| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Matchware Limited |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| 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 | 9 | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium | 11 |
| Revaluation reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| Matchware Limited (Registered number: 03227036) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | ACCOUNTING POLICIES |
| Accounting basis and standards |
| 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 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
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 |
| Other debtors |
| Amounts owed by group |
| undertakings | 927,007 | 22,442 |
| Corporation tax |
| Deferred tax asset | 28,393 | - |
| Prepayments and accrued income |
| 6. | CURRENT ASSET INVESTMENTS |
| 2024 | 2023 |
| £ | £ |
| Other investments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT | 319,523 | 256,965 |
| Other creditors |
| Amounts owed to group |
| undertakings | 988,074 | 1,142,860 |
| Accruals and deferred income |
| 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 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| £ | £ |
| Deferred tax | - | 86,088 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Utilised during year | ( |
) |
| 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: | £ | £ |
| Ordinary shares | 1 | 1,052 | 1,052 |
| 11. | RESERVES |
| Retained | Share | Revaluation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 January 2024 | 1,541,880 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Cash share issue | - | - | (258,265 | ) | (258,265 | ) |
| At 31 December 2024 | 21,265 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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. |