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Registration number: 12903653

Matrix Eot Limited

(A company limited by guarantee)

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2023

 

Matrix Eot Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 6

 

Matrix Eot Limited

Company Information

Directors

KS Breeze

S Knight

J J Loftus

G S Mackay

Registered office

C/o The McCay Partnership
24 Capital Business Centre
22 Carlton Road
South Croydon
Surrey
CR2 0BS

Accountants

The McCay Partnership
Chartered Accountants
Unit 24
Capital Business Centre
22 Carlton Road
South Croydon
Surrey
CR2 0BS

 

Matrix Eot Limited

(Registration number: 12903653)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

4,400,000

4,400,000

Current assets

 

Cash at bank and in hand

 

5,760

11,255

Creditors: Amounts falling due within one year

(1,369,782)

(394,538)

Net current liabilities

 

(1,364,022)

(383,283)

Total assets less current liabilities

 

3,035,978

4,016,717

Creditors: Amounts falling due after more than one year

(3,650,000)

(4,400,000)

Accruals and deferred income

 

(1,500)

(1,800)

Net liabilities

 

(615,522)

(385,083)

Reserves

 

Retained earnings

(615,522)

(385,083)

Deficit

 

(615,522)

(385,083)

For the financial year ending 30 September 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 11 April 2024 and signed on its behalf by:
 

.........................................
KS Breeze
Director

 

Matrix Eot Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
C/o The McCay Partnership
24 Capital Business Centre
22 Carlton Road
South Croydon
Surrey
CR2 0BS
England

The principal place of business is:
Bay Cottage Bertie Lane
Uffington
Stamford
Lincolnshire
PE9 4SZ
United Kingdom

These financial statements were authorised for issue by the Board on 11 April 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Matrix Eot Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 1).

 

Matrix Eot Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

4

Investments

Total
£

Cost or valuation

At 1 October 2022

4,400,000

Provision

Carrying amount

At 30 September 2023

4,400,000

At 30 September 2022

4,400,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Matrix Booking Limited

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Matrix Booking Limited

The principal activity of Matrix Booking Limited is Software development.

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Matrix Eot Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

6

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

15,500

12,000

Summary of transactions with subsidiaries

At the balance sheet date the company owed subsidiary companies £1,319,325 (2022 - £344.101).