ACCOUNTS - Final Accounts

MATRIX ER/HR LIMITED - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2017-04-01 05746877 2017-04-01 2018-03-31 05746877 2016-04-01 2017-03-31 05746877 2018-03-31 05746877 2017-03-31 05746877 c:Director1 2017-04-01 2018-03-31 05746877 d:PlantMachinery 2017-04-01 2018-03-31 05746877 d:PlantMachinery 2018-03-31 05746877 d:PlantMachinery 2017-03-31 05746877 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 05746877 d:CurrentFinancialInstruments 2018-03-31 05746877 d:CurrentFinancialInstruments 2017-03-31 05746877 c:FRS102 2017-04-01 2018-03-31 05746877 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 05746877 c:FullAccounts 2017-04-01 2018-03-31 05746877 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

05746877

MATRIX ER/HR LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018


MATRIX ER/HR LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 5


MATRIX ER/HR LIMITED REGISTERED NUMBER:05746877

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£


Fixed assets
Tangible assets	4		-		293
Current assets
Debtors: amounts falling due within one year	5	752		1,130
Bank & cash balances		4,484		1,889
		5,236		3,019
Creditors: amounts falling due within one year	6	(2,843)		(3,171)
Net current assets/(liabilities)			2,393		(152)



Net assets			2,393		141

Capital and reserves
Called up share capital	1	1
Profit and loss account	2,392	140
	2,393	141

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 December 2018.

Ms R. Hewitt-Gray

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


MATRIX ER/HR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

Matrix ER/HR Limited (the Company) is a private company, incorporated and domiclied in England. The address of its registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2


MATRIX ER/HR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and equipment

year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


MATRIX ER/HR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

4.	Tangible fixed assets

		Fixtures and equipment
		£
	Cost
	At 1 April 2017	4,087
	At 31 March 2018	4,087
	Depreciation
	At 1 April 2017	3,794
	Charge for the year on owned assets	293
	At 31 March 2018	4,087
	Net book value
	At 31 March 2018	-
	At 31 March 2017	293

Page 4


MATRIX ER/HR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Trade debtors	639	1,130
Prepayments and accrued income	113	-
	752	1,130

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	1,250	2,165
Other taxation and social security	274	-
Other creditors	319	6
Accruals and deferred income	1,000	1,000
	2,843	3,171

7.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £200 (2017: £Nil).

Page 5