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MATRIX BIO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 20 OCTOBER 2025
Matrix Bio Limited is a private company limited by share capital, registered in Scotland.
The company's registration number is SC769635.
The company's registered office and trading address is 272 Bath Street, Glasgow, Scotland, United Kingdom, G2 4JR.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
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Non-going concern basis of accounting
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The director has concluded that the going concern basis is not appropriate because the Company ceased to trade during the reporting period and all operations have been discontinued. Consequently the financial statements have been prepared on a non-going concern basis. This has had no impact on the reported results or net assets of the Company. The financial statements do not include any provision for the potential future costs for winding up the Company as no such costs were committed as at the year-end date.
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.
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