Matrix Analytics Limited - Period Ending 2021-07-31

Matrix Analytics Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6
Accountants' Report	7

Matrix Analytics Limited

Company Information

Directors

Mr Neil Philip Lanceley Heywood Mrs Sheena Heywood Mrs Vanessa Heywood

Company secretary

Lindsays WS Solicitors

Registered office

Caledonian Exchange 19A Canning Street Edinburgh Scotland EH3 8HE

Accountants

Yates & Co CA Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

Matrix Analytics Limited

(Registration number: SC230298)
Balance Sheet as at 31 July 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	5	251	-
Other financial assets	6	19,967	21,617
		20,218	21,617
Current assets
Debtors	7	5,978	6,812
Cash at bank and in hand		222,492	299,157
		228,470	305,969
Creditors: Amounts falling due within one year	8	(122,255)	(100,404)
Net current assets		106,215	205,565
Net assets		126,433	227,182
Capital and reserves
Called up share capital		2	2
Profit and loss account		126,431	227,180
Shareholders' funds		126,433	227,182

For the financial year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 March 2022 and signed on its behalf by:
 

......................................... Mr Neil Philip Lanceley Heywood Director

Matrix Analytics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The entity has transitioned from previous UK GAAP to FRS 102 as at 01 August 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in notes.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Development costs

Expenditure on research and development is written off in the year in which it is incurred.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 
 

Matrix Analytics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

3	Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 3).

Directors' remuneration

The directors' remuneration for the year was as follows:

	2021 £	2020 £
Remuneration	48,700	25,500

4

Taxation

The tax charge on the profit for the year was as follows:
 

	2021  £	2020  £
UK corporation tax	-	(5,612)
Tax on profit	-	(5,612)

Matrix Analytics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 August 2020	8,602	8,602
Additions	374	374
Disposals	(399)	(399)
At 31 July 2021	8,577	8,577
Depreciation
At 1 August 2020	8,602	8,602
Charge for the year	123	123
Eliminated on disposal	(399)	(399)
At 31 July 2021	8,326	8,326
Carrying amount
At 31 July 2021	251	251

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 August 2020	21,617	21,617
Disposals	(1,650)	(1,650)
At 31 July 2021	19,967	19,967
Impairment
Carrying amount
At 31 July 2021	19,967	19,967

7

Debtors

Matrix Analytics Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2021

	2021 £	2020 £
Trade debtors	-	1,200
Other debtors	5,978	5,612
	5,978	6,812

8

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Taxation and social security	178	-
Other creditors	122,077	100,404
	122,255	100,404

9	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	2021  £	2020  £
Mr N P L Heywood	121,044	99,371
Mrs V A Heywood	-	-
	121,044	99,371

The maximum balance outstanding during the year amounted to £121,044.

The directors current accounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Matrix Analytics Limited
for the Year Ended 31 July 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Matrix Analytics Limited for the year ended 31 July 2021 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Matrix Analytics Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Matrix Analytics Limited and state those matters that we have agreed to state to the Board of Directors of Matrix Analytics Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Matrix Analytics Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Matrix Analytics Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Matrix Analytics Limited. You consider that Matrix Analytics Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Matrix Analytics Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Yates & Co CA
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

23 March 2022