8
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
12,971
535
13,506
12,971
23
12,994
512
xbrli:pure
xbrli:shares
iso4217:GBP
03676893
2021-04-01
2022-03-31
03676893
2022-03-31
03676893
2021-03-31
03676893
2020-04-01
2021-03-31
03676893
2021-03-31
03676893
2020-03-31
03676893
bus:RegisteredOffice
2021-04-01
2022-03-31
03676893
bus:LeadAgentIfApplicable
2021-04-01
2022-03-31
03676893
bus:Director1
2021-04-01
2022-03-31
03676893
bus:Director5
2021-04-01
2022-03-31
03676893
bus:Director3
2021-04-01
2022-03-31
03676893
bus:Director3
2022-03-31
03676893
core:WithinOneYear
2022-03-31
03676893
core:WithinOneYear
2021-03-31
03676893
core:ShareCapital
2022-03-31
03676893
core:ShareCapital
2021-03-31
03676893
core:CapitalRedemptionReserve
2022-03-31
03676893
core:CapitalRedemptionReserve
2021-03-31
03676893
core:RetainedEarningsAccumulatedLosses
2022-03-31
03676893
core:RestatedAmount
core:RetainedEarningsAccumulatedLosses
2021-03-31
03676893
core:RestatedAmount
2021-03-31
03676893
bus:Director1
2022-03-31
03676893
bus:Director5
2022-03-31
03676893
bus:Director1
2020-03-31
03676893
bus:Director3
2020-03-31
03676893
bus:Director5
2020-03-31
03676893
bus:Director1
2020-04-01
2021-03-31
03676893
bus:Director3
2020-04-01
2021-03-31
03676893
bus:Director5
2020-04-01
2021-03-31
03676893
bus:SmallEntities
2021-04-01
2022-03-31
03676893
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
03676893
bus:FullAccounts
2021-04-01
2022-03-31
03676893
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
03676893
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
03676893
core:ComputerEquipment
2021-04-01
2022-03-31
03676893
core:ComputerEquipment
2021-03-31
03676893
core:ComputerEquipment
2022-03-31
COMPANY REGISTRATION NUMBER:
03676893
Filleted Unaudited Financial Statements
|
|
Year ended 31 March 2022
Report to the board of directors on the preparation of the unaudited statutory financial statements
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Notes to the financial statements
|
5
|
|
|
Year ended 31 March 2022
The directors present their report and the unaudited financial statements of the company for the year ended
31 March 2022
.
Directors
The directors who served the company during the year were as follows:
Mr T S Page
|
|
Mr R R Alexander
|
|
Mr D Barclay
|
(Resigned
8 September 2021)
|
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
7 November 2022
and signed on behalf of the board by:
Registered office:
|
Thomas House
|
84 Eccleston Square
|
London
|
United Kingdom
|
SW1V 1PX
|
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Africa Matters Limited
|
|
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Africa Matters Limited for the year ended 31 March 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
BAILHACHE LINTON LLP
Accountants
Bourne House
475 Godstone Road
Whyteleafe
Surrey
CR3 0BL
7 November 2022
Statement of Financial Position
|
|
31 March 2022
|
2022
|
2021
|
|
|
|
(restated)
|
Note
|
£
|
£
|
£
|
|
|
|
|
Fixed assets
Current assets
Debtors
|
6
|
194,908
|
|
130,009
|
Cash at bank and in hand
|
223,630
|
|
266,760
|
|
---------
|
|
---------
|
|
418,538
|
|
396,769
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
117,551
|
|
115,001
|
|
---------
|
|
---------
|
Net current assets
|
|
300,987
|
281,768
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
301,499
|
281,768
|
|
|
|
|
|
Provisions
Provision for deferred taxation
|
|
(
162)
|
–
|
|
|
---------
|
---------
|
Net assets
|
|
301,661
|
281,768
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
9
|
|
4,500
|
4,500
|
Capital redemption reserve
|
|
(
53,200)
|
(
53,200)
|
Profit and loss account
|
|
350,361
|
330,468
|
|
|
---------
|
---------
|
Shareholders funds
|
|
301,661
|
281,768
|
|
|
---------
|
---------
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued)
|
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
7 November 2022
, and are signed on behalf of the board by:
Company registration number:
03676893
Notes to the Financial Statements
|
|
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Thomas House, 84 Eccleston Square, London, SW1V 1PX, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Investments held as fixed assets are shown at cost less provision for impairment.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) No disclosure has been given for the aggregate remuneration of key management personnel.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Computer Equipment
|
-
|
50% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2021:
9
).
5.
Tangible assets
|
Equipment
|
|
£
|
Cost
|
|
At 1 April 2021 (as restated)
|
12,971
|
Additions
|
535
|
|
--------
|
At 31 March 2022
|
13,506
|
|
--------
|
Depreciation
|
|
At 1 April 2021
|
12,971
|
Charge for the year
|
23
|
|
--------
|
At 31 March 2022
|
12,994
|
|
--------
|
Carrying amount
|
|
At 31 March 2022
|
512
|
|
--------
|
At 31 March 2021
|
–
|
|
--------
|
|
|
6.
Debtors
|
2022
|
2021
|
|
|
(restated)
|
|
£
|
£
|
Trade debtors
|
176,395
|
99,500
|
Other debtors
|
18,513
|
30,509
|
|
---------
|
---------
|
|
194,908
|
130,009
|
|
---------
|
---------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
|
(restated)
|
|
£
|
£
|
Bank loans and overdrafts
|
48,334
|
50,000
|
Trade creditors
|
6,272
|
44,155
|
Corporation tax
|
183
|
121
|
Social security and other taxes
|
22,832
|
7,216
|
Other creditors
|
39,930
|
13,509
|
|
---------
|
---------
|
|
117,551
|
115,001
|
|
---------
|
---------
|
|
|
|
8.
Prior period adjustment
Corporation tax The accounts have been restated to adjust for the corporation tax refund originally shown as an asset of £20,272 in the year ended March 2021 which is no longer due. The refund of corporation tax arose due to the carry back of losses which was later decided to be carried forward instead. The restated figure shows a liability of £121.
9.
Called up share capital
|
|
No.
|
2022 £
|
No
|
2021 £
|
|
|
£
|
£
|
£
|
£
|
|
Ordinary shares of £1 each
|
4,500
|
4,500
|
4,500
|
4,500
|
|
|
|
|
|
|
The company operates an employee option pool for the purposes of staff retention and motivation, this pool has a total of 900 share options available for issuance. None have been exercised as at 31 March 2022.
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2022
|
2021
|
|
|
(restated)
|
|
£
|
£
|
Not later than 1 year
|
19,080
|
19,140
|
|
--------
|
--------
|
|
|
|
11.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2022
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
Mr T S Page
|
–
|
(
17,813)
|
(
17,813)
|
|
Mr D Barclay
|
–
|
–
|
–
|
|
Mr R R Alexander
|
–
|
3,063
|
3,063
|
|
|
----
|
--------
|
--------
|
|
|
–
|
(
14,750)
|
(
14,750)
|
|
|
----
|
--------
|
--------
|
|
|
|
|
|
|
2021
|
|
|
Balance brought forward
|
Advances/ (credits) to the directors
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
Mr T S Page
|
(
2,778)
|
2,778
|
–
|
|
Mr D Barclay
|
(
2,778)
|
2,778
|
–
|
|
Mr R R Alexander
|
(
4,444)
|
4,444
|
–
|
|
|
--------
|
--------
|
----
|
|
|
(
10,000)
|
10,000
|
–
|
|
|
--------
|
--------
|
----
|
|
|
|
|
|