Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30false22022-10-01falseadvisory services to the financial sector2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09223205 2022-10-01 2023-09-30 09223205 2021-10-01 2022-09-30 09223205 2023-09-30 09223205 2022-09-30 09223205 6 2022-10-01 2023-09-30 09223205 6 2021-10-01 2022-09-30 09223205 d:Director1 2022-10-01 2023-09-30 09223205 e:FurnitureFittings 2022-10-01 2023-09-30 09223205 e:FurnitureFittings 2023-09-30 09223205 e:FurnitureFittings 2022-09-30 09223205 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09223205 e:OfficeEquipment 2022-10-01 2023-09-30 09223205 e:OfficeEquipment 2023-09-30 09223205 e:OfficeEquipment 2022-09-30 09223205 e:OfficeEquipment e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09223205 e:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 09223205 e:Goodwill 2022-10-01 2023-09-30 09223205 e:Goodwill 2023-09-30 09223205 e:Goodwill 2022-09-30 09223205 e:CurrentFinancialInstruments 2023-09-30 09223205 e:CurrentFinancialInstruments 2022-09-30 09223205 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 09223205 e:CurrentFinancialInstruments e:WithinOneYear 2022-09-30 09223205 e:UKTax 2022-10-01 2023-09-30 09223205 e:UKTax 2021-10-01 2022-09-30 09223205 e:ShareCapital 2023-09-30 09223205 e:ShareCapital 2022-09-30 09223205 e:RetainedEarningsAccumulatedLosses 2023-09-30 09223205 e:RetainedEarningsAccumulatedLosses 2022-09-30 09223205 d:FRS102 2022-10-01 2023-09-30 09223205 d:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 09223205 d:FullAccounts 2022-10-01 2023-09-30 09223205 d:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09223205 e:OtherDeferredTax 2023-09-30 09223205 e:OtherDeferredTax 2022-09-30 09223205 2 2022-10-01 2023-09-30 09223205 e:Goodwill e:OwnedIntangibleAssets 2022-10-01 2023-09-30 09223205 f:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number:  09223205














MATRIX CORPORATE (SERVICES) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


 
MATRIX CORPORATE (SERVICES) LTD
REGISTERED NUMBER: 09223205

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
2,000
4,000

Tangible assets
 6 
2,785
7,402

  
4,785
11,402

Current assets
  

Debtors: amounts falling due within one year
 7 
60,497
28,787

Cash at bank and in hand
 8 
10,023
35,842

  
70,520
64,629

Creditors: amounts falling due within one year
 9 
(61,190)
(59,069)

Net current assets
  
 
 
9,330
 
 
5,560

Total assets less current liabilities
  
14,115
16,962

Provisions for liabilities
  

Deferred tax
 10 
-
(601)

  
 
 
-
 
 
(601)

Net assets
  
14,115
16,361


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
14,015
16,261

  
14,115
16,361


Page 1

 
MATRIX CORPORATE (SERVICES) LTD
REGISTERED NUMBER: 09223205
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C J Walsh
Director

Date: 17 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 09223205). The address of the registered office is 18 Leyland Drive, Chorley, Lancashire, PR7 3BQ.
These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company during the year was that of advisory services to the financial sector.
The presentation currency of these financial statements is £ sterling; the financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
33%
Straight Line
Office equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Employees

2023
2022
£
£

Wages and salaries
9,096
8,907

Social security costs
-
8

Cost of defined contribution scheme
369
310

9,465
9,225


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
22,325
23,121


Deferred tax


Origination and reversal of timing differences
(601)
(879)


Taxation on profit on ordinary activities
21,724
22,242

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 22.01% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
99,478
114,965


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 22.01% (2022 - 19%)
21,893
21,843

Effects of:


Fixed asset differences
440
248

Remeasurement of deferred tax
380
(211)

Expenses not deductible for tax purposes
86
362

Marginal relief
(1,075)
-

Total tax charge for the year
21,724
22,242

Page 7

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
4.Taxation (continued)


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


5.


Intangible assets




Goodwill

£



Cost


At 1 October 2022
20,000



At 30 September 2023

20,000



Amortisation


At 1 October 2022
16,000


Charge for the year on owned assets
2,000



At 30 September 2023

18,000



Net book value



At 30 September 2023
2,000



At 30 September 2022
4,000



Page 8

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
17,054
7,012
24,066


Additions
654
458
1,112



At 30 September 2023

17,708
7,470
25,178



Depreciation


At 1 October 2022
10,577
6,088
16,665


Charge for the year on owned assets
5,001
727
5,728



At 30 September 2023

15,578
6,815
22,393



Net book value



At 30 September 2023
2,130
655
2,785



At 30 September 2022
6,477
925
7,402


7.


Debtors

2023
2022
£
£


Other debtors
44,739
28,787

Prepayments and accrued income
15,758
-

60,497
28,787



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,023
35,842

10,023
35,842


Page 9

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,760
1,019

Corporation tax
42,449
36,276

Other taxation and social security
4,423
4,337

Other creditors
658
1,937

Accruals and deferred income
9,900
15,500

61,190
59,069



10.


Deferred taxation




2023


£






At beginning of year
(601)


Charged to profit or loss
601



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fixed asset timing differences
-
(601)

-
(601)


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £310 (2022 - £310). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date.

Page 10

 
MATRIX CORPORATE (SERVICES) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

12.


Related party transactions

Included in other debtors and other creditors are amounts due (to) / from the directors:


2023
2022
£
£

C J Walsh
22,369
13,211
E C Walsh
22,369
13,211
44,738
26,422

C Walsh and E Walsh are directors. The loans are repayable on demand.


13.


Controlling party

The company is under the control of its directors.

 
Page 11