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Registered number: OC421262
Matcap LLP
Unaudited Financial Statements
For The Year Ended 31 March 2025
Michael Price Associates Limited
Matcap LLP
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—5

Page 1
Matcap LLP
Balance Sheet
As At 31 March 2025
Balance Sheet
Registered number: OC421262

| 2025 | 2024 as restated
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 578 |  | 1,111
Investments | 5 |  | 1 |  | 1
|  |  | 579 |  | 1,112
CURRENT ASSETS
Debtors | 6 | 8,014,900 |  | 6,157,119 |
Cash at bank and in hand |  | 17,859 |  | 13,832 |
|  | 8,032,759 |  | 6,170,951 |
Creditors: Amounts Falling Due Within One Year | 7 | (3,499,415 ) |  | (1,241,581 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 4,533,344 |  | 4,929,370
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 4,533,923 |  | 4,930,482
Creditors: Amounts Falling Due After More Than One Year | 8 |  | - |  | (9,718 )
NET ASSETS ATTRIBUTABLE TO MEMBERS |  |  | 4,533,923 |  | 4,920,764
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability |  | 4,297,827 |  | 4,297,827 |
Other amounts |  | - |  | 386,841 |
|  |  | 4,297,827 |  | 4,684,668
Equity
Members' other interests
Other reserves |  | 236,096 |  | 236,096 |
|  |  | 236,096 |  | 236,096
|  |  | 4,533,923 |  | 4,920,764
TOTAL MEMBERS' INTEREST
Amounts due from members |  |  | (1,660,747) |  | (493,806)
Loans and other debts due to members |  |  | 4,297,827 |  | 4,684,668
Members' other interests |  |  | 236,096 |  | 236,096
|  |  | 2,873,176 |  | 4,426,958

Page 1
Page 2
Matcap LLP
Balance Sheet (continued)
As At 31 March 2025
For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members

G B Fry Designated Member
16/01/2026

The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Matcap LLP
Notes to the Financial Statements
For The Year Ended 31 March 2025
Notes to the Financial Statements
1. General Information
Matcap LLP is a limited liability partnership, incorporated in England & Wales, registered number OC421262 . The Registered Office is Office 7 35-37 Ludgate Hill, London, EC4M 7JN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Going Concern Disclosure
The company is reliant on the continued financial support of the wider Together Group. The members have considered the company’s ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements and have received a letter of support from the Togther Group confirming its intention to provide such financial support as may be necessary to enable the company to meet its liabilities as they fall due for that period.
The members have assessed the ability of the Together Group to provide this support and, based on the parent company's financial forecasts and available resources, have concluded that this support can and will be provided. In making this assessment, the directors have taken into account the parent company's strong trading performance and cash flow generation.
As a result, the members have not identified any material uncertainties related to events or conditions that may cast significant doubt about the LLP's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment | 33% Straight Line

2.5. Financial Instruments
Financial instruments are recognised when the LLP becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire.
Financial instruments are measured at fair value at initial recognition which is normally the transaction price. At the end of each financial period, the financial instruments are measured at fair value with all changes in fair value recognised in profit or loss.
Receivables where payment is due after more than one year, or if there is any other indication of a financing transaction, are recorded initially at fair value equal to the amount expected to be received, discounted at a market-related interest rate. Subsequently finance income is recognised over the period to the expected date of payment.
Page 3
Page 4
Matcap LLP
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Investments in group undertakings
Investments in subsidiary undertakings and investments in associated undertakings are recognised at cost less impairment.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)
- -
4. Tangible Assets

| Computer Equipment
--- | ---
| £
Cost
As at 1 April 2024 | 1,600
As at 31 March 2025 | 1,600
Depreciation
As at 1 April 2024 | 489
Provided during the period | 533
As at 31 March 2025 | 1,022
Net Book Value
As at 31 March 2025 | 578
As at 1 April 2024 | 1,111

5. Investments

| Subsidiaries
--- | ---
| £
Cost or Valuation
As at 1 April 2024 | 1
As at 31 March 2025 | 1
Provision
As at 1 April 2024 | -
As at 31 March 2025 | -
Net Book Value
As at 31 March 2025 | 1
As at 1 April 2024 | 1

Page 4
Page 5
Matcap LLP
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
6. Debtors

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 366,006 |  | (273,743 )
Prepayments and accrued income | 542,828 |  | 273,743
Other debtors | 9,636 |  | -
VAT | 179,783 |  | 155,700
Amounts owed by group undertakings | 5,255,900 |  | 5,507,613
Amounts due from members | 1,660,747 |  | 493,806
| 8,014,900 |  | 6,157,119

7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Trade creditors | 1,137,155 |  | 1,016,069
Bank loans and overdrafts | 9,718 |  | 10,883
Other loans | 2,077,719 |  | -
Amounts owed to group undertakings | 27,589 |  | 207,973
Other creditors | 247,234 |  | 6,656
| 3,499,415 |  | 1,241,581

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024 as restated
--- | --- | --- | ---
| £ |  | £
Bank loans | - |  | 9,718

9. Loans and other debts due to members
Loans and other debts due to members' (other than members' capital classified as debt) would rank secondary to other creditors.
Page 5