Matrix Property Solutions Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08027484

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

MATRIX PROPERTY SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs C K Sidhu

Mrs C Patel

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

08027484

FIXED ASSETS

Tangible assets

4

847

1,116

CURRENT ASSETS

Debtors

5

33,778

33,863

Cash at bank

119

225

33,897

34,088

CREDITORS

Amounts falling due within one year

6

47,757

45,663

NET CURRENT LIABILITIES

(13,860

)

(11,575

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,013

)

(10,459

)

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

(13,015

)

(10,461

)

SHAREHOLDERS' FUNDS

(13,013

)

(10,459

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:

Mrs C K Sidhu - Director

1.	STATUTORY INFORMATION

Matrix Property Solutions Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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 NIL (2022 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 February 2022

and 31 January 2023

1,206

5,500

6,706

DEPRECIATION

At 1 February 2022

997

4,593

5,590

Charge for year

42

227

269

At 31 January 2023

1,039

4,820

5,859

NET BOOK VALUE

At 31 January 2023

167

680

847

At 31 January 2022

209

907

1,116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/23

31/1/22

£

£

Trade debtors

8,568

8,568

Homepoint Estate Agents Ltd

25,000

25,000

VAT

210

295

33,778

33,863

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/23

31/1/22

£

£

Bank loans and overdrafts (see note 7)

23,300

23,401

Trade creditors

4,162

2,417

Directors' curr accs less 1yr

19,945

18,945

Accrued expenses

350

900

47,757

45,663

7.

LOANS

An analysis of the maturity of loans is given below:

31/1/23

31/1/22

£

£

Amounts falling due within one year or on demand:

Bank loans

23,300

23,401

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/23

31/1/22

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 February 2022

(10,461

)

Deficit for the year

(2,554

)

At 31 January 2023

(13,015

)