REGISTERED NUMBER: 09817982 (England and Wales)

Audited Financial Statements for the Year Ended 31 December 2024

for

Matchstick Monkey Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

9

DIRECTORS:

Mr T Suleyman

Ms K A Windridge

Mr S L Windridge

SECRETARY:

Mr S D Karunyanesan

REGISTERED OFFICE:

3rd Floor

9 Hatton Street

London

NW8 8PL

REGISTERED NUMBER:

09817982 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alan Kaye FCA

AUDITORS:

BBK Partnership

Chartered Accountants

& Statutory Auditors

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Intangible assets

5

104,413

125,326

Tangible assets

6

41,905

73,277

Investments

7

111,852

111,852

258,170

310,455

CURRENT ASSETS

Stocks

847,063

817,243

Debtors

8

1,215,053

962,141

Cash at bank

295,440

504,779

2,357,556

2,284,163

CREDITORS

Amounts falling due within one year

9

(406,942

)

(607,440

)

NET CURRENT ASSETS

1,950,614

1,676,723

TOTAL ASSETS LESS CURRENT LIABILITIES

2,208,784

1,987,178

CREDITORS

Amounts falling due after more than one year

10

(224,160

)

(492,545

)

PROVISIONS FOR LIABILITIES

(17,583

)

(20,128

)

NET ASSETS

1,967,041

1,474,505

CAPITAL AND RESERVES

Called up share capital

11

211

211

Share premium

12

5,989

5,989

Retained earnings

12

1,960,841

1,468,305

SHAREHOLDERS' FUNDS

1,967,041

1,474,505

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 Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Mr T Suleyman - Director

1.	STATUTORY INFORMATION

Matchstick Monkey Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover

Turnover from the sale of is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Intangible assets

Intangible assets acquired separately from a business are capitalised at cost. Intangible assets acquired on business combinations are capitalised separately from goodwill if the fair value can be measured reliably on initial recognition.

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Patents and licences are being amortised evenly over their estimated useful life of five years.

Development costs are being amortised evenly over their estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Cash and cash equivalents

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

Foreign currency transactions and balances

Transactions in foreign currency are initially recorded at the functional currency rate prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective financial currency of the entity at the rate prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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. They are subsequently measured at amortised cost using the effective interest method less provision for impairment. 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 receivables.

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 payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlements 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 subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Going Concern

As part of their assessment of going concern, the directors of the company have considered the liquidity position and funding requirements for at least 12 months from the date of approval of these financial statements. The directors consider it appropriate to prepare the financial statement on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	AUDITORS' REMUNERATION

31.12.24

31.12.23

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

4,000

4,000

5.	INTANGIBLE FIXED ASSETS

Patents

and

Development

licences

costs

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

192,931

18,350

211,281

AMORTISATION

At 1 January 2024

67,838

18,117

85,955

Amortisation for year

20,680

233

20,913

At 31 December 2024

88,518

18,350

106,868

NET BOOK VALUE

At 31 December 2024

104,413

-

104,413

At 31 December 2023

125,093

233

125,326

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

319,311

3,560

9,948

332,819

Additions

8,019

-

2,249

10,268

At 31 December 2024

327,330

3,560

12,197

343,087

DEPRECIATION

At 1 January 2024

246,494

3,560

9,488

259,542

Charge for year

41,117

-

523

41,640

At 31 December 2024

287,611

3,560

10,011

301,182

NET BOOK VALUE

At 31 December 2024

39,719

-

2,186

41,905

At 31 December 2023

72,817

-

460

73,277

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

111,852

NET BOOK VALUE

At 31 December 2024

111,852

At 31 December 2023

111,852

8.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

1,037,614

731,945

Other debtors

1,281

1,281

Prepayments

19,848

12,183

1,058,743

745,409

Amounts falling due after more than one year:

Amounts owed by group undertakings

110,060

125,732

Other debtors

46,250

91,000

156,310

216,732

Aggregate amounts

1,215,053

962,141

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

270,561

463,473

Social security and other taxes

12,990

21,605

VAT

43,699

58,563

Other creditors

6,435

33,389

Accrued expenses

73,257

30,410

406,942

607,440

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other loans - 1-2 years

137,500

287,500

Other creditors

86,660

205,045

224,160

492,545

The other creditors includes a sum of £137,500 (2023: ££287,500) owed to Lloyds Bank PLC relating to CBILS. This amount is secured by fixed and floating charge over the assets of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

20,000

Ordinary

0.01

200

200

1,054

B Ordinary

0.01

11

11

211

211

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

1,468,305

5,989

1,474,294

Profit for the year

492,536

492,536

At 31 December 2024

1,960,841

5,989

1,966,830

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

The Report of the Auditors was unqualified.

Alan Kaye FCA (Senior Statutory Auditor)

for and on behalf of BBK Partnership

14.	RELATED PARTY DISCLOSURES

During the year, the company paid management charges of £325,000 (2023: £286,200) to Low Profile Fashions Limited. These management charges relate to administrative costs.

During the year, the company paid management charges of £0(2023: £26,875) to Hawes and Curtis Limited. These management charges relate to administrative costs.

During the year, the company received royalty and management charges of £0 (2023: £0) from Matchstick Monkey Inc.

During the year, the company received management charges of £21,750 (2023: £21,500) from Babocush Limited. These management charges relate to administrative costs.- Management charges receivables

The company owed the amount of £13,866.74 (2023: £38,281) to Low Profile Fashions Limited at the year-end.

The company owed the amount of £70,500 (2023: £165,000) to Low Profile Holdings Limited at the year-end.

The company owed the amount of £2,293.23 (2023: £1,764) to Hawes & Curtis Limited at the year-end.

The company was owed the amount of £42,250 (2023: £85,000) from Baby Grey Ltd at the year-end.

The company was owed the amount of £110,060 (2023: £125,732) from Matchstick Monkey USA Inc at the year-end.

All the above companies are under common control of the director Mr T Suleyman.

15.

CHARGES

During the year the company had granted charges in favour of Lloyds Bank PLC over its fixed and floating assets covering all property and undertaking.