REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2023 |
for |
beMatrix UK Ltd |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
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 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
Additions |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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 |
Hire purchase contracts (see note 10) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
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 |
Balance at 31 December 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
14. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Profit for the year |
At 31 December 2023 |
15. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |