Matrix Business IT Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

Matrix Business IT Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10099930 . The registered office is Main Barn, Cams Hall Estate, Fareham, Hampshire, PO16 8UT.

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. Significant judgements and estimations

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

In preparing these financial statements the directors have made the following judgements:

- Determined that the accounting policy in place in respect of turnover recognition and measurement is reasonable.

- Determined that the measurement and recognition policies in place in respect of stock is reasonable and appropriate.

- Determined whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the financial viability and expected future financial performance of the asset.

- Assessed the warranty provision included in the financial statements to ensure it accurately reflects the contractual position.

2.4. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

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Matrix Business IT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold	10 years stright-line
Plant & Machinery	25% reducing balance
Motor Vehicles	20% reducing balance
Fixtures & Fittings	25% stright-line and 25% reducing balance
Computer Equipment	25% stright-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6. Leasing and Hire Purchase Contracts

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

2.7. Stocks and Work in Progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured 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.

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Matrix Business IT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.9. Foreign Currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. The functional and presentational currencies of the company are GBP.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary 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.

2.10. 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.

2.11. Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.12. Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 51 (2024: 48)

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Matrix Business IT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

4. Tangible Assets

	Land & Buildings	Plant & Machinery etc.	Total
	£	£	£
Cost
As at 1 May 2024	42,945	151,830	194,775
Additions	-	4,790	4,790

As at 30 April 2025	42,945	156,620	199,565

Depreciation
As at 1 May 2024	716	80,962	81,678
Provided during the period	4,294	27,055	31,349

As at 30 April 2025	5,010	108,017	113,027

Net Book Value
As at 30 April 2025	37,935	48,603	86,538

As at 1 May 2024	42,229	70,868	113,097

5. Stocks

	2025	2024
	£	£
Stock	7,703	9,873

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	342,183	386,829
Amounts owed by group undertakings	209,870	209,370
Other debtors	51,234	71,039

	603,287	667,238

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	383,652	435,288
Bank loans and overdrafts	38,639	36,973
Amounts owed to group undertakings	10,050	6,801
Other creditors	285,820	109,661
Taxation and social security	287,139	173,181

	1,005,300	761,904

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	34,989	73,629

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Matrix Business IT Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

10. Other Commitments

At 30 April the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

	2025	2024
	£	£
Not later than one year	96,031	169,291
Later than one year and not later than five years	245,667	545,331
Later than five years	541,667	591,667

	883,365	1,306,289

11. Related Party Transactions

The company has taken advantage of the exemption in FRS 102 Section 33.1A to not disclose transactions with wholly owned group entities.

At the balance sheet date the company was owed a total of £209,870 (2024: £209,370) in respect of loans and cash advances by Matrix Property Group Ltd, a company associated by common control.

12. Ultimate Controlling Party

The immediate and ultimate parent undertaking is Matrix Business Group Limited, a company registered in England and Wales.

The ultimate controlling party is J N Cronin, by virtue of his shareholding in the immediate parent undertaking.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		86,538		113,097

			86,538		113,097
CURRENT ASSETS
Stocks	5	7,703		9,873
Debtors	6	603,287		667,238
Cash at bank and in hand		557,568		292,476

		1,168,558		969,587
Creditors: Amounts Falling Due Within One Year	7	(1,005,300 )		(761,904 )

NET CURRENT ASSETS (LIABILITIES)			163,258		207,683

TOTAL ASSETS LESS CURRENT LIABILITIES			249,796		320,780

Creditors: Amounts Falling Due After More Than One Year	8		(34,989 )		(73,629 )

PROVISIONS FOR LIABILITIES
Provisions For Charges			(9,011 )		(9,712 )
Deferred Taxation			(1,244 )		(1,244 )

NET ASSETS			204,552		236,195

CAPITAL AND RESERVES
Called up share capital	9		100		100
Income Statement			204,452		236,095

SHAREHOLDERS' FUNDS			204,552		236,195