REGISTERED NUMBER: 05495766 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MATRIX GLOBAL NETWORKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Bishop

A S Trott

N Grant

D W Lewis

REGISTERED OFFICE:

20 Clarke Road

Bletchley

Milton Keynes

Buckinghamshire

MK1 1LG

REGISTERED NUMBER:

05495766 (England and Wales)

ACCOUNTANTS:

TC Group

Baird House

Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

FIXED ASSETS

Tangible assets

4

214,963

304,934

Investments

5

1

1

214,964

304,935

CURRENT ASSETS

Stocks

1,175,093

954,879

Debtors

6

1,886,062

1,784,647

Cash at bank

46,900

39,537

3,108,055

2,779,063

CREDITORS

Amounts falling due within one year

7

2,314,219

2,094,925

NET CURRENT ASSETS

793,836

684,138

TOTAL ASSETS LESS CURRENT LIABILITIES

1,008,800

989,073

CREDITORS

Amounts falling due after more than one year

8

(101,774

)

(197,580

)

PROVISIONS FOR LIABILITIES

(53,741

)

(75,859

)

NET ASSETS

853,285

715,634

CAPITAL AND RESERVES

Called up share capital

10

100,002

100,002

Retained earnings

753,283

615,632

SHAREHOLDERS' FUNDS

853,285

715,634

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

A J Bishop - Director

1.	STATUTORY INFORMATION

Matrix Global Networks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

5,000

287,322

173,318

50,485

516,125

Additions

-

4,744

-

18,531

23,275

At 31 December 2024

5,000

292,066

173,318

69,016

539,400

DEPRECIATION

At 1 January 2024

3,500

98,365

82,591

26,735

211,191

Charge for year

500

47,597

48,538

16,611

113,246

At 31 December 2024

4,000

145,962

131,129

43,346

324,437

NET BOOK VALUE

At 31 December 2024

1,000

146,104

42,189

25,670

214,963

At 31 December 2023

1,500

188,957

90,727

23,750

304,934

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

1,210,534

1,430,617

Other debtors

19,508

23,582

Prepayments

137,382

142,578

1,367,424

1,596,777

Amounts falling due after more than one year:

Amounts owed by group undertakings

518,638

187,870

Aggregate amounts

1,886,062

1,784,647

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

50,001

50,001

Hire purchase contracts

45,806

42,146

Trade creditors

1,221,467

1,069,737

Corporation tax

1,731

8,369

Social security and other taxes

42,290

35,964

VAT

121,963

102,626

Other creditors

694,787

725,334

Accrued expenses

136,174

60,748

2,314,219

2,094,925

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

20,833

50,000

Bank loans - 2-5 years

-

20,833

Hire purchase contracts

80,941

126,747

101,774

197,580

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

70,833

120,833

Hire purchase contracts

126,747

168,893

197,580

289,726

Bank loans and hire purchase contracts are secured against assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100,002

Ordinary

£1

100,002

100,002

11.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Global Networks Group Limited.