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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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ASSET MATCH LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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FOR |
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ASSET MATCH LIMITED |
ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ASSET MATCH LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Suite 3, The Hamilton Centre |
Rodney Way |
Chelmsford |
Essex |
CM1 3BY |
ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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BALANCE SHEET |
31ST DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Investments | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CREDITORS |
Amounts falling due after more than
one year |
9 |
( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Asset Match Limited is a
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company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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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. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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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. |
ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
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COST |
At 1st January 2018 |
and 31st December 2018 |
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AMORTISATION |
At 1st January 2018 |
and 31st December 2018 |
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NET BOOK VALUE |
At 31st December 2018 |
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At 31st December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st January 2018 |
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Additions |
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At 31st December 2018 |
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DEPRECIATION |
At 1st January 2018 |
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Charge for year |
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At 31st December 2018 |
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NET BOOK VALUE |
At 31st December 2018 |
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At 31st December 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CURRENT ASSET INVESTMENTS |
2018 | 2017 |
£ | £ |
Unlisted investments | 5,000 | 250,000 |
ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Other creditors |
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10. | LEASING AGREEMENTS |
At the year end, the company had total commitments under operating leases expiring in 2 years |
for rent of £127,500. |
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At the year end, the company had total commitments under operating leases expiring in 2 years |
for stationery equipment of £1,632. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Share capital 1 | 0.000 | 1 | 199 | 190 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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Material uncertainties related to going concern |
We draw attention to page 5 in the financial statements, which indicates that the company |
incurred a net loss of £94,887 during the year ended 31 December 2018 and, as of that date, the |
company's total liabilities exceeded its total assets by £196,923. 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. |
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for and on behalf of
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13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the company owed the following amounts to the Directors of the |
company: |
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S Lucas £509,434 (2017: £403,798) |
I Baillie £NIL (2017: £27,440) |
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During the year, the company entered into a convertible loan with the director, S Lucas for |
£690,000.. The convertible loan was partly converted in the year into 52,084 shares of the |
company which made up £199,997 of the share premium. The remaining balance (including |
interest) is £509,434 which, if converted, would be redeemed for 132,665 shares. |
ASSET MATCH LIMITED (REGISTERED NUMBER: 07681197) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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14. | ULTIMATE CONTROLLING PARTY |
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The company was under the control of the directors throughout the period. |