Silverfin false 28/02/2023 01/03/2022 28/02/2023 Mr Peter Davies 28/02/2018 23 October 2023 The principal activity of the company during the financial year is mineral processing consultancy. 11229239 2023-02-28 11229239 bus:Director1 2023-02-28 11229239 2022-02-28 11229239 core:CurrentFinancialInstruments 2023-02-28 11229239 core:CurrentFinancialInstruments 2022-02-28 11229239 core:ShareCapital 2023-02-28 11229239 core:ShareCapital 2022-02-28 11229239 core:RetainedEarningsAccumulatedLosses 2023-02-28 11229239 core:RetainedEarningsAccumulatedLosses 2022-02-28 11229239 core:OfficeEquipment 2022-02-28 11229239 core:OfficeEquipment 2023-02-28 11229239 2022-03-01 2023-02-28 11229239 bus:FullAccounts 2022-03-01 2023-02-28 11229239 bus:SmallEntities 2022-03-01 2023-02-28 11229239 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11229239 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11229239 bus:Director1 2022-03-01 2023-02-28 11229239 core:OfficeEquipment 2022-03-01 2023-02-28 11229239 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure

Company No: 11229239 (England and Wales)

METMASTERS LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

METMASTERS LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

METMASTERS LIMITED

COMPANY INFORMATION

For the financial year ended 28 February 2023
METMASTERS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 28 February 2023
DIRECTOR Mr Peter Davies
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 11229239 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
METMASTERS LIMITED

BALANCE SHEET

As at 28 February 2023
METMASTERS LIMITED

BALANCE SHEET (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,884 2,739
3,884 2,739
Current assets
Debtors 4 1,215 694
Cash at bank and in hand 74,429 77,402
75,644 78,096
Creditors: amounts falling due within one year 5 ( 4,904) ( 2,922)
Net current assets 70,740 75,174
Total assets less current liabilities 74,624 77,913
Provision for liabilities 277 ( 520)
Net assets 74,901 77,393
Capital and reserves
Called-up share capital 100 100
Profit and loss account 74,801 77,293
Total shareholders' funds 74,901 77,393

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of MetMasters Limited (registered number: 11229239) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

Mr Peter Davies
Director
METMASTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
METMASTERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MetMasters Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of consultancy services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 March 2022 4,369 4,369
Additions 1,864 1,864
At 28 February 2023 6,233 6,233
Accumulated depreciation
At 01 March 2022 1,630 1,630
Charge for the financial year 719 719
At 28 February 2023 2,349 2,349
Net book value
At 28 February 2023 3,884 3,884
At 28 February 2022 2,739 2,739

4. Debtors

2023 2022
£ £
Corporation tax 694 694
Other debtors 521 0
1,215 694

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 4,904 2,922