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Registered number: 11314134 Matrix Pack UK Limited Financial statements Information for filing with the registrar For the year ended 31 December 2025
Matrix Pack UK Limited Registered number: 11314134 Balance sheet As at 31 December 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,175,772 |  | 1,156,665
Current assets |  |  |  |  |
Stocks | 5 | 430,790 |  | 437,527 |
Debtors: amounts falling due within one year | 6 | 418,792 |  | 609,966 |
Cash at bank and in hand |  | 79,919 |  | 69,272 |
|  | 929,501 |  | 1,116,765 |
Creditors: amounts falling due within one year | 7 | (1,756,217) |  | (1,621,844) |
Net current liabilities |  |  | (826,716) |  | (505,079)
Total assets less current liabilities |  |  | 349,056 |  | 651,586
Creditors: amounts falling due after more than one year | 8 |  | (1,504,062) |  | (1,225,078)
Net liabilities |  |  | (1,155,006) |  | (573,492)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 30 |  | 30
Profit and loss account |  |  | (1,155,036) |  | (573,522)
|  |  | (1,155,006) |  | (573,492)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D Polychronopoulos
Director
Date: 17 April 2026
The notes on pages 2 to 8 form part of these financial statements. Page 1
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025
1. | General information
Matrix Pack UK Limited is a company limited by share capital incorporated in England, registered number 11314134. The address of the registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, United Kingdom, WA14 2DT. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
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:
| 2.2 | Going concern
At 31 December 2025, the company has net current liabilities of £826,716 (2024: net current liabilities £505,079) and net liabilities of £1,155,006 (2024: net liabilities £573,492). After making enquires, and considering the parental support provided by Proteus Equity Holdings Ltd, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a minimum of 12 months from the date of approval of these financial statements. Accordingly, the Company continues to adopt the going concern basis in preparing its financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate.
| 2.4 | Revenue
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery to the customer), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the cost incurred or to be incurred in respect of the transaction can be measured reliably. Page 2
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.5 | Operating leases: the company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | Pensions
Defined contribution pension plan 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.
| 2.9 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
| 2.10 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. Page 3
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.11 | Tangible fixed assets
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 improvements | - | 10% | Straight line
|  |  |  | Plant and machinery | - | 10% | Straight line
|  |  |  | Fixtures and fittings | - | 10% | Straight line
|  |  |  | Office equipment | - | 20% | Straight line
|  |  |  | Computer equipment | - | 10% | Straight 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.
| 2.12 | Stocks
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.
| 2.13 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.14 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.15 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025 2.Accounting policies (continued)
| 2.16 | Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 39 (2024 -38).
Page 5
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025
4. | Tangible fixed assets
|  | Leasehold improvements | Plant and machinery | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost |  |  |  |  |
| At 1 January 2025 | 109,358 | 1,781,358 | 13,244 | 17,565 | 1,921,525
| Additions | - | 182,191 | 16,654 | 3,719 | 202,564
| At 31 December 2025 | 109,358 | 1,963,549 | 29,898 | 21,284 | 2,124,089
| Depreciation |  |  |  |  |
| At 1 January 2025 | 109,358 | 645,082 | 2,750 | 7,670 | 764,860
| Charge for the year | - | 179,272 | 2,292 | 1,893 | 183,457
| At 31 December 2025 | 109,358 | 824,354 | 5,042 | 9,563 | 948,317
| Net book value |  |  |  |  |
| At 31 December 2025 | - | 1,139,195 | 24,856 | 11,721 | 1,175,772
| At 31 December 2024 | - | 1,136,276 | 10,494 | 9,895 | 1,156,665
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials | 189,612 | 214,758
| Finished goods | 241,178 | 222,769
|  | 430,790 | 437,527
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 384,000 | 485,856
| Other debtors | - | 20,164
| Prepayments | 34,792 | 103,946
|  | 418,792 | 609,966
Page 6
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank overdrafts | - | 127,119
| Trade creditors | 280,343 | 481,862
| Amounts owed to group undertakings (see note 9) | 1,283,662 | 786,540
| Other taxation and social security | 142,883 | 157,488
| Other creditors | 25,298 | 26,278
| Accruals and deferred income | 24,031 | 42,557
|  | 1,756,217 | 1,621,844
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 1,504,062 | 1,225,078
| During the year, the amounts due to group undertakings were extended from 31 December 2026 to being repayable on 31 December 2030. The amounts due are unsecured and bear interest of 2% up to 31 December 2024 and subsequently increasing to 4%.
9. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £22,216 (2024: £22,045).
10. | Commitments under operating leases
| At 31 December 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 198,508 | 100,309
| Later than 1 year and not later than 5 years | 756,816 | 84,126
|  | 955,324 | 184,435
Page 7
Matrix Pack UK Limited Notes to the financial statements For the year ended 31 December 2025
11. | Controlling party
The immediate parent company is Matrix Pack S.A. Its registered office is 2 Adrianeiou Str. 11525 Athens, Greece. The ultimate parent undertaking is Proteus Equity Holdings Ltd.
12. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 17 April 2026 by Chris Stewardson (Senior statutory auditor) on behalf of Hurst Accountants Limited.
Page 8