Acorah Software Products - Accounts Production 16.5.460 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 05656123 Mr Abdullah Mushtaq iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05656123 2023-12-31 05656123 2024-12-31 05656123 2024-01-01 2024-12-31 05656123 frs-core:CurrentFinancialInstruments 2024-12-31 05656123 frs-core:Non-currentFinancialInstruments 2024-12-31 05656123 frs-core:BetweenOneFiveYears 2024-12-31 05656123 frs-core:FurnitureFittings 2024-12-31 05656123 frs-core:FurnitureFittings 2024-01-01 2024-12-31 05656123 frs-core:FurnitureFittings 2023-12-31 05656123 frs-core:NetGoodwill 2024-12-31 05656123 frs-core:NetGoodwill 2024-01-01 2024-12-31 05656123 frs-core:NetGoodwill 2023-12-31 05656123 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-12-31 05656123 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05656123 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 05656123 frs-core:MotorVehicles 2024-12-31 05656123 frs-core:MotorVehicles 2024-01-01 2024-12-31 05656123 frs-core:MotorVehicles 2023-12-31 05656123 frs-core:WithinOneYear 2024-12-31 05656123 frs-core:ShareCapital 2024-12-31 05656123 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 05656123 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05656123 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 05656123 frs-bus:SmallEntities 2024-01-01 2024-12-31 05656123 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05656123 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05656123 frs-core:ListedExchangeTraded 2024-12-31 05656123 frs-core:ListedExchangeTraded 2023-12-31 05656123 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 05656123 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-12-31 05656123 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 05656123 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-12-31 05656123 frs-bus:Director1 2024-01-01 2024-12-31 05656123 frs-countries:EnglandWales 2024-01-01 2024-12-31 05656123 2022-12-31 05656123 2023-12-31 05656123 2023-01-01 2023-12-31 05656123 frs-core:CurrentFinancialInstruments 2023-12-31 05656123 frs-core:Non-currentFinancialInstruments 2023-12-31 05656123 frs-core:BetweenOneFiveYears 2023-12-31 05656123 frs-core:WithinOneYear 2023-12-31 05656123 frs-core:ShareCapital 2023-12-31 05656123 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 05656123
MATRIX SOLUTIONS INTERNATIONAL LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2024
A S J Financial Accounting Services Ltd
Chartered Management Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05656123
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 72,746 90,246
Tangible Assets 5 506,043 484,332
Investments 6 25,000 25,000
603,789 599,578
CURRENT ASSETS
Debtors 7 26,573 40,733
Cash at bank and in hand 240,186 78,403
266,759 119,136
Creditors: Amounts Falling Due Within One Year 8 (247,418 ) (208,607 )
NET CURRENT ASSETS (LIABILITIES) 19,341 (89,471 )
TOTAL ASSETS LESS CURRENT LIABILITIES 623,130 510,107
Creditors: Amounts Falling Due After More Than One Year 9 (658,881 ) (415,382 )
NET (LIABILITIES)/ASSETS (35,751 ) 94,725
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Profit and Loss Account (45,751 ) 84,725
SHAREHOLDERS' FUNDS (35,751) 94,725
Page 1
Page 2
For the year ending 31 December 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 Abdullah Mushtaq
Director
15/09/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MATRIX SOLUTIONS INTERNATIONAL LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05656123 . The registered office is Smithfield House, Digbeth, Birmingham, B5 6BS.
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. 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.
2.3. 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 the profit and loss account over its estimated economic life of .... years.
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:
Freehold 0%
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 10% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 12)
15 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 175,000
As at 31 December 2024 175,000
Amortisation
As at 1 January 2024 84,754
Provided during the period 17,500
As at 31 December 2024 102,254
Net Book Value
As at 31 December 2024 72,746
As at 1 January 2024 90,246
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2024 253,660 357,913 15,540 627,113
Additions - 86,347 - 86,347
As at 31 December 2024 253,660 444,260 15,540 713,460
...CONTINUED
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Page 5
Depreciation
As at 1 January 2024 - 128,849 13,932 142,781
Provided during the period - 63,082 1,554 64,636
As at 31 December 2024 - 191,931 15,486 207,417
Net Book Value
As at 31 December 2024 253,660 252,329 54 506,043
As at 1 January 2024 253,660 229,064 1,608 484,332
6. Investments
Listed
£
Cost or Valuation
As at 1 January 2024 25,000
As at 31 December 2024 25,000
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 25,000
As at 1 January 2024 25,000
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 800 -
Pension scheme 7,560 7,560
Other taxes and social security 18,213 33,173
26,573 40,733
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 53,302 49,079
Trade creditors 1 1
Corporation tax - 22,581
Net wages - 3,921
Accruals and deferred income 98,400 101,400
Director's loan account 95,715 31,625
247,418 208,607
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 200,352 187,111
Bank loans-Barclays Bounce Back Loan 17,781 28,271
Bank Loans - Funding Circle 240,748 -
Joint Investment - NovaMile properties 200,000 200,000
658,881 415,382
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 53,302 49,079
Later than one year and not later than five years 200,352 187,111
253,654 236,190
253,654 236,190
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
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