Matrix Cleaning Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05307124 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2021

for

Matrix Cleaning Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms N Pownall

SECRETARY:

Ms N Pownall

REGISTERED OFFICE:

Unit H, Leyland Business Park

Centurion Way

Farrington

Leyland

Lancashire

PR25 3GR

REGISTERED NUMBER:

05307124 (England and Wales)

ACCOUNTANTS:

Robin Oatridge & Co Limited

Chartered Certified Accountants

Black Bull House

353-355 Station Road

Bamber Bridge

Preston

Lancashire

PR5 6EE

FIXED ASSETS

Intangible assets

4

5,612

8,388

Tangible assets

5

164,294

77,844

Investments

6

2

2

169,908

86,234

CURRENT ASSETS

Stocks

225,237

142,295

Debtors

7

271,876

289,340

Cash at bank and in hand

256,970

101,371

754,083

533,006

CREDITORS

Amounts falling due within one year

8

447,319

330,558

NET CURRENT ASSETS

306,764

202,448

TOTAL ASSETS LESS CURRENT LIABILITIES

476,672

288,682

CREDITORS

Amounts falling due after more than one year

9

(94,863

)

(191,605

)

PROVISIONS FOR LIABILITIES

(20,125

)

(6,604

)

NET ASSETS

361,684

90,473

CAPITAL AND RESERVES

Called up share capital

19,599

19,599

Retained earnings

342,085

70,874

SHAREHOLDERS' FUNDS

361,684

90,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 24th November 2021 and were signed by:

Ms N Pownall - Director

1.	STATUTORY INFORMATION

Matrix Cleaning Systems Limited 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.

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

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.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

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.

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 9 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st April 2020

55,000

36,224

91,224

Additions

-

5,587

5,587

At 31st March 2021

55,000

41,811

96,811

AMORTISATION

At 1st April 2020

55,000

27,836

82,836

Charge for year

-

8,363

8,363

At 31st March 2021

55,000

36,199

91,199

NET BOOK VALUE

At 31st March 2021

-

5,612

5,612

At 31st March 2020

-

8,388

8,388

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2020

23,629

325,073

348,702

Additions

-

115,589

115,589

At 31st March 2021

23,629

440,662

464,291

DEPRECIATION

At 1st April 2020

21,310

249,548

270,858

Charge for year

581

28,558

29,139

At 31st March 2021

21,891

278,106

299,997

NET BOOK VALUE

At 31st March 2021

1,738

162,556

164,294

At 31st March 2020

2,319

75,525

77,844

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

Plant and

machinery

etc

£

COST

At 1st April 2020

87,637

Additions

35,688

At 31st March 2021

123,325

DEPRECIATION

At 1st April 2020

30,209

Charge for year

23,279

At 31st March 2021

53,488

NET BOOK VALUE

At 31st March 2021

69,837

At 31st March 2020

57,428

6.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1st April 2020

and 31st March 2021

2

NET BOOK VALUE

At 31st March 2021

2

At 31st March 2020

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

271,876

289,340

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

217,540

222,247

Hire purchase contracts (see note 10)

21,056

17,376

Trade creditors

100,185

60,194

Taxation and social security

79,269

25,591

Other creditors

29,269

5,150

447,319

330,558

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

46,667

-

Hire purchase contracts (see note 10)

48,196

39,179

Other creditors

-

152,426

94,863

191,605

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,667

-

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts

2021

2020

£

£

Net obligations repayable:

Within one year

21,056

17,376

Between one and five years

48,196

39,179

69,252

56,555

The company has annual leasing commitments that expire within five years of £31,307 (2020 - £34,851).

11.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank overdrafts

214,207

222,247

Hire purchase contracts

69,252

56,555

283,459

278,802

The bank overdrafts are secured by fixed and floating charges over the company's assets, and a fixed charge on purchased debts.

No security has been provided in respect of the bank loan.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is the Pownall family.