Caseware UK (AP4) 2025.0.111 2025.0.111 2025-03-31 2025-03-31 true false 2024-04-01 6 No description of principal activity 5 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05598888 2024-04-01 2025-03-31 05598888 2023-04-01 2024-03-31 05598888 2025-03-31 05598888 2024-03-31 05598888 c:CompanySecretary1 2024-04-01 2025-03-31 05598888 c:Director1 2024-04-01 2025-03-31 05598888 c:RegisteredOffice 2024-04-01 2025-03-31 05598888 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 05598888 d:Buildings d:ShortLeaseholdAssets 2025-03-31 05598888 d:Buildings d:ShortLeaseholdAssets 2024-03-31 05598888 d:FurnitureFittings 2024-04-01 2025-03-31 05598888 d:FurnitureFittings 2025-03-31 05598888 d:FurnitureFittings 2024-03-31 05598888 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05598888 d:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 05598888 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 05598888 d:CurrentFinancialInstruments 2025-03-31 05598888 d:CurrentFinancialInstruments 2024-03-31 05598888 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 05598888 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05598888 d:ShareCapital 2025-03-31 05598888 d:ShareCapital 2024-03-31 05598888 d:RetainedEarningsAccumulatedLosses 2025-03-31 05598888 d:RetainedEarningsAccumulatedLosses 2024-03-31 05598888 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2025-03-31 05598888 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 05598888 c:OrdinaryShareClass1 2024-04-01 2025-03-31 05598888 c:OrdinaryShareClass1 2025-03-31 05598888 c:OrdinaryShareClass1 2024-03-31 05598888 c:FRS102 2024-04-01 2025-03-31 05598888 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 05598888 c:FullAccounts 2024-04-01 2025-03-31 05598888 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 05598888 2 2024-04-01 2025-03-31 05598888 6 2024-04-01 2025-03-31 05598888 e:PoundSterling 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05598888 MATTERHORN CAPITAL LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MATTERHORN CAPITAL LIMITED CONTENTS
| Page
Company information | 1
Balance sheet | 2 - 3
Notes to the financial statements | 4 - 13
MATTERHORN CAPITAL LIMITED COMPANY INFORMATION
Director | S Conway
Company secretary | S Conway
Registered number | 05598888
Registered office | 10 Gloucester Place
| London
| W1U 8EZ
Accountants | Blick Rothenberg Limited
| Chartered Accountants
| 16 Great Queen Street
| Covent Garden
| London
| WC2B 5AH
Page 1
|  | REGISTERED NUMBER:05598888
MATTERHORN CAPITAL LIMITED BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 27,664 |  | 29,077
Investments | 6 |  | 13,312 |  | 359
|  |  | 40,976 |  | 29,436
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1,124,283 |  | 1,660,657 |
Cash at bank and in hand |  | 98,329 |  | 227,863 |
|  | 1,222,612 |  | 1,888,520 |
Creditors: amounts falling due within one year | 8 | (6,791,699) |  | (5,462,134) |
Net current liabilities |  |  | (5,569,087) |  | (3,573,614)
Total assets less current liabilities |  |  | (5,528,111) |  | (3,544,178)
Provisions for liabilities |  |  |  |  |
Other provisions | 9 |  | (75,000) |  | (75,000)
Net liabilities |  |  | (5,603,111) |  | (3,619,178)
Capital and reserves |  |  |  |  |
Called up share capital | 10 |  | 100 |  | 100
Profit and loss account |  |  | (5,603,211) |  | (3,619,278)
Net deficit |  |  | (5,603,111) |  | (3,619,178)
Page 2
|  | REGISTERED NUMBER:05598888
MATTERHORN CAPITAL LIMITED BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved were approved and signed by the sole director.
S Conway
Director
Date: 8 June 2026
The notes on pages 4 to 13 form part of these financial statements. Page 3
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Matterhorn Capital Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 10 Gloucester Place, London W1U 8EZ. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
| 2.3 | Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has made a loss for the year of £1,983,935 and has a deficiency on total equity at the end of the year of £5,603,111. The director considers this basis to be appropriate as the company has sufficient facilities available from its director to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved. Page 4
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - |  | Over remaining lease period
|  |  |  | Fixtures and fittings | - | 20% | Reducing balance
|  |  |  | Paintings | - | 10% | Reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 5
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
| 2.7 | Cash at bank
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.8 | Share capital
Ordinary shares are classified as equity.
| 2.9 | Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Page 6
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
|  | Financial instruments (continued)
Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
| 2.10 | Leased assets: the company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
| 2.11 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 7
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.12 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.13 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.14 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'. Page 8
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation. Increases in provisions are generally charged as an expense to profit or loss.
| 2.16 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 9
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the company's accounting policies, which are described in note 2, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are critical judgements and estimations that the director has made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Dilapidations provisions The company has entered into an operating lease that includes dilapidations conditions. These may involve an outflow of resources at the termination of the lease. In determining whether there is a need for a provision, the director is required to determine his best estimate of the future expected cash flows, whilst considering historical experience and current trends. Impairment of investments, intercompany debtor balances and trade debtor balances The carrying amount of the company's investments, intercompany loans and trading balances are reviewed on a periodic basis. In determining whether there is a need for a provision, the director is required to determine his best estimate of the future expected cash flows, whilst considering historical experience and current trends.
4. | Employees
| The average monthly number of employees, including directors, during the year was 5 (2024 - 6).
Page 10
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Tangible fixed assets
|  | Short-term leasehold property | Furniture fittings and equipment | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 April 2024 | 285,153 | 525,192 | 810,345
| Additions | - | 4,202 | 4,202
| At 31 March 2025 | 285,153 | 529,394 | 814,547
| Depreciation |  |  |
| At 1 April 2024 | 285,153 | 496,115 | 781,268
| Charge for the year | - | 5,615 | 5,615
| At 31 March 2025 | 285,153 | 501,730 | 786,883
| Net book value |  |  |
| At 31 March 2025 | - | 27,664 | 27,664
| At 31 March 2024 | - | 29,077 | 29,077
6. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 April 2024 | 359 | - | 359
| Additions | - | 5,909 | 5,909
| Disposals | (90) | - | (90)
| Revaluations | - | 7,134 | 7,134
| At 31 March 2025 | 269 | 13,043 | 13,312
Page 11
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | - | 6,374
| Amounts owed by group undertakings | 854,514 | 1,301,808
| Other debtors | 122,379 | 205,028
| Prepayments | 147,390 | 147,447
|  | 1,124,283 | 1,660,657
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 214,525 | 201,699
| Amounts owed to group undertakings | 4,382,731 | 3,211,491
| Corporation tax | 63,609 | 63,609
| Other taxation and social security | 6,716 | 6,578
| Other creditors | 2,086,542 | 1,919,871
| Accruals and deferred income | 37,576 | 58,886
|  | 6,791,699 | 5,462,134
9. | Provisions
|  | Dilapidations provision
|  | £
| At 1 April 2024 | 75,000
| At 31 March 2025 | 75,000
10. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
Page 12
MATTERHORN CAPITAL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Related party transactions
| The company has taken advantage of the exemptions available under FRS 102 to not disclose transactions with 100% owned group companies. During the year, the company made payments of £299,742 (2024:£213,426) and received advances totalling £2,095,174 (2024:£1,774,663) from entities with control, joint control or significant influence over the company. At the balance sheet date, the company owed £6,443,176 (2024:£4,647,743) to these entities. During the year, the company made advances of £7,000 (2024:£19,059) and received amounts totalling £75,000 (2024:£45,000) from entities over which the company has control, joint control or significant influence. At the balance sheet date, the company was owed £54,452(2024:£115,740) by these entities, which is net of provisions of £2,332,905 (2024:£2,339,617).
Page 13