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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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MATRIX RESIDENTS ASSOCIATION LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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FOR |
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MATRIX RESIDENTS ASSOCIATION LIMITED |
MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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MATRIX RESIDENTS ASSOCIATION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Sutherland House |
1759 London Road |
Leigh on Sea |
Essex |
SS9 2RZ |
MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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The directors present their report with the financial statements of the company for the year ended 31st December 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the administration of variable service charges |
as agents of the statutory trust for the residents of Matrix Residents Association Limited, Mercury Court, Victoria Road, |
Romford, Essex RM1 2AB |
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In accordance with guidance contained in ICAEW publication Tech 3/11 and FRC UITF publication 92 (withdrawn) the |
company have this year recorded transactions where it may be deemed to have been acting as a principal or undisclosed |
agent to purchase goods and services on behalf of the service charge. |
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Balances in the financial statements relate solely to amounts due to or from the service charge. |
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Lessees can obtain the full set of information about service charges in separately prepared service charge accounts. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st January 2019 to the date of this |
report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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2019 | 2018 |
£ | £ |
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TURNOVER |
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Administrative expenses |
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(54,823 | ) | (50,441 | ) |
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Other operating income |
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OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL YEAR |
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MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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BALANCE SHEET |
31ST DECEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Matrix Residents Association Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | SERVICE CHARGE BALANCES |
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At the balance sheet date balances reflected in the service charge accounts were: |
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Bank £37,255 (2018 £9,613) |
Unpaid service charges due £13,853 (2018 £11,014) |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Other creditors |
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MATRIX RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 04486298) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2019 |
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7. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. All lessees hold shares and are entitled to vote. |