Registered number
04356463
METATAXIS LIMITED
Filleted Accounts
28 February 2018
METATAXIS LIMITED
Registered number: 04356463
Balance Sheet
as at 28 February 2018
Notes 2018 2017
£ £ £ £
Fixed assets
Tangible assets 3 2,965 2,891
Current assets
Debtors 4 174,231 36,608
Cash at bank and in hand 4,664 85,869
178,895 122,477
Creditors: amounts falling due within one year 5 (136,689) (91,528)
Net current assets 42,206 30,949
Net assets 45,171 33,840
Capital and reserves
Called up share capital 267 275
Share premium 6,434 6,050
Revaluation reserve 6 115 104
Profit and loss account 38,355 27,411
Shareholders' funds 45,171 33,840
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Stephenson
Director
Approved by the board on 12 November 2018
METATAXIS LIMITED
Notes to the Accounts
for the year ended 28 February 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of sales invoices rendered, excluding VAT.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2018 2017
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Computer Equipment
£
Cost
At 1 March 2017 14,458
Additions 1,062
At 28 February 2018 15,520
Depreciation
At 1 March 2017 11,567
Charge for the year 988
At 28 February 2018 12,555
Net book value
At 28 February 2018 2,965
At 28 February 2017 2,891
4 Debtors 2018 2017
£ £
Trade debtors 169,962 35,283
Other debtors 4,269 1,325
174,231 36,608
5 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 18,665 -
Taxation and social security costs 115,627 90,629
Other creditors 2,397 899
136,689 91,528
6 Capital redemption reserve 2018 2017
£ £
At 1 March 2017 104 104
Transfer from the profit and loss account 11 -
At 28 February 2018 115 104
7 Controlling party
The company is under the control of the directors.
8 Other information
METATAXIS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
53 Cavendish Road
London
SW12 0BL
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