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Registered number: 07337664
Maytrix Group Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Spicer & Co UK Limited
Chartered Accountants
Staple House
5 Eleanors Cross
Dunstable
Bedfordshire
LU6 1SU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07337664
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,573 15,237
Investments 5 33,484 87,567
42,057 102,804
CURRENT ASSETS
Debtors 6 95,971 68,941
Cash at bank and in hand 32,234 39,496
128,205 108,437
Creditors: Amounts Falling Due Within One Year 7 (259,012 ) (185,461 )
NET CURRENT ASSETS (LIABILITIES) (130,807 ) (77,024 )
TOTAL ASSETS LESS CURRENT LIABILITIES (88,750 ) 25,780
Creditors: Amounts Falling Due After More Than One Year 8 (27,501 ) (17,500 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (1,629 ) (2,895 )
NET (LIABILITIES)/ASSETS (117,880 ) 5,385
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (117,980 ) 5,285
SHAREHOLDERS' FUNDS (117,880) 5,385
Page 1
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For the year ending 31 August 2024 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Ingram-Moore
Director
27/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Maytrix Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07337664 . The registered office is The Coach House The Green, Marston Moretaine, Bedford, England, MK43 0NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the balance sheet date, liabilities exceed assets by £117,880. However, the financials statements have been prepared on going concern basis as the company has the continuing support from its directors and shareholders. The directors are therefore satisfied that the financial statements have been correctly prepared on the going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
2.5. Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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2.8. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.9. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 5)
2 5
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 September 2023 123,278
Additions 1,128
As at 31 August 2024 124,406
Depreciation
As at 1 September 2023 108,041
Provided during the period 7,792
As at 31 August 2024 115,833
Net Book Value
As at 31 August 2024 8,573
As at 1 September 2023 15,237
5. Investments
Unlisted
£
Cost
As at 1 September 2023 87,567
Disposals (54,083 )
As at 31 August 2024 33,484
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 33,484
As at 1 September 2023 87,567
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,194 27,444
Amounts owed by participating interests 67,514 36,164
Other debtors 3,263 5,333
95,971 68,941
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 37,334 10,963
Bank loans and overdrafts - 10,000
Amounts owed to participating interests 89,131 65,781
Other creditors 82,828 42,028
Taxation and social security 49,719 56,689
259,012 185,461
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,501 17,500
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 1,629 2,895
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Reserves
Profit and Loss Account
The Profit and Loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholder. This is a distributable reserve.
12. Related Party Transactions
At the balance sheet date, included in creditors were amounts due to directors of £59,323 (2023: £30,523).
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