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REGISTERED NUMBER: 04053855 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 March 2023

for

Metainy Air Conditioning Limited

Metainy Air Conditioning Limited (Registered number: 04053855)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Metainy Air Conditioning Limited

Company Information
For The Year Ended 31 March 2023







DIRECTORS: G C Earl
M J Baker





SECRETARY: G C Earl





REGISTERED OFFICE: Unit 19
Woodlands Business Park
Woodlands Park Avenue
Maidenhead
Berkshire
SL6 3UA





REGISTERED NUMBER: 04053855 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Metainy Air Conditioning Limited (Registered number: 04053855)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 76,466 33,063

CURRENT ASSETS
Debtors 5 695,155 626,665
Cash at bank and in hand 70,704 86,608
765,859 713,273
CREDITORS
Amounts falling due within one year 6 466,200 482,404
NET CURRENT ASSETS 299,659 230,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

376,125

263,932

CREDITORS
Amounts falling due after more than one
year

7

(22,500

)

(32,500

)

PROVISIONS FOR LIABILITIES 8 (299,274 ) (229,432 )
NET ASSETS 54,351 2,000

CAPITAL AND RESERVES
Called up share capital 9 48 48
Capital redemption reserve 10 24 24
Retained earnings 10 54,279 1,928
SHAREHOLDERS' FUNDS 54,351 2,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)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.

Metainy Air Conditioning Limited (Registered number: 04053855)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:




G C Earl - Director



M J Baker - Director


Metainy Air Conditioning Limited (Registered number: 04053855)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Metainy Air Conditioning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and is recognised as air conditioning installation and maintenance services are provided.

It includes the relevant amount in respect of long term contracts which is appropriate to the stage of completion of each contract at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the lease term
Office equipment - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 50% on cost and 25% on cost

Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Metainy Air Conditioning Limited (Registered number: 04053855)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Stock and long term contract balances
Stock excluding long term contract balances are included in the accounts at the lower of cost and net realisable value.
Long term contract balances classified under the balance sheet heading of stocks are stated at total costs incurred, net of amounts transferred to the profit and loss account in respect of work carried out to date, less foreseeable losses and applicable payments on account. Cumulative turnover representing the amount earned in respect of each long term contract up to the balance sheet date is compared with total payments on account for each contract. Where turnover exceeds payments on account the amount is disclosed as "amounts recoverable on contracts" within debtors. Where payments on account exceed the turnover, the amount is disclosed as "payments on account" within creditors.

Where long term contracts are included within turnover, associated costs in respect of work carried out to date are included in either trade creditors, or accrued expenses where such costs have not been invoiced prior to the end of the period.

Warranty provisions
The company provides a guarantee on the goods and services it supplies for between 12 months and 7 years following completion of work. Provision is made for the possible additional costs of rectification work at a rate up to 3.75% of the value of turnover in respect of completed work at the balance sheet date and is charged to costs of sales in the profit and loss account.The amounts are reviewed and reduced as time elapses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

Metainy Air Conditioning Limited (Registered number: 04053855)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Office and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2022 58,441 52,961 3,484 111,108 225,994
Additions - 719 - 55,589 56,308
At 31 March 2023 58,441 53,680 3,484 166,697 282,302
DEPRECIATION
At 1 April 2022 58,441 48,128 3,218 83,144 192,931
Charge for year - 2,092 266 10,547 12,905
At 31 March 2023 58,441 50,220 3,484 93,691 205,836
NET BOOK VALUE
At 31 March 2023 - 3,460 - 73,006 76,466
At 31 March 2022 - 4,833 266 27,964 33,063

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 583,266 500,998
Amounts recoverable on contract 75,210 90,243
Other debtors 1,045 1,045
Prepayments and accrued income 35,634 34,379
695,155 626,665

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 205,739 349,234
Corporation tax 56,465 47,521
Social security and other taxes 16,287 19,731
VAT 7,799 14,222
Other creditors 3,041 2,872
Directors' current accounts - 20,000
Accruals and deferred income 166,869 18,824
466,200 482,404

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,500 32,500

Metainy Air Conditioning Limited (Registered number: 04053855)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax
Accelerated capital allowances 12,081 526
Warranty provision 287,193 228,906
299,274 229,432

Deferred
tax
£   
Balance at 1 April 2022 526
Provided during year 11,555
Balance at 31 March 2023 12,081

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
48 Ordinary £1 48 48

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 April 2022 1,928 24 1,952
Profit for the year 266,751 266,751
Dividends (214,400 ) (214,400 )
At 31 March 2023 54,279 24 54,303