REGISTERED NUMBER: |
Financial Statements |
for the Period |
2 August 2022 to 31 December 2023 |
for |
Matrixport Advisors Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Period |
2 August 2022 to 31 December 2023 |
for |
Matrixport Advisors Limited |
Matrixport Advisors Limited (Registered number: 14270509) |
Contents of the Financial Statements |
for the Period 2 August 2022 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Matrixport Advisors Limited |
Company Information |
for the Period 2 August 2022 to 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
3 Kingfisher Court |
Bowesfield Park |
Stockton on Tees |
TS18 3EX |
Matrixport Advisors Limited (Registered number: 14270509) |
Balance Sheet |
31 December 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Accumulated losses | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
Matrixport Advisors Limited (Registered number: 14270509) |
Notes to the Financial Statements |
for the Period 2 August 2022 to 31 December 2023 |
1. | STATUTORY INFORMATION |
Matrixport Advisors Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. Given the known challenges faced by startup businesses raising external assets leading towards a self-sustaining business, the directors have allocated sufficient resources to finance the company. Based on the assessment of the directors, there is reasonable expectation that the company has access to adequate financial resources to continue in operational existence for the foreseeable future. Therefore, the directors continue to apply the going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Computer equipment | - |
Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Matrixport Advisors Limited (Registered number: 14270509) |
Notes to the Financial Statements - continued |
for the Period 2 August 2022 to 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors receivable/ payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Taxation |
Other creditors |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 100 |
100 Ordinary shares of £1 each were allotted and fully paid for |
Matrixport Advisors Limited (Registered number: 14270509) |
Notes to the Financial Statements - continued |
for the Period 2 August 2022 to 31 December 2023 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
During the period the company received an interest free one year loan from its immediate parent company totalling £600,000. In addition during the period payments were made on behalf of the company and receipts were received by the immediate parent company on behalf of the company. The balance at the end of the period was £751,118. No interest has been charged on the balance and amounts are recoverable on demand. |
10. | PARENT UNDERTAKING |
The immediate holding company is Matrix Finance and Technologies Holding Company, a company registered in the Cayman Islands. The parent's registered office address is 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. |