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REGISTERED NUMBER: 03227036 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Matchware Limited

Matchware Limited (Registered number: 03227036)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Matchware Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: U Merrild





REGISTERED OFFICE: 823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ





REGISTERED NUMBER: 03227036 (England and Wales)





AUDITORS: Krogh & Partners Limited, (Statutory Auditor)
823 Salisbury House
29 Finsbury Circus
London
EC2M 5QQ

Matchware Limited (Registered number: 03227036)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 4,140 16,336
Investments 4 6,950 6,950
11,090 23,286

CURRENT ASSETS
Debtors 5 2,237,108 656,266
Investments 6 - 2,051,523
Cash at bank 1,773,023 2,406,414
4,010,131 5,114,203
CREDITORS
Amounts falling due within one year 7 3,795,600 3,325,710
NET CURRENT ASSETS 214,531 1,788,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,621

1,811,779

CREDITORS
Amounts falling due after more than one
year

8

(203,304

)

(182,759

)

PROVISIONS FOR LIABILITIES 9 - (86,088 )
NET ASSETS 22,317 1,542,932

CAPITAL AND RESERVES
Called up share capital 10 1,052 1,052
Share premium 11 21,265 21,265
Revaluation reserve 11 - 258,265
Retained earnings 11 - 1,262,350
SHAREHOLDERS' FUNDS 22,317 1,542,932

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 June 2025 and were signed by:





U Merrild - Director


Matchware Limited (Registered number: 03227036)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES

Accounting basis and standards
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 the more important accounting policies, which have been applied consistently, is set out below:

Turnover

Turnover derives from the principal activity of the Company and is represented by invoiced sales excluding Value Added Tax.

Interest and similar income and charges

Interest and similar income and charges are recognised in the profit and loss account over the term of such instruments at a constant rate on the carrying amount.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Assets and liabilities in foreign currencies are translated into sterling at rates of exchange ruling at the end of the financial year. All exchange differences are dealt with in the profit and loss account.

Tangible assets

Tangible assets are stated at cost, net of depreciation and any provision for impairment.

Depreciation is provided on a straight line basis over the estimated useful lives of assets as follows:

Computer and other office equipment 4 Years

Debtors

Debtors are valued individually and there are made provision according to this valuation.

Creditors

Creditors are carried at payment or settlement amounts. Where the time value of money is material, creditors are carried at amortized cost.

Investments

Investments under fixed assets are stated at the company's share of the value of the underlying net assets less provisions. The positive revaluation from cost to underlying net assets value is recorded through the revaluation reserve. The negative revaluation is included in the profit and loss account.

Investments under current assets are revalued annually. On an investment by investment basis any surplus is transferred to the revaluation reserve. Any deficit is included in the profit and loss account.

Taxation

Current tax and deferred taxation, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Matchware Limited (Registered number: 03227036)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
Deferred taxation is provided in full on an undiscounted basis, on all timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in tax computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised where it is considered more likely than not that future profits will be available for offset.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2024 79,036
Disposals (5,172 )
At 31 December 2024 73,864
DEPRECIATION
At 1 January 2024 62,700
Charge for year 12,196
Eliminated on disposal (5,172 )
At 31 December 2024 69,724
NET BOOK VALUE
At 31 December 2024 4,140
At 31 December 2023 16,336

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 6,950
NET BOOK VALUE
At 31 December 2024 6,950
At 31 December 2023 6,950


Representing:
Class of
shares held
Proportion of voting
rights held

Nature of business


Matchware Inc.


Ordinary


100%
Developing and trading in software and
hardware and supplying consultancy
services.

Matchware Inc. is a company incorporated in the United States.

Matchware Limited (Registered number: 03227036)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,221,484 548,052
Other debtors 18,376 -
Amounts owed by group
undertakings 927,007 22,442
Corporation tax - 28,393
Deferred tax asset 28,393 -
Prepayments and accrued income 41,848 57,379
2,237,108 656,266

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other investments - 2,051,523

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 32,889 22,177
Tax 720,759 450,856
VAT 319,523 256,965
Other creditors 1,502 9,599
Amounts owed to group
undertakings 988,074 1,142,860
Accruals and deferred income 1,732,853 1,443,253
3,795,600 3,325,710

The bank loans and overdrafts are secured by a charge over the Company's investments shown under current assets.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Accruals and deferred income 203,304 182,759

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 86,088

Deferred
tax
£   
Balance at 1 January 2024 86,088
Utilised during year (86,088 )
Revaluation of investment
Balance at 31 December 2024 -

Matchware Limited (Registered number: 03227036)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,052 Ordinary shares 1 1,052 1,052

11. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 January 2024 1,262,350 21,265 258,265 1,541,880
Profit for the year 2,330,314 2,330,314
Dividends (3,592,664 ) (3,592,664 )
Cash share issue - - (258,265 ) (258,265 )
At 31 December 2024 - 21,265 - 21,265

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Lindegaard (Senior Statutory Auditor)
for and on behalf of Krogh & Partners Limited, (Statutory Auditor)

13. RELATED PARTY DISCLOSURES

During the year the company purchased a number of services from the associated companies, Matchware Inc. and Matchware A/S. All transactions are performed at arm's length.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.