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REGISTERED NUMBER: 06769385 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Matrix Office Supplies Ltd

Matrix Office Supplies Ltd (Registered number: 06769385)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Matrix Office Supplies Ltd

Company Information
for the Year Ended 31 December 2021







DIRECTORS: N Hakim
Mrs R Hakim





SECRETARY: Mrs R Hakim





REGISTERED OFFICE: Unit 1b Barton Hill Trading Estate
Herapath Street
Bristol
BS5 9RD





REGISTERED NUMBER: 06769385 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Matrix Office Supplies Ltd (Registered number: 06769385)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,924 303,248

CURRENT ASSETS
Stocks 25,530 22,209
Debtors 5 649,387 791,462
Cash at bank and in hand 3,102 64,620
678,019 878,291
CREDITORS
Amounts falling due within one year 6 199,943 239,332
NET CURRENT ASSETS 478,076 638,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

756,000

942,207

CREDITORS
Amounts falling due after more than one year 7 131,390 292,794
NET ASSETS 624,610 649,413

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 624,510 649,313
SHAREHOLDERS' FUNDS 624,610 649,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 22 June 2022 and were signed on its behalf by:





N Hakim - Director


Matrix Office Supplies Ltd (Registered number: 06769385)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Matrix Office Supplies Ltd 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on straight line basis
Motor vehicles - 25% on straight line basis
Computer equipment - 25% on straight line basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 8 ) .

Matrix Office Supplies Ltd (Registered number: 06769385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 278,217 13,473 92,571 30,183 414,444
Additions - 1,294 - 1,948 3,242
Disposals - - (14,520 ) (149 ) (14,669 )
At 31 December 2021 278,217 14,767 78,051 31,982 403,017
DEPRECIATION
At 1 January 2021 38,950 13,473 37,285 21,488 111,196
Charge for year 5,565 81 19,513 3,407 28,566
Eliminated on disposal - - (14,520 ) (149 ) (14,669 )
At 31 December 2021 44,515 13,554 42,278 24,746 125,093
NET BOOK VALUE
At 31 December 2021 233,702 1,213 35,773 7,236 277,924
At 31 December 2020 239,267 - 55,286 8,695 303,248

Included within Motor vehicles are assets of £Nil (2020: £55,286), which were acquired under a hire purchase agreement or finance lease.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 89,196 66,047
Other debtors 552,982 633,128
Directors' loan accounts - 86,086
Deferred tax asset 5,485 4,158
Prepayments and accrued income 1,724 2,043
649,387 791,462

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 34,084 15,651
Hire purchase contracts - 26,154
Credit card 6,917 1,113
Trade creditors 56,703 65,806
American Express Business Card 14,333 18,453
Tax 23,602 102,156
Social security and other taxes 3,304 1,695
VAT 17,282 4,521
Other creditors 40,031 1
Directors' loan accounts 187 -
Accrued expenses 3,500 3,782
199,943 239,332

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 131,390 154,483
Hire purchase contracts - 138,311
131,390 292,794

Matrix Office Supplies Ltd (Registered number: 06769385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £109,000 (2020 - £54,000) were paid to the directors .

The Electronics Warehouse Limited
Mr Hakim is a director and controlling shareholder of the above Company.
Within creditors due in less than one year there is a balance due to The Electronics Warehouse Limited of £40,031 (2020: £85,970 debtor due in less than one year).
During the year, the company made sales of £5,503,722 (2020: £2,617,040) at normal commercial rates.

NRZ Properties Limited
Mr Hakim is a director and Controlling shareholder of the above Company.
Within Debtors due in less than one year there is a balance due from NRZ Properties Limited of £567,004 (2020: £316,682).

9. ULTIMATE CONTROLLING PARTY

The Company's Ultimate controlling party is Mr and Mrs Hakim by virtue of their shareholdings.