Find closest value in array (multiple colums and rows)

Hi all you wise and wonderful people.
What I need to do is find the closest value (say 4.3) in a large array. Simple you might say- there are plenty of formulas a quick google gives you. My issues is that the array has multiple columns- so it ranged from B2:K8 for example. So I need to return the value that is closest in that array to my target value (Say in L1).
For extra points, if you can provide a formula that gives me the cell coordinates or returns the axis labels I keep in A2:A8 and A1:K1 you would be my fave peoples.

With code

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Kind regards
Leo

Well, I wrote it, so I'll post it, even though LeoTaxi beat me to it. (But hey, I'll bet mine's faster! )

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You'll need to adjust 2 cell references. Instructions for doing so are included in the attached workbook. - Lee