Matrix Cleaning Systems Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05307124 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2023

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

25,320

34,336

Tangible assets

5

116,118

116,258

Investments

6

2

2

141,440

150,596

CURRENT ASSETS

Stocks

279,311

330,649

Debtors

7

214,644

250,863

Cash at bank and in hand

64,108

14,147

558,063

595,659

CREDITORS

Amounts falling due within one year

8

377,278

346,147

NET CURRENT ASSETS

180,785

249,512

TOTAL ASSETS LESS CURRENT LIABILITIES

322,225

400,108

CREDITORS

Amounts falling due after more than one year

9

(62,710

)

(62,632

)

PROVISIONS FOR LIABILITIES

-

(11,755

)

NET ASSETS

259,515

325,721

CAPITAL AND RESERVES

Called up share capital

19,599

19,599

Retained earnings

239,916

306,122

SHAREHOLDERS' FUNDS

259,515

325,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 19th December 2023 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 (2022 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st April 2022

and 31st March 2023

55,000

79,927

134,927

AMORTISATION

At 1st April 2022

55,000

45,591

100,591

Charge for year

-

9,016

9,016

At 31st March 2023

55,000

54,607

109,607

NET BOOK VALUE

At 31st March 2023

-

25,320

25,320

At 31st March 2022

-

34,336

34,336

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st April 2022

23,629

427,521

451,150

Additions

-

55,670

55,670

Disposals

-

(87,637

)

(87,637

)

At 31st March 2023

23,629

395,554

419,183

DEPRECIATION

At 1st April 2022

22,472

312,420

334,892

Charge for year

581

22,927

23,508

Eliminated on disposal

-

(55,335

)

(55,335

)

At 31st March 2023

23,053

280,012

303,065

NET BOOK VALUE

At 31st March 2023

576

115,542

116,118

At 31st March 2022

1,157

115,101

116,258

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

Plant and

machinery

etc

£

COST

At 1st April 2022

107,117

Additions

51,010

Disposals

(87,637

)

At 31st March 2023

70,490

DEPRECIATION

At 1st April 2022

63,856

Charge for year

3,802

Eliminated on disposal

(55,335

)

At 31st March 2023

12,323

NET BOOK VALUE

At 31st March 2023

58,167

At 31st March 2022

43,261

6.	FIXED ASSET INVESTMENTS

Interest

in other

participating

interests

£

COST

At 1st April 2022

and 31st March 2023

2

NET BOOK VALUE

At 31st March 2023

2

At 31st March 2022

2

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

197,328

237,042

Other debtors

17,316

13,821

214,644

250,863

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

207,654

259,688

Hire purchase contracts (see note 10)

8,231

11,857

Trade creditors

103,581

49,234

Taxation and social security

11,896

19,973

Other creditors

45,916

5,395

377,278

346,147

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

26,667

36,667

Hire purchase contracts (see note 10)

36,043

25,965

62,710

62,632

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

8,231

11,857

Between one and five years

36,043

25,965

44,274

37,822

The company has annual leasing commitments that expire within two years of £31,251 (2022 - £30,263).

11.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdrafts

197,654

249,688

Hire purchase contracts

44,274

37,822

241,928

287,510

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 of £36,667 (2022 - £46,667).

12.	ULTIMATE CONTROLLING PARTY

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