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REGISTERED NUMBER: 13032712 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MATRIX ASSET HOLDINGS LIMITED

MATRIX ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

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 ASSET HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Hargun
A Singh





SECRETARIES: Mrs N Hargun
Mrs B Sawhney





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





REGISTERED NUMBER: 13032712 (England and Wales)





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

MATRIX ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 3,007,911 3,007,911

CURRENT ASSETS
Debtors 5 1 1
Cash at bank 8,459 16,582
8,460 16,583
CREDITORS
Amounts falling due within one year 6 (270,045 ) (191,068 )
NET CURRENT LIABILITIES (261,585 ) (174,485 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,746,326

2,833,426

CREDITORS
Amounts falling due after more than one
year

7

(729,663

)

(816,763

)
NET ASSETS 2,016,663 2,016,663

CAPITAL AND RESERVES
Called up share capital 10 100 100
Share premium 11 1,927,176 1,927,176
Retained earnings 11 89,387 89,387
SHAREHOLDERS' FUNDS 2,016,663 2,016,663

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 ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

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 ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

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


1. STATUTORY INFORMATION

Matrix Asset Holdings 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 3,007,911
NET BOOK VALUE
At 31 March 2024 3,007,911
At 31 March 2023 3,007,911

MATRIX ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

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


4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Matrix Pharmacy Limited
Registered office: 12 Beacon Road, Walsall, West Midlands, WS5 3LF
Nature of business: Retail pharmacies
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 2,500,606 2,502,579
Profit for the year 132,027 69,730

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 88,853 89,399
Amounts owed to group undertakings 180,429 100,936
Accruals and deferred income 763 733
270,045 191,068

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 729,663 816,763

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 368,248 450,763

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 88,853 89,399

MATRIX ASSET HOLDINGS LIMITED (REGISTERED NUMBER: 13032712)

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


8. LOANS - continued
2024 2023
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 89,454 90,600

Amounts falling due between two and five years:
Bank loans - 2-5 years 271,961 275,400

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 368,248 450,763

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 818,516 906,162

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 89,387 1,927,176 2,016,563
Profit for the year 134,000 134,000
Dividends (134,000 ) (134,000 )
At 31 March 2024 89,387 1,927,176 2,016,563

12. RELATED PARTY DISCLOSURES

At 31 March 2024, there was a loan from Matrix Pharmacy Limited of £180,429 (2023: £100,936), a company in which Mr P Hargun and Mr A Singh are directors. Matrix Pharmacy Limited is a wholly owned subsidiary undertaking of Matrix Asset Holdings Limited. This unsecured loan is interest free and repayable on demand.