2021-03-112021-12-312021-12-31false13259771METALAB DESIGN (UK) 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METALAB DESIGN (UK) LTD

Registered Number
13259771
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2021

METALAB DESIGN (UK) LTD
Company Information
for the period from 11 March 2021 to 31 December 2021

Directors

SPARLING, Christopher James
WILKINSON, Andrew David Charles

Registered Address

49 Greek Street
London
W1D 4EG

Registered Number

13259771 (England and Wales)
METALAB DESIGN (UK) LTD
Balance Sheet as at
31 December 2021

Notes

2021

£

£

Fixed assets
Tangible assets15,594
15,594
Current assets
Debtors514,802
Cash at bank and on hand70,420
85,222
Creditors amounts falling due within one year6(68,955)
Net current assets (liabilities)16,267
Total assets less current liabilities31,861
Net assets31,861
Capital and reserves
Profit and loss account31,861
Shareholders' funds31,861
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2022, and are signed on its behalf by:
SPARLING, Christopher James
Director
WILKINSON, Andrew David Charles
Director

Registered Company No. 13259771
METALAB DESIGN (UK) LTD
Notes to the Financial Statements
for the period ended 31 December 2021

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
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.
4.Employee information

2021
Average number of employees during the year12
5.Debtors

2021

£
Trade debtors / trade receivables13,708
Other debtors1,094
Total14,802
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors within one year

2021

£
Trade creditors / trade payables74,762
Taxation and social security(5,807)
Total68,955
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.