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REGISTERED NUMBER: 10427434 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

beMatrix UK Ltd

beMatrix UK Ltd (Registered number: 10427434)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


beMatrix UK Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S R M Decroos
E Van der Vennet





SECRETARY: MYUKOFFICE LTD





REGISTERED OFFICE: Unit 2 Lobb Farm
London Road
Tetsworth
Thame
Oxfordshire
OX9 7BE





REGISTERED NUMBER: 10427434 (England and Wales)





AUDITORS: Try Lunn & Co
Chartered Accountants
and Statutory Auditors
Roland House
Princes Dock Street
HULL HU1 2LD

beMatrix UK Ltd (Registered number: 10427434)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 100 100
Tangible assets 6 421,016 396,867
421,116 396,967

CURRENT ASSETS
Debtors 7 174,082 155,779
Cash at bank and in hand 405,309 124,288
579,391 280,067
CREDITORS
Amounts falling due within one year 8 163,074 247,354
NET CURRENT ASSETS 416,317 32,713
TOTAL ASSETS LESS CURRENT
LIABILITIES

837,433

429,680

CREDITORS
Amounts falling due after more than one
year

9

(12,135

)

(43,476

)

PROVISIONS FOR LIABILITIES 12 (104,853 ) -
NET ASSETS 720,445 386,204

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 720,345 386,104
SHAREHOLDERS' FUNDS 720,445 386,204

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2024 and were signed on its behalf by:




S R M Decroos - Director E Van der Vennet - Director




A Burton - Director


beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

beMatrix UK 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 comprises of fees in respect of marketing services provided and the rental of exhibition related goods.

Marketing revenues are recognised on a monthly basis following the completion of the services provided.

Revenue for rental of exhibition related goods are recognised evenly over the the rental period.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and Machinery etc - 33% on cost, 25% on cost, and 20% on cost

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

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.

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. AUDITORS' REMUNERATION
2023 2022
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

4,760

4,455

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,185,219
Additions 171,897
Disposals (62,150 )
At 31 December 2023 1,294,966
DEPRECIATION
At 1 January 2023 788,352
Charge for year 146,748
Eliminated on disposal (61,150 )
At 31 December 2023 873,950
NET BOOK VALUE
At 31 December 2023 421,016
At 31 December 2022 396,867

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 22,195
Disposals (1,000 )
At 31 December 2023 21,195
DEPRECIATION
At 1 January 2023 1,615
Charge for year 4,512
At 31 December 2023 6,127
NET BOOK VALUE
At 31 December 2023 15,068
At 31 December 2022 20,580

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,862 71,310
Amounts owed by group undertakings 72,110 1,023
Other debtors 30,110 83,446
174,082 155,779

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 107,499
Hire purchase contracts (see note 10) 3,157 3,476
Trade creditors 23,253 72,721
Amounts owed to group undertakings 5,263 4,243
Taxation and social security 92,213 -
Other creditors 39,188 59,415
163,074 247,354

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 27,501
Hire purchase contracts (see note 10) 12,135 15,975
12,135 43,476

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,157 3,476
Between one and five years 12,135 15,975
15,292 19,451

Non-cancellable operating leases
2023 2022
£    £   
Within one year 76,050 76,050
Between one and five years 291,525 304,200
In more than five years - 63,375
367,575 443,625

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 97,500

The bank loans are secured by a fixed and floating charge over all the assets and undertaking of beMatrix UK Ltd including all present and future freehold and leasehold property, plant, machinery, vehicles, computers, office equipment, book and other debts, chattels, goodwill and uncalled capital, both present and future.

12. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 104,853 -

Deferred
tax
£   
Provided during year 104,853
Balance at 31 December 2023 104,853

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

14. RESERVES
Retained
earnings
£   

At 1 January 2023 386,104
Profit for the year 334,241
At 31 December 2023 720,345

15. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Moss FCCA (Senior Statutory Auditor)
for and on behalf of Try Lunn & Co

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
A Burton
Balance outstanding at start of year 33,022 -
Amounts advanced 11,254 33,022
Amounts repaid (44,276 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 33,022

Interest was charged on the directors loan at a market rate of interest.

beMatrix UK Ltd (Registered number: 10427434)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

17. RELATED PARTY DISCLOSURES

During the year the company recharged costs of £85,855 (2022: £74,219) on normal commercial terms to beMatrix BVBA, a sister company.

During the year the company purchased goods and services totalling £211,462 (2022: £353,774) on normal commercial terms from beMatrix BVBA.

During the year the company received commissions of £333,191 (2022: £480,091) under normal commercial terms from beMatrix BVBA.

At the balance sheet date an amount of £67,244 was owed to the company by beMatrix BVBA. (2022: £4,243 owed by the company to beMatrix BVBA).

During the year the company purchased goods and services totalling £99,269 (2022: £11,379) on normal commercial terms from beMatrix rental & service center Belgium NV.

During the year the company provided goods and services totalling £27,535 (2022: £NIL) on normal commercial terms to beMatrix rental & service center Belgium NV.

At the balance sheet date an amount of £NIL (2022: £NIL) was owed to beMatrix rental & service center Belgium NV by the company.

During the year the company provided goods and services totalling £3,232 (2022: £3,152) on normal commercial terms to beMatrix Netherlands.

Also during the year the company purchased goods and services totalling £NIL (2022: £683) on normal commercial terms from beMatrix Netherlands.

At the balance sheet date an amount of £NIL (2022: £1,023) was owed to the company by beMatrix Netherlands.

During the year the company provided goods and services totalling £5,279 (2022: £NIL) on normal commercial terms to beMatrix France SAS.

Also during the year the company purchased goods and services totalling £11,736 (2022: £NIL) on normal commercial terms from beMatrix France SAS.

At the balance sheet date an amount of £3,486 (2022: £NIL) was owed by the company to beMatrix France SAS.

During the year the company received commissions of £34,280 (2022: £NIL) under normal commercial terms from beMatrix USA.

At the balance sheet date an amount of £4,866 (2022: £NIL) was owed to the company by beMatrix USA.

During the year the company purchased goods and services totalling £700 (2022: £NIL) on normal commercial terms from beMatrix Germany.

At the balance sheet date and amount of £NIL (2022: £NIL) was owed by the company to beMatrix Germany.

During the year the company were provided with services totalling £18,404 (2022: £NIL) under normal commercial terms by Stedi BVBA.

At the balance sheet date and amount of £1,777 (2022: £NIL) was owed by the company to Stedi BVBA.

18. ULTIMATE CONTROLLING PARTY

The immediate controlling party is Stedi BVBA a company registered in Belgium.

There is no overall controlling party.