Acorah Software Products - Accounts Production 16.3.350 false true true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 02638035 Mr Nigel Batt Christopher Richards Mr N Batt false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02638035 2023-09-30 02638035 2024-09-30 02638035 2023-10-01 2024-09-30 02638035 frs-core:CurrentFinancialInstruments 2024-09-30 02638035 frs-core:ComputerEquipment 2024-09-30 02638035 frs-core:ComputerEquipment 2023-10-01 2024-09-30 02638035 frs-core:ComputerEquipment 2023-09-30 02638035 frs-core:FurnitureFittings 2024-09-30 02638035 frs-core:FurnitureFittings 2023-10-01 2024-09-30 02638035 frs-core:FurnitureFittings 2023-09-30 02638035 frs-core:NetGoodwill 2024-09-30 02638035 frs-core:NetGoodwill 2023-10-01 2024-09-30 02638035 frs-core:NetGoodwill 2023-09-30 02638035 frs-core:MotorVehicles 2024-09-30 02638035 frs-core:MotorVehicles 2023-10-01 2024-09-30 02638035 frs-core:MotorVehicles 2023-09-30 02638035 frs-core:PlantMachinery 2024-09-30 02638035 frs-core:PlantMachinery 2023-10-01 2024-09-30 02638035 frs-core:PlantMachinery 2023-09-30 02638035 frs-core:CapitalRedemptionReserve 2024-09-30 02638035 frs-core:SharePremium 2024-09-30 02638035 frs-core:ShareCapital 2024-09-30 02638035 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 02638035 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02638035 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 02638035 frs-bus:SmallEntities 2023-10-01 2024-09-30 02638035 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02638035 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02638035 1 2023-10-01 2024-09-30 02638035 frs-bus:Director1 2023-10-01 2024-09-30 02638035 frs-bus:CompanySecretary1 2023-10-01 2024-09-30 02638035 frs-core:CurrentFinancialInstruments 9 2024-09-30 02638035 frs-countries:EnglandWales 2023-10-01 2024-09-30 02638035 2022-09-30 02638035 2023-09-30 02638035 2022-10-01 2023-09-30 02638035 frs-core:CurrentFinancialInstruments 2023-09-30 02638035 frs-core:CapitalRedemptionReserve 2023-09-30 02638035 frs-core:SharePremium 2023-09-30 02638035 frs-core:ShareCapital 2023-09-30 02638035 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 02638035 frs-core:CurrentFinancialInstruments 9 2023-09-30
Matrix Plastics Limited
Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02638035
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 442,668 443,431
442,668 443,431
CURRENT ASSETS
Stocks 6 477,230 595,658
Debtors 7 1,266,613 1,215,892
Cash at bank and in hand 3,061,160 4,011,593
4,805,003 5,823,143
Creditors: Amounts Falling Due Within One Year 8 (1,416,653 ) (2,032,695 )
NET CURRENT ASSETS (LIABILITIES) 3,388,350 3,790,448
TOTAL ASSETS LESS CURRENT LIABILITIES 3,831,018 4,233,879
NET ASSETS 3,831,018 4,233,879
CAPITAL AND RESERVES
Called up share capital 10 3,625 3,625
Share premium account 56,500 56,500
Capital redemption reserve 35,025 35,025
Profit and Loss Account 3,735,868 4,138,729
SHAREHOLDERS' FUNDS 3,831,018 4,233,879
Page 1
Page 2
For the year ending 30 September 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.
On behalf of the board
Mr Nigel Batt
Director
31st January 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
Matrix Plastics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02638035 . The registered office is 141 Edinburgh Avenue, Slough Trading Estate, Slough, Berkshire, SL1 4SS.
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
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. 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 Straight line over 3 to 10 years
Motor Vehicles Straight line over 3 years
Fixtures & Fittings Straight line over 3 years
Computer Equipment Straight line over 3 years
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Foreign currency transactions are translated into the functional currency using the spot exchange
rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary
items measured at historical cost are translated using the exchange rate at the date of the
transaction and non-monetary items measured at fair value are measured using the exchange rate
when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the
translation at period-end exchange rates of monetary assets and liabilities denominated in foreign
currencies are recognised in profit or loss except when deferred in other comprehensive income as
qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are
presented in the Statement of income and retained earnings within 'finance income or costs'. All other
foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Page 3
Page 4
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income 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 is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2023: 42)
42 42
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 230,750
As at 30 September 2024 230,750
Amortisation
As at 1 October 2023 230,750
As at 30 September 2024 230,750
Net Book Value
As at 30 September 2024 -
As at 1 October 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 1,582,835 448,462 37,917 23,398 2,092,612
Additions 140,823 43,070 - - 183,893
Disposals (27,425 ) (130,881 ) - - (158,306 )
As at 30 September 2024 1,696,233 360,651 37,917 23,398 2,118,199
...CONTINUED
Page 4
Page 5
Depreciation
As at 1 October 2023 1,412,296 175,591 37,917 23,377 1,649,181
Provided during the period 56,433 84,593 - 21 141,047
Disposals (27,425 ) (87,272 ) - - (114,697 )
As at 30 September 2024 1,441,304 172,912 37,917 23,398 1,675,531
Net Book Value
As at 30 September 2024 254,929 187,739 - - 442,668
As at 1 October 2023 170,539 272,871 - 21 443,431
6. Stocks
2024 2023
£ £
Finished goods 477,230 595,658
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,109,622 983,155
Prepayments and accrued income 156,991 232,737
1,266,613 1,215,892
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 412,493 733,836
Corporation tax 322,530 284,862
VAT 100,064 33,550
Net wages 22,144 315,662
Other creditors (9) 53,471 53,471
Accruals and deferred income 505,951 611,314
1,416,653 2,032,695
9. Deferred Taxation
The provision for deferred tax is made up as follows:
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3,625 3,625
11. Controlling Party
The company's controlling party is Mr N Batt by virtue of his ownership of 58% of the issued share capital in the company.
Page 5