Matrix-IFS UK Ltd Filleted Accounts Cover
Matrix-IFS UK Ltd
Company No. 08232268
Information for Filing with The Registrar
31 December 2023
Matrix-IFS UK Ltd Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was provision of consulting and compliance technology services.
Directors
The Directors who served at any time during the year were as follows:
N. Brenner
M. Gutman
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Reappointment of auditors
The auditors Gordon Levy Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Signed on behalf of the board
N. Brenner
Director
16 October 2024
Matrix-IFS UK Ltd Balance Sheet Registrar
at
31 December 2023
Company No.
08232268
Notes
2023
2022
£
£
Current assets
Debtors
4
1,890,223984,275
Cash at bank and in hand
1,770,7492,518,275
3,660,9723,502,550
Creditors: Amount falling due within one year
5
(324,461)
(269,508)
Net current assets
3,336,5113,233,042
Total assets less current liabilities
3,336,5113,233,042
Net assets
3,336,5113,233,042
Capital and reserves
Called up share capital
100100
Profit and loss account
6
3,336,4113,232,942
Total equity
3,336,5113,233,042
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 16 October 2024 and signed on its behalf by:
N. Brenner
Director
16 October 2024
Matrix-IFS UK Ltd Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Matrix-IFS UK Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08232268
Its registered office is:
Matrix-IFS UK Ltd
3 St. Magnus House
Office 422, Lower Thames St
London
EC3R 6HD
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
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.
Taxation
The deferred taxation asset is provided for loss relief as yet unused and is adjusted annually to recognise the movement in taxation.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Defined contribution pensions
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 payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Going concern
The accounts are prepared on a going concern basis. The company’s ability to meet its future working capital requirements and therefore continue as a going concern is dependent on it being able to generate future revenues and free cash flow. The directors consider the going concern basis to be prudent given the company's positive net asset position, and range of proposed expenditure, the business is well placed to operate within its existing cash resources.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors including the expectations of future events that are believed to be reasonable under the circumstances.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
710
4
Debtors
2023
2022
£
£
Amounts owed by group undertakings
1,850,774929,250
VAT recoverable
12,54211,371
Other debtors
8,43129,245
Prepayments and accrued income
18,47614,409
1,890,223984,275
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Trade creditors
53,47543,556
Amounts owed to group undertakings
165,128
111,747
Other creditors
11,07116,563
Accruals and deferred income
94,78797,642
324,461269,508
6
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
7
Related party disclosures
Transactions with related parties
The company has taken advantage of the exemption available according to FRS 102 1A "Related party disclosure" not to disclose transactions entered into between two or more members of a group that are wholly owned.
Parent Company
The name of the parent of the smallest group for which consolidated financial statements are drawn up of which this entity is a member:
Matrix Ltd
The parent's registered office address is:
Abba Eban Blvd 3
Hertzliya
Israel
8
Audit of the accounts
Unqualified
The auditors were:
Gordon Levy Limited
The senior statutory auditor was:
Gordon Levy BA, FCA
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