Matcap LLP

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

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

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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.

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.

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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

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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.

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