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Registration number: SC230298

Matrix Analytics Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Matrix Analytics Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

Accountants' Report

7

 

Matrix Analytics Limited

Company Information

Directors

Mr Neil Philip Lanceley Heywood

Mrs Sheena Heywood

Mrs Vanessa Heywood

Company secretary

Lindsays WS Solicitors

Registered office

Caledonian Exchange
19A Canning Street
Edinburgh
EH3 8HE

Accountants

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Matrix Analytics Limited

(Registration number: SC230298)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

757

127

Other financial assets

5

19,967

19,967

 

20,724

20,094

Current assets

 

Debtors

6

1,200

130,959

Cash at bank and in hand

 

87,664

180,377

 

88,864

311,336

Creditors: Amounts falling due within one year

7

(50,856)

(185,995)

Net current assets

 

38,008

125,341

Net assets

 

58,732

145,435

Capital and reserves

 

Called up share capital

2

2

Retained earnings

58,730

145,433

Shareholders' funds

 

58,732

145,435

For the financial year ending 31 July 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2024 and signed on its behalf by:
 

.........................................
Mr Neil Philip Lanceley Heywood
Director

 

Matrix Analytics Limited

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

1

General information

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

2

Accounting policies

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.

The entity has transitioned from previous UK GAAP to FRS 102 as at 01 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in notes.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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

Office equipment

Straight line at 33%

Development costs

Expenditure on research and development is written off in the year in which it is incurred.

 

Matrix Analytics Limited

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

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Matrix Analytics Limited

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

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

8,577

8,577

Additions

1,136

1,136

At 31 July 2023

9,713

9,713

Depreciation

At 1 August 2022

8,450

8,450

Charge for the year

506

506

At 31 July 2023

8,956

8,956

Carrying amount

At 31 July 2023

757

757

At 31 July 2022

127

127

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2022

19,967

19,967

At 31 July 2023

19,967

19,967

Impairment

Carrying amount

At 31 July 2023

19,967

19,967

The market value of the listed investments at 31 July 2023 was £14,200 (2022 - 15,800).

 

Matrix Analytics Limited

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

6

Debtors

Current

2023
£

2022
£

Other debtors

1,200

130,959

 

1,200

130,959

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

529

Other creditors

50,856

185,466

50,856

185,995

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2023
 £

2022
 £

Mr Neil Philip Lanceley Heywood

49,383

182,250

Mrs Vanessa Heywood

-

-

 

49,383

182,250

The maximum balance outstanding during the year amounted to £182,250.

The directors current accounts are repayable on demand.

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Matrix Analytics Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Matrix Analytics Limited for the year ended 31 July 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Matrix Analytics Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Matrix Analytics Limited and state those matters that we have agreed to state to the Board of Directors of Matrix Analytics Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matrix Analytics Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Matrix Analytics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Matrix Analytics Limited. You consider that Matrix Analytics 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 accounts of Matrix Analytics 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 accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

28 February 2024