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REGISTERED NUMBER: 11356144 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MATRIX PROPCO LIMITED

MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MATRIX PROPCO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: A Singh
P Hargun



REGISTERED OFFICE: 12 Beacon Road
Walsall
West Midlands
WS5 3LF



REGISTERED NUMBER: 11356144 (England and Wales)



ACCOUNTANTS: Ashcrofts Accountants Limited
2 Cedargrove
Hagley
Stourbridge
West Midlands
DY9 0DR



BANKERS: Lloyds Bank plc
293 High Street
West Bromwich
West Midlands
B70 8NA

MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,345,000 1,055,000

CURRENT ASSETS
Debtors 5 100 100
Cash at bank 23,356 50,493
23,456 50,593
CREDITORS
Amounts falling due within one year 6 (232,311 ) (206,562 )
NET CURRENT LIABILITIES (208,855 ) (155,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,136,145

899,031

CREDITORS
Amounts falling due after more than one
year

7

(1,010,959

)

(787,864

)
NET ASSETS 125,186 111,167

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 125,086 111,067
SHAREHOLDERS' FUNDS 125,186 111,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

BALANCE SHEET - continued
31 MARCH 2024


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 21 November 2024 and were signed on its behalf by:




A Singh - Director



P Hargun - Director


MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Matrix Propco Limited 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,055,000
Additions 290,000
At 31 March 2024 1,345,000
NET BOOK VALUE
At 31 March 2024 1,345,000
At 31 March 2023 1,055,000

MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 100 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 34,776 32,987
Trade creditors 4,197 2,793
Corporation tax 8,036 6,747
VAT 1,476 750
Other creditors 183,042 162,522
Accruals and deferred income 784 763
232,311 206,562

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 1,010,959 787,864

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 853,854 647,517

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 34,776 32,987

Amounts falling due between one and two years:
Bank loans - 1-2 years 36,576 34,187

Amounts falling due between two and five years:
Bank loans - 2-5 years 120,529 106,160

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 853,854 647,517

MATRIX PROPCO LIMITED (REGISTERED NUMBER: 11356144)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,045,735 820,851

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 111,067
Profit for the year 14,019
At 31 March 2024 125,086

12. RELATED PARTY DISCLOSURES

The company received rental income during the year of £77,954 (2023: £66,000) in respect of commercial properties owned by it and occupied by Matrix Primary Healthcare Limited, a company in which Mr A Singh and Mr P Hargun are directors.

The company received rental income during the year of £15,000 (2023: £15,000) in respect of a commercial property owned by it and occupied by Matrix Pharmacy Limited, a company in which Mr A Singh and Mr P Hargun are directors.

At 31 March 2024, there was a loan due to Matrix Primary Healthcare Limited of £183,042 (2023: £162,522), a company in which Mr A Singh and Mr P Hargun are directors. This unsecured loan is interest free and repayable on demand.