Matrix Consult Limited Filleted accounts for Companies House (small and micro)

MATRIX CONSULT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05211741

MATRIX CONSULT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 August 2017

MATRIX CONSULT LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

MATRIX CONSULT LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	D J Clark
	S J Penwarden
	R M Geary

Company secretary	S J Penwarden

Registered office	10 Greycoat Place
	London
	SW1P 1SB

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

MATRIX CONSULT LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2017

	2017		2016
Note	£	£	£	£

Fixed assets

Intangible assets	5	2	2
Tangible assets	6	580	2,333
		----	-------
		582	2,335

Current assets

Debtors	7	143,790	198,801
Cash at bank and in hand		38,775	89,371
		---------	---------
		182,565	288,172

Creditors: amounts falling due within one year	8	86,609		62,712
		---------		---------
Net current assets			95,956		225,460
			--------		---------
Total assets less current liabilities			96,538		227,795
			--------		---------
Net assets			96,538		227,795
			--------		---------

Capital and reserves

Called up share capital	60,000	60,000
Profit and loss account	36,538	167,795
	--------	---------
Shareholders funds	96,538	227,795
	--------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 August 2017 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MATRIX CONSULT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2017

These financial statements were approved by the board of directors and authorised for issue on 29 May 2018 , and are signed on behalf of the board by:

S J Penwarden
Director

Company registration number: 05211741

MATRIX CONSULT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Greycoat Place, London, SW1P 1SB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 September 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2016: 4 ).

5. Intangible assets

	Goodwill	Contracts	Total
	£	£	£
Cost
At 1 September 2016 and 31 August 2017	1	1	2
	----	----	----
Amortisation
At 1 September 2016 and 31 August 2017	–	–	–
	----	----	----
Carrying amount
At 31 August 2017	1	1	2
	----	----	----
At 31 August 2016	1	1	2
	----	----	----

6. Tangible assets

	Office equipment	Total
	£	£
Cost
At 1 September 2016 and 31 August 2017	16,285	16,285
	--------	--------
Depreciation
At 1 September 2016	13,952	13,952
Charge for the year	1,753	1,753
	--------	--------
At 31 August 2017	15,705	15,705
	--------	--------
Carrying amount
At 31 August 2017	580	580
	--------	--------
At 31 August 2016	2,333	2,333
	--------	--------

7. Debtors

	2017	2016
	£	£
Trade debtors	18,000	72,405
Other debtors	125,790	126,396
	---------	---------
	143,790	198,801
	---------	---------

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	650	–
Social security and other taxes	26,489	26,954
Other creditors	59,470	35,758
	--------	--------
	86,609	62,712
	--------	--------

9. Controlling party

The company is under the control of is directors.

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 September 2015.

No transitional adjustments were required in equity or profit or loss for the year.