Matrix Cleaning Systems Limited - Accounts to registrar (filleted) - small 18.2
Matrix Cleaning Systems Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st March 2020 |
| for |
| Matrix Cleaning Systems Limited |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Contents of the Financial Statements |
| for the year ended 31st March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Matrix Cleaning Systems Limited |
| Company Information |
| for the year ended 31st March 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Black Bull House |
| 353-355 Station Road |
| Bamber Bridge |
| Preston |
| Lancashire |
| PR5 6EE |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Balance Sheet |
| 31st March 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Balance Sheet - continued |
| 31st March 2020 |
| 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 |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Notes to the Financial Statements |
| for the year ended 31st March 2020 |
| 1. | STATUTORY INFORMATION |
| Matrix Cleaning Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business in 2006, was amortised evenly over its estimated useful life of ten years. |
| Other intangible assets |
| Other intangible assets are amortised over their estimated useful life of five years. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Stocks |
| Stock is valued on an average cost basis. |
| 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. |
| Foreign currency translation |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| Goodwill | assets | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2019 |
| Additions |
| At 31st March 2020 |
| AMORTISATION |
| At 1st April 2019 |
| Charge for year |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st March 2019 |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st March 2020 |
| DEPRECIATION |
| At 1st April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st March 2019 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2019 |
| Additions |
| Disposals | ( |
) |
| Transfer to ownership | (18,892 | ) |
| At 31st March 2020 |
| DEPRECIATION |
| At 1st April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| Transfer to ownership | (12,416 | ) |
| At 31st March 2020 |
| NET BOOK VALUE |
| At 31st March 2020 |
| At 31st March 2019 |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2020 |
| 6. | FIXED ASSET INVESTMENTS |
| Interest |
| in other |
| participating |
| interests |
| £ |
| COST |
| At 1st April 2019 |
| and 31st March 2020 | 2 |
| NET BOOK VALUE |
| At 31st March 2020 | 2 |
| At 31st March 2019 | 2 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Hire purchase contracts (see note 10) |
| Other creditors |
| Matrix Cleaning Systems Limited (Registered number: 05307124) |
| Notes to the Financial Statements - continued |
| for the year ended 31st March 2020 |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| Hire purchase contracts |
| 2020 | 2019 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| The company has annual leasing commitments that expire within five years of £34,851 (2019 - £29,529). |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 56,555 | 33,827 |
| The bank overdrafts and loans are secured by fixed and floating charges over the company's assets, and a fixed charge on purchased debts. |
| 12. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party of the company is the Pownall family. |