0 false false false false false false false false false false true false false false false false true No description of principal activity 2023-03-31 Sage Accounts Production Advanced 2023 - FRS102_2023 700,000 140,000 70,000 210,000 490,000 560,000 xbrli:pure xbrli:shares iso4217:GBP 13304151 2023-03-31 2024-03-31 13304151 2024-03-31 13304151 2023-03-30 13304151 2022-04-01 2023-03-30 13304151 2023-03-30 13304151 2022-03-31 13304151 bus:Director1 2023-03-31 2024-03-31 13304151 core:PlantMachinery 2023-03-30 13304151 core:PlantMachinery 2024-03-31 13304151 core:WithinOneYear 2024-03-31 13304151 core:WithinOneYear 2023-03-30 13304151 core:ShareCapital 2024-03-31 13304151 core:ShareCapital 2023-03-30 13304151 core:RetainedEarningsAccumulatedLosses 2024-03-31 13304151 core:RetainedEarningsAccumulatedLosses 2023-03-30 13304151 core:PlantMachinery 2023-03-31 2024-03-31 13304151 core:PlantMachinery 2023-03-30 13304151 bus:SmallEntities 2023-03-31 2024-03-31 13304151 bus:AuditExemptWithAccountantsReport 2023-03-31 2024-03-31 13304151 bus:SmallCompaniesRegimeForAccounts 2023-03-31 2024-03-31 13304151 bus:PrivateLimitedCompanyLtd 2023-03-31 2024-03-31 13304151 bus:FullAccounts 2023-03-31 2024-03-31
COMPANY REGISTRATION NUMBER: 13304151
MATALEX LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDING
31 March 2024
MATALEX LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
4
490,000
560,000
CURRENT ASSETS
Cash at bank and in hand
171
1,381
CREDITORS: amounts falling due within one year
5
( 777,733)
( 737,032)
---------
---------
NET CURRENT LIABILITIES
( 777,562)
( 735,651)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 287,562)
( 175,651)
---------
---------
NET LIABILITIES
( 287,562)
( 175,651)
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 287,662)
( 175,751)
---------
---------
SHAREHOLDERS DEFICIT
( 287,562)
( 175,651)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
S Wayne
Director
Company registration number: 13304151
MATALEX LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 - 22 Bridge End, Leeds, LS1 4DJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have also been prepared on the going concern basis. The directors consider the going concern basis to be appropriate as they have confirmed their ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax.
Income tax
Deferred Taxation is provided using the liability method on all timing differences that have originated but not reversed at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently state at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Other assets
-
10 years
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Other assets
£
Cost
At 31 March 2023 and 31 March 2024
700,000
---------
Depreciation
At 31 March 2023
140,000
Charge for the year
70,000
---------
At 31 March 2024
210,000
---------
Carrying amount
At 31 March 2024
490,000
---------
At 30 March 2023
560,000
---------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Other creditors
777,733
737,032
---------
---------