Company Registration No. 08909047 (England and Wales)
MATRA HOLDINGS (UK) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
MATRA HOLDINGS (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MATRA HOLDINGS (UK) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Investments
2
400
200
Current assets
Debtors
3
7,000,049
3,201,106
Cash at bank and in hand
50
50
7,000,099
3,201,156
Creditors: amounts falling due within one year
4
(6,174,882)
(2,342,865)
Net current assets
825,217
858,291
Total assets less current liabilities
825,617
858,491
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
825,517
858,391
Total equity
825,617
858,491

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .

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

The financial statements were approved by the board of directors and authorised for issue on 18 December 2019 and are signed on its behalf by:
Martin Cudlipp
Director
Company Registration No. 08909047
MATRA HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information

Matra Holdings (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Scalpel 18th Floor, 52 Lime Street, EC3M 7AF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MATRA HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

MATRA HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7

Going concern

The financial statements have been prepared on a going concern basis as the group has sufficient resources and assets to meet its liabilities.

2
Fixed asset investments
2019
2018
£
£
Investments
400
200
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2018
200
Additions
200
At 31 March 2019
400
Carrying amount
At 31 March 2019
400
At 31 March 2018
200
MATRA HOLDINGS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
6,997,744
3,201,106
Other debtors
2,305
-
7,000,049
3,201,106

Amounts due from group undertakings are unsecured, interest-free and repayable on demand.

4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,671
-
Amounts owed to group undertakings
6,167,043
2,342,313
Other creditors
4,168
552
6,174,882
2,342,865
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
6
Related party transactions

At the balance sheet date, the amount payable to Matra Limited, the immediate parent company, amounted to £6,166,843 (2018: £2,342,313 ).

The company has taken advantage of the exemption available in FRS 102 (s33 "Related Party Disclosure"), whereby it has not disclosed transactions with any wholly owned subsidiary undertaking of the group.

7
Parent company

The immediate parent company is Matra Limited, a company registered in Jersey. The ultimate controlling party is Nayef Marar.

2019-03-31 2018-04-01 false 18 December 2019 CCH Software CCH Accounts Production 2019.301 No description of principal activity Howard Cameron Martin Cudlipp Timothy Knight Philip Hendy Simon Gordon 08909047 2018-04-01 2019-03-31 08909047 2019-03-31 08909047 2018-03-31 08909047 core:CurrentFinancialInstruments core:WithinOneYear 2019-03-31 08909047 core:CurrentFinancialInstruments core:WithinOneYear 2018-03-31 08909047 core:CurrentFinancialInstruments 2019-03-31 08909047 core:CurrentFinancialInstruments 2018-03-31 08909047 core:ShareCapital 2019-03-31 08909047 core:ShareCapital 2018-03-31 08909047 core:RetainedEarningsAccumulatedLosses 2019-03-31 08909047 core:RetainedEarningsAccumulatedLosses 2018-03-31 08909047 bus:Director3 2018-04-01 2019-03-31 08909047 core:WithinOneYear 2019-03-31 08909047 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 08909047 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 08909047 bus:FRS102 2018-04-01 2019-03-31 08909047 bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 08909047 bus:Director1 2018-04-01 2019-03-31 08909047 bus:Director2 2018-04-01 2019-03-31 08909047 bus:Director4 2018-04-01 2019-03-31 08909047 bus:Director5 2018-04-01 2019-03-31 08909047 bus:FullAccounts 2018-04-01 2019-03-31 xbrli:pure xbrli:shares iso4217:GBP