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Registration number: 07360822

Matrix Design Limited

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Matrix Design Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Matrix Design Limited

Company Information

Director

John Andrew Miles

Registered office

St Mary’s Court
The Broadway
Old Amersham
Bucks
HP7 0UT
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Matrix Design Limited

(Registration number: 07360822)
Balance Sheet as at 31 March 2023

Note

31 March
2023
£

(As restated)

31 March
2022
£

Fixed assets

 

Tangible assets

4

316,607

316,607

Current assets

 

Debtors

5

697

335

Cash at bank and in hand

 

790

909

 

1,487

1,244

Creditors: Amounts falling due within one year

6

(14,750)

(3,952)

Net current liabilities

 

(13,263)

(2,708)

Net assets

 

303,344

313,899

Capital and reserves

 

Called up share capital

7

10,000

10,000

Retained earnings

293,344

303,899

Shareholders' funds

 

303,344

313,899

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Matrix Design Limited

(Registration number: 07360822)
Balance Sheet as at 31 March 2023

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 October 2023
 

.........................................
John Andrew Miles
Director

 

Matrix Design Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
St Mary’s Court
The Broadway
Old Amersham
Bucks
HP7 0UT
England

These financial statements were authorised for issue by the director on 24 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Free hold Property

0%

 

Matrix Design Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Matrix Design Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 April 2022

316,607

316,607

At 31 March 2023

316,607

316,607

Depreciation

Carrying amount

At 31 March 2023

316,607

316,607

At 31 March 2022

316,607

316,607

Included within the net book value of land and buildings above is £316,607 (2022 - £316,607) in respect of freehold land and buildings.
 

5

Debtors

Current

31 March
2023
£

(As restated)

31 March
2022
£

Prepayments

697

-

Other debtors

-

335

 

697

335

 

Matrix Design Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

31 March
2023
£

31 March
2022
£

Due within one year

Trade creditors

301

1

Taxation and social security

395

969

Accruals and deferred income

1,080

2,982

Other creditors

12,974

-

14,750

3,952

7

Share capital

Allotted, called up and fully paid shares

 

31 March
2023

31 March
2022

 

No.

£

No.

£

Ordinary Share Class John Andrew Miles of £1 each

5,200

5,200

5,200

5,200

Ordinary Share Class Francesca Miles of £1 each

1,600

1,600

1,600

1,600

Ordinary share Class Lauren Miles of £1 each

1,600

1,600

1,600

1,600

Ordinary Share Class Alexandra Miles of £1 each

1,600

1,600

1,600

1,600

 

10,000

10,000

10,000

10,000

8

Dividends

Interim dividends paid

 

Matrix Design Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

   

31 March
2023
£

 

31 March
2022
£

Interim dividend of £0.3846 (2022 - £Nil) per each Ordinary Share

 

2,000

 

-