architecture Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39 Lauriston Road, London, E9 7EY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £101,666 (2023: £80,785) as a result of losses made to date. The financial statements have been prepared on a going concern basis as the director has confirmed that he will continue to support the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.
1.3
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% straight line
Computer equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with bank.
MATTER ARCHITECTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
MATTER ARCHITECTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
5
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
6,235
18,507
24,742
Disposals
(1,379)
(8,855)
(10,234)
At 30 June 2024
4,856
9,652
14,508
Depreciation and impairment
At 1 July 2023
5,858
17,692
23,550
Depreciation charged in the year
377
469
846
Eliminated in respect of disposals
(1,379)
(8,855)
(10,234)
At 30 June 2024
4,856
9,306
14,162
Carrying amount
At 30 June 2024
346
346
At 30 June 2023
377
815
1,192
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
10
10
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 July 2023 & 30 June 2024
10
Carrying amount
At 30 June 2024
10
At 30 June 2023
10
MATTER ARCHITECTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Subsidiaries
Details of the company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
More Matter Limited
39 Lauriston Road, London, E9 7EY
Architectural Services
Ordinary
100.00
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,116
9,060
Other debtors
18,531
14,816
20,647
23,876
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,017
17,064
Amounts owed to group undertakings
111,222
90,103
Taxation and social security
8,869
2,737
Other creditors
8,221
11,788
139,329
121,692
8
Long-term shareholders' loans
2024
2023
£
£
Shareholders' loans
113,592
134,167
The shareholders have agreed not to call for repayment of their loans until June 2025.
9
Called up share capital
2024
2023
£
£
Ordinary share capital
1 Ordinary share of £1 each
1
2
1 Ordinary A share of £1 each
1
-
2
2
MATTER ARCHITECTURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
10
Related party transactions
At the balance sheet date, the company was owed £111,222 (2023: £90,103) to More Matter Limited, a related party by virtue of having common directors and shareholders.
At the balance sheet date, £113,592 (2023: £134,167) was owed to the shareholders of the company.