Asset Match Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07681197 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

ASSET MATCH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S J Lucas

I Baillie

M Rees-Mogg

M Wilson

REGISTERED OFFICE:

New Broad Street House,

35 New Broad Street,

London

EC2M 1NH

REGISTERED NUMBER:

07681197 (England and Wales)

AUDITORS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

60,434

70,014

Investments

6

134,515

133,990

194,949

204,004

CURRENT ASSETS

Debtors

7

104,308

119,527

Cash at bank

303,157

88,219

407,465

207,746

CREDITORS

Amounts falling due within one year

8

195,433

127,968

NET CURRENT ASSETS

212,032

79,778

TOTAL ASSETS LESS CURRENT LIABILITIES

406,981

283,782

CREDITORS

Amounts falling due after more than one year

9

510,359

534,906

NET LIABILITIES

(103,378

)

(251,124

)

CAPITAL AND RESERVES

Called up share capital

11

219

199

Share premium

3,380,434

3,085,374

Retained earnings

(3,484,031

)

(3,336,697

)

SHAREHOLDERS' FUNDS

(103,378

)

(251,124

)

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 28 September 2021 and were signed on its behalf by:

S J Lucas - Director

M Wilson - Director

1.	STATUTORY INFORMATION

Asset Match 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Due to the company still investing in its development, the company is showing a negative balance sheet position as a result of continued losses incurred. The directors confirm that they will continue to support the company until the company begins to be profitable by way of capital investments and fund raises.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets

The company purchased a licence to operate the share trading platform. This licence is to be amortised on a straight line basis over 5 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 etc

-

33% on cost, 20% on cost and 10% on cost

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments comprise investments in unquoted equity instruments which are measured at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

100,000

AMORTISATION

At 1 January 2020

and 31 December 2020

100,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

301,605

Additions

22,148

Disposals

(24,468

)

At 31 December 2020

299,285

DEPRECIATION

At 1 January 2020

231,591

Charge for year

31,728

Eliminated on disposal

(24,468

)

At 31 December 2020

238,851

NET BOOK VALUE

At 31 December 2020

60,434

At 31 December 2019

70,014

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

133,990

Additions

525

At 31 December 2020

134,515

NET BOOK VALUE

At 31 December 2020

134,515

At 31 December 2019

133,990

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

as restated

£

£

Trade debtors

66,875

71,795

Other debtors

37,433

47,732

104,308

119,527

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/20

31/12/19

as restated

£

£

Trade creditors

68,824

9,349

Taxation and social security

10,705

27,374

Other creditors

115,904

91,245

195,433

127,968

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/20

31/12/19

as restated

£

£

Other creditors

510,359

534,906

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/20

31/12/19

as restated

£

£

Within one year

-

64,566

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31/12/20

31/12/19

value:

as restated

£

£

2,189,421

Share capital 1

0.000

1

219

199

196,720 Ordinary shares of 0.0001 each were allotted at a premium of £1.50 per share during the year.

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

The Report of the Auditors was unqualified.

Material uncertainties related to going concern

We draw attention to page 7 in the financial statements, which indicates that the company incurred a net loss of £147,334 during the year ended 31 December 2020 and, as of that date, the company's total liabilities exceeded its total assets by £103,378. As stated in Note 2, these events or conditions indicate that a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

P Sartain (FCCA) (Senior Statutory Auditor)

for and on behalf of CBHC Limited

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed S Lucas £510,359 (2019: £534,906). Interest is payable on this loan at 5%

14.	ULTIMATE CONTROLLING PARTY

The company was under the control of the directors throughout the period.