Matrix Electrical Engineering Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06851152 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

MATRIX ELECTRICAL ENGINEERING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P D Cook

REGISTERED OFFICE:

Five Ways

57-59 Hatfield Road

Potters Bar

Hertfordshire

EN6 1HS

REGISTERED NUMBER:

06851152 (England and Wales)

ACCOUNTANTS:

SRG Newmans Limited

Five Ways

57-59 Hatfield Road

Potters Bar

Hertfordshire

EN6 1HS

FIXED ASSETS

Tangible assets

4

96,070

78,049

CURRENT ASSETS

Debtors

5

115,292

107,905

Cash at bank and in hand

264,898

123,672

380,190

231,577

CREDITORS

Amounts falling due within one year

6

128,032

114,088

NET CURRENT ASSETS

252,158

117,489

TOTAL ASSETS LESS CURRENT LIABILITIES

348,228

195,538

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

348,226

195,536

SHAREHOLDERS' FUNDS

348,228

195,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 June 2019 and were signed by:

P D Cook - Director

1.	STATUTORY INFORMATION

Matrix Electrical Engineering 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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 year was 11 (2018 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

47,622

5,845

136,855

15,943

206,265

Additions

3,152

674

48,200

8,144

60,170

Disposals

-

-

(9,249

)

-

(9,249

)

At 31 March 2019

50,774

6,519

175,806

24,087

257,186

DEPRECIATION

At 1 April 2018

34,758

3,977

75,675

13,806

128,216

Charge for year

6,185

859

26,045

3,858

36,947

Eliminated on disposal

-

-

(4,047

)

-

(4,047

)

At 31 March 2019

40,943

4,836

97,673

17,664

161,116

NET BOOK VALUE

At 31 March 2019

9,831

1,683

78,133

6,423

96,070

At 31 March 2018

12,864

1,868

61,180

2,137

78,049

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2018

41,958

Transfer to ownership

14,595

At 31 March 2019

56,553

DEPRECIATION

At 1 April 2018

28,664

Charge for year

5,335

Transfer to ownership

6,549

At 31 March 2019

40,548

NET BOOK VALUE

At 31 March 2019

16,005

At 31 March 2018

13,294

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

104,736

101,505

Other debtors

10,556

6,400

115,292

107,905

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

2,138

Trade creditors

26,814

48,513

Taxation and social security

82,332

56,050

Other creditors

18,886

7,387

128,032

114,088

7.	SECURED DEBTS

During 2018, the finance leases were secured on the assets concerned.

8.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme,and the pension charge represents the

amounts payable by the company to the fund in respect of the year.