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Company No: 05754646 (England and Wales)

MATRIX WIRING LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

MATRIX WIRING LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

MATRIX WIRING LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
MATRIX WIRING LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 85,653 56,624
85,653 56,624
Current assets
Stocks 83,266 80,670
Debtors 4 162,932 159,220
Cash at bank and in hand 25,817 27,022
272,015 266,912
Creditors: amounts falling due within one year 5 ( 95,700) ( 120,506)
Net current assets 176,315 146,406
Total assets less current liabilities 261,968 203,030
Creditors: amounts falling due after more than one year 6 ( 12,596) ( 20,000)
Provision for liabilities ( 18,181) ( 9,075)
Net assets 231,191 173,955
Capital and reserves
Called-up share capital 3 3
Profit and loss account 231,188 173,952
Total shareholders' funds 231,191 173,955

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Matrix Wiring Limited (registered number: 05754646) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D H A Meakin
Director

05 June 2025

MATRIX WIRING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
MATRIX WIRING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Matrix Wiring Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Rashs Green, Dereham, NR19 1JG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 % reducing balance
Plant and machinery 20 % reducing balance
Vehicles 15 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Income Statement over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 11

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 April 2024 16,343 192,915 30,332 6,141 10,490 256,221
Additions 0 28,061 15,400 0 1,383 44,844
Disposals 0 ( 26,904) 0 ( 776) ( 6,166) ( 33,846)
At 31 March 2025 16,343 194,072 45,732 5,365 5,707 267,219
Accumulated depreciation
At 01 April 2024 14,348 147,701 24,133 5,374 8,041 199,597
Charge for the financial year 399 11,446 1,507 153 728 14,233
Disposals 0 ( 25,884) 0 ( 776) ( 5,604) ( 32,264)
At 31 March 2025 14,747 133,263 25,640 4,751 3,165 181,566
Net book value
At 31 March 2025 1,596 60,809 20,092 614 2,542 85,653
At 31 March 2024 1,995 45,214 6,199 767 2,449 56,624
Leased assets included above:
Net book value
At 31 March 2025 0 12,325 0 0 0 12,325
At 31 March 2024 0 15,406 0 0 0 15,406

4. Debtors

2025 2024
£ £
Trade debtors 153,555 150,762
Prepayments 9,377 7,251
Other debtors 0 1,207
162,932 159,220

5. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans 10,000 10,000
Trade creditors 22,939 39,996
Amounts owed to directors 2,831 2,340
Accruals 1,592 4,534
Corporation tax 20,203 23,780
Other taxation and social security 27,634 24,334
Obligations under finance leases and hire purchase contracts 9,936 6,667
Other creditors 565 8,855
95,700 120,506

6. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans 1,667 11,667
Obligations under finance leases and hire purchase contracts 10,929 8,333
12,596 20,000

There are no amounts included above in respect of which any security has been given by the small entity.

7. Financial commitments

Pensions

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,052 (2024 -£5,789). Contributions totaling £565 (2024 - £10,127) were payable to the fund at the reporting date and are included in creditors.