Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 04715412 Mr N L Baldwin Mrs L M Baldwin iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04715412 2023-08-31 04715412 2024-08-31 04715412 2023-09-01 2024-08-31 04715412 frs-core:CurrentFinancialInstruments 2024-08-31 04715412 frs-core:ComputerEquipment 2024-08-31 04715412 frs-core:ComputerEquipment 2023-09-01 2024-08-31 04715412 frs-core:ComputerEquipment 2023-08-31 04715412 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 04715412 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04715412 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 04715412 frs-core:ShareCapital 2024-08-31 04715412 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 04715412 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04715412 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 04715412 frs-bus:SmallEntities 2023-09-01 2024-08-31 04715412 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04715412 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04715412 frs-bus:Director1 2023-09-01 2024-08-31 04715412 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 04715412 frs-countries:EnglandWales 2023-09-01 2024-08-31 04715412 2022-08-31 04715412 2023-08-31 04715412 2022-09-01 2023-08-31 04715412 frs-core:CurrentFinancialInstruments 2023-08-31 04715412 frs-core:ShareCapital 2023-08-31 04715412 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 04715412
Matrix 24 Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—5
Page 1
Balance Sheet
Registered number: 04715412
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 5 518,820 518,820
518,820 518,820
CURRENT ASSETS
Debtors 6 - 1,207
Cash at bank and in hand 129,356 129,677
129,356 130,884
Creditors: Amounts Falling Due Within One Year 7 (11,010 ) (13,394 )
NET CURRENT ASSETS (LIABILITIES) 118,346 117,490
TOTAL ASSETS LESS CURRENT LIABILITIES 637,166 636,310
NET ASSETS 637,166 636,310
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 637,164 636,308
SHAREHOLDERS' FUNDS 637,166 636,310
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The financial statements were approved by the board of directors on 8 May 2024 and were signed on its behalf by:
Mr N L Baldwin
Director
08/05/2024
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Matrix 24 Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04715412 . The registered office is 3 Newhouse Business Centre, Old Crawley Road, Horsham, West Sussex, RH12 4RU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. 
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, except for the measurement of investment properties classified as fair value through profit or loss (FVPL). The principal accounting policies adopted are set out below. 
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided i the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at coss or valuation, net of accumulated depreciation and any accumulated impairment losses. 
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold 20% on cost
Computer Equipment 33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. 
2.4. Investment Properties
Investment property, which is property held to earn rentals and/ or for capital appreciatin, is initially recognised at cost, which includes the purchse cost and any directly attributable expenditure. Subsequently it is measured at fair vlaue at the reporting end date. Changes in fair value are recognised in the profit and loss account.
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2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments" of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.  
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measuared at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of profit and loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arised from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. 
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly in equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. 
2.7. 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.
2.8. Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term. 
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2.9. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 
2.10. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 3,364 7,216 10,580
As at 31 August 2024 3,364 7,216 10,580
Depreciation
As at 1 September 2023 3,364 7,216 10,580
As at 31 August 2024 3,364 7,216 10,580
Net Book Value
As at 31 August 2024 - - -
As at 1 September 2023 - - -
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 518,820
Investment property comprises one residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at year end by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. 
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,207
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 72
Other creditors 3,642 4,525
Taxation and social security 7,368 8,797
11,010 13,394
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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