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REGISTERED NUMBER: 04938954 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

MATRIX RESOURCES LIMITED

MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

MATRIX RESOURCES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P N C Morrison
H Morrison
Mrs H F Morrison





REGISTERED OFFICE: 32 West Green
Barrington
Cambridge
CB22 7SA





REGISTERED NUMBER: 04938954 (England and Wales)





ACCOUNTANTS: Tayabali & White
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 35,099 29,146
35,099 29,146

CURRENT ASSETS
Stocks 6 33,034 36,532
Debtors 7 38,140 33,578
Cash at bank 370,837 420,661
442,011 490,771
CREDITORS
Amounts falling due within one year 8 172,074 196,314
NET CURRENT ASSETS 269,937 294,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

305,036

323,603

PROVISIONS FOR LIABILITIES 9 6,669 5,829
NET ASSETS 298,367 317,774

CAPITAL AND RESERVES
Called up share capital 10 125 125
Retained earnings 11 298,242 317,649
SHAREHOLDERS' FUNDS 298,367 317,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

BALANCE SHEET - continued
31ST MARCH 2023


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 17th October 2023 and were signed on its behalf by:





Mrs H F Morrison - Director


MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Matrix Resources 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.

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 assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - equally over the period of the lease
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
The company only has basic financial instruments at amortised cost, with ni financial instruments classified as other or basic instruments measured at fair value.

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.


MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

2. ACCOUNTING POLICIES - continued
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 14 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st April 2022
and 31st March 2023 66,777
AMORTISATION
At 1st April 2022
and 31st March 2023 66,777
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st April 2022 37,181 19,670 24,153 38,995 119,999
Additions - 206 - 18,505 18,711
Disposals - - - (9,000 ) (9,000 )
At 31st March 2023 37,181 19,876 24,153 48,500 129,710
DEPRECIATION
At 1st April 2022 37,181 16,816 19,601 17,255 90,853
Charge for year - 612 683 9,594 10,889
Eliminated on disposal - - - (7,131 ) (7,131 )
At 31st March 2023 37,181 17,428 20,284 19,718 94,611
NET BOOK VALUE
At 31st March 2023 - 2,448 3,869 28,782 35,099
At 31st March 2022 - 2,854 4,552 21,740 29,146

6. STOCKS
2023 2022
£    £   
Valuation 33,034 36,532

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,314 16,041
Other debtors 10,338 10,338
Prepayments and accrued income 7,488 7,199
38,140 33,578

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 56,511 92,032
Corporation tax 19,754 22,898
Social security and other taxes 5,444 5,050
VAT 41,184 27,991
Other creditors 5,704 932
Directors' current accounts 35,827 39,127
Accrued expenses 7,650 8,284
172,074 196,314

MATRIX RESOURCES LIMITED (REGISTERED NUMBER: 04938954)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,669 5,829

Deferred
tax
£   
Balance at 1st April 2022 5,829
Accelerated capital allowances 840
Balance at 31st March 2023 6,669

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
125 Ordinary £1 125 125

11. RESERVES
Retained
earnings
£   

At 1st April 2022 317,649
Profit for the year 94,940
Dividends (114,347 )
At 31st March 2023 298,242

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MATRIX RESOURCES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Matrix Resources Limited for the year ended 31st March 2023 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Matrix Resources Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Matrix Resources Limited and state those matters that we have agreed to state to the Board of Directors of Matrix Resources Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matrix Resources Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Matrix Resources Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Matrix Resources Limited. You consider that Matrix Resources Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Matrix Resources Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tayabali & White
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG


17th October 2023