REGISTERED NUMBER: 06790940 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST APRIL 2023 TO 31ST AUGUST 2024

FOR

MATRIX ENERGY SYSTEMS LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

P A Leedham

T L Leedham

C J Burton

Registered office:

Unit 5

Bradmarsh Court

Bradmarsh Way

Rotherham

South Yorkshire

S60 1BW

Registered number:

06790940 (England and Wales)

Accountant:

Thackeray Associates Accountants

102 High Street

New Whittington

Chesterfield

Derbyshire

S43 2AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

40,436

41,922

40,436

41,922

CURRENT ASSETS

Stocks

63,000

-

Debtors

6

101,418

290,989

Cash at bank and in hand

86,045

75,887

250,463

366,876

CREDITORS

Amounts falling due within one year

7

75,085

127,453

NET CURRENT ASSETS

175,378

239,423

TOTAL ASSETS LESS CURRENT LIABILITIES

215,814

281,345

CREDITORS

Amounts falling due after more than one year

8

(48,742

)

(55,406

)

PROVISIONS FOR LIABILITIES

(7,965

)

(7,965

)

NET ASSETS

159,107

217,974

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

159,106

217,973

SHAREHOLDER FUNDS

159,107

217,974

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st August 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 9th October 2025 and were signed on its behalf by:

P A Leedham - Director

1.	STATUTORY INFORMATION

Matrix Energy Systems Ltd 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

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

Tools and equipment

-

20% on cost

Motor vehicles

-

25% on reducing balance

IT equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 period was 12 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1st April 2023

and 31st August 2024

2,830

AMORTISATION

At 1st April 2023

and 31st August 2024

2,830

NET BOOK VALUE

At 31st August 2024

-

At 31st March 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Tools and

and

Motor

IT

equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2023

12,310

2,023

64,600

20,601

99,534

Additions

-

1,462

13,925

1,556

16,943

At 31st August 2024

12,310

3,485

78,525

22,157

116,477

DEPRECIATION

At 1st April 2023

8,728

1,300

29,869

17,715

57,612

Charge for period

1,205

297

13,684

3,243

18,429

At 31st August 2024

9,933

1,597

43,553

20,958

76,041

NET BOOK VALUE

At 31st August 2024

2,377

1,888

34,972

1,199

40,436

At 31st March 2023

3,582

723

34,731

2,886

41,922

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

85,720

261,594

Other debtors

15,698

29,395

101,418

290,989

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

21,186

74,171

Amounts owed to group undertakings

26,160

-

Taxation and social security

6,100

36,960

Other creditors

21,639

16,322

75,085

127,453

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

48,742

55,406

9.	RELATED PARTY DISCLOSURES

Matrix Energy Systems Ltd is a wholly owned subsidiary of Matrix Energy Holdings Ltd, the parent company.

No group dividends were declared in the period ending 31st August 2024 or 31st March 2023 on the ordinary shares in order to allow for an increase in employees.

The balance is included in creditors due over one year as the directors wish to maintain working capital within the subsidiary for the foreseeable future growth in the business.