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REGISTERED NUMBER: 11153823 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MATRIX DEVELOPMENT LTD

MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATRIX DEVELOPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Florian Azemi
Eva Mouzo





REGISTERED OFFICE: 9 Lauderdale Road
London
W9 1LU





REGISTERED NUMBER: 11153823 (England and Wales)





ACCOUNTANTS: Stan Lee Accountancy Ltd (T/A: The Stan Lee)
Chartered Certified Accountants
40 Bank Street, 18th Floor
Canary Wharf
London
E14 5NR

MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 700,000

CURRENT ASSETS
Debtors 5 - 6,238
Cash at bank 17,644 555
17,644 6,793
CREDITORS
Amounts falling due within one year 6 4,159 326,190
NET CURRENT ASSETS/(LIABILITIES) 13,485 (319,397 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,485

380,603

CREDITORS
Amounts falling due after more than
one year

7

-

(309,167

)

PROVISIONS FOR LIABILITIES - (21,638 )
NET ASSETS 13,485 49,798

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 - 113,883
Retained earnings 10 13,385 (64,185 )
SHAREHOLDERS' FUNDS 13,485 49,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





Eva Mouzo - Director


MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Matrix Development 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 represents gross rental income. The total turnover of the company for the year has been derived from the provision of property rental falling within the company's principal activities.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 February 2023 700,000
Disposals (700,000 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 700,000

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors - 1,910
Mortgage fee - 571
- 2,481

Amounts falling due after more than one year:
Mortgage fee - 3,757

Aggregate amounts - 6,238

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) - 2,000
Tax 3,139 -
Other creditors - 17,168
Directors' current accounts - 306,002
Accrued expenses 1,020 1,020
4,159 326,190

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) - 309,167

MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage loan - 304,500

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - BBL - 2,000

Amounts falling due between two and five years:
Bounce Back Loan - 4,667

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgage loan - 304,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 (64,185 ) 113,883 49,698
Profit for the year 77,570 77,570
Fair value reserves - (113,883 ) (113,883 )
At 31 January 2024 13,385 - 13,385

MATRIX DEVELOPMENT LTD (REGISTERED NUMBER: 11153823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the current and previous years, the Company was under the control of its directors, by the virtue of their ownership of the entire issued share capital of the Company.

At the balance sheet date, the Company owed its directors £nil (2023 : £306,002). The loan carries no interest and is repayable in full at short notice on demand.