REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Metamercat Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
Metamercat Limited |
Metamercat Limited (Registered number: 12470792) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Metamercat Limited |
Company Information |
for the Year Ended 28 February 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
120 New Cavendish Street, |
London |
W1W 6XX |
Metamercat Limited (Registered number: 12470792) |
Balance Sheet |
28 February 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ |
Fixed assets |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | Statutory information |
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Dover Street, London, England, W1S 4FF. |
The company's principal activity is that of a trading and business intermediary for related parties. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
The Company's ultimate shareholders continue to provide financial support to the company, which the director is confident will continue for a period of not less than twelve months from the date of approval of the financial statements. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. |
4. | Employees and directors |
The average number of employees during the year was |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
Additions |
At 28 February 2023 |
Net book value |
At 28 February 2023 |
During the period the company acquired 100% of the issued share capital in Mercat Minero Ibericos SL, a company incorporated in Barcelona, Spain. |
6. | Debtors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Other creditors |
Accruals and deferred income |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
8. | Related party disclosures |
RCM Trust |
During the year the company had the following transactions with the RCM Trust a shareholder in Metamercat Limited: |
28.02.23 | 28.02.22 |
£ | £ |
Balance brought forward | 38,870 | 11,060 |
Monies advanced to the company by The RCM Trust | 38,426 | 27,810 |
Balance carried forward | 77,296 | 38,870 |
The above loan is interest fee, unsecured and repayable on demand. |
UMA Wealth (UK) Limited |
During the year the company had the following transactions with UMA Wealth (UK) Limited, a company controlled by the Director A U Becerra Rojas: |
28.02.23 | 28.02.22 |
£ | £ |
Prepayment brought forward | (4,550 | ) | (6,980 | ) |
Administration services received | 13,976 | 20,613 |
Monies paid to UMA Wealth (UK) Limited | (16,926 | ) | (18,183 | ) |
Prepayment carried forward | 7,500 | 4,550 |
9. | Ultimate controlling party |
The company was controlled throughout the period by UMA Swiss AG as Trustee of The RCM Trust by virtue of their 100% ownership of the issued share capital in Metamercat Limited. |