Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28truetrue2022-03-01falseNo description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01267091 2022-03-01 2023-02-28 01267091 2021-03-01 2022-02-28 01267091 2023-02-28 01267091 2022-02-28 01267091 2021-03-01 01267091 c:Director3 2022-03-01 2023-02-28 01267091 d:FurnitureFittings 2022-03-01 2023-02-28 01267091 d:FurnitureFittings 2023-02-28 01267091 d:FurnitureFittings 2022-02-28 01267091 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01267091 d:OfficeEquipment 2022-03-01 2023-02-28 01267091 d:OfficeEquipment 2023-02-28 01267091 d:OfficeEquipment 2022-02-28 01267091 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01267091 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 01267091 d:Goodwill 2022-03-01 2023-02-28 01267091 d:Goodwill 2023-02-28 01267091 d:Goodwill 2022-02-28 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-03-01 2023-02-28 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-02-28 01267091 d:CurrentFinancialInstruments 2023-02-28 01267091 d:CurrentFinancialInstruments 2022-02-28 01267091 d:Non-currentFinancialInstruments 2023-02-28 01267091 d:Non-currentFinancialInstruments 2022-02-28 01267091 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01267091 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 01267091 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 01267091 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 01267091 d:ShareCapital 2022-03-01 2023-02-28 01267091 d:ShareCapital 2023-02-28 01267091 d:ShareCapital 2022-02-28 01267091 d:ShareCapital 2021-03-01 01267091 d:CapitalRedemptionReserve 2023-02-28 01267091 d:CapitalRedemptionReserve 2022-02-28 01267091 d:CapitalRedemptionReserve 2021-03-01 01267091 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 01267091 d:RetainedEarningsAccumulatedLosses 2023-02-28 01267091 d:RetainedEarningsAccumulatedLosses 2021-03-01 2022-02-28 01267091 d:RetainedEarningsAccumulatedLosses 2022-02-28 01267091 d:RetainedEarningsAccumulatedLosses 2021-03-01 01267091 c:OrdinaryShareClass1 2022-03-01 2023-02-28 01267091 c:OrdinaryShareClass1 2023-02-28 01267091 c:OrdinaryShareClass1 2022-02-28 01267091 c:FRS102 2022-03-01 2023-02-28 01267091 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 01267091 c:FullAccounts 2022-03-01 2023-02-28 01267091 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 01267091 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 01267091 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 01267091 d:Goodwill d:OwnedIntangibleAssets 2022-03-01 2023-02-28 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01267091









MET-CHECK LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023







































 
MET-CHECK LIMITED
REGISTERED NUMBER: 01267091

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
76
152

Tangible assets
 5 
72
90

  
148
242

Current assets
  

Stocks
 6 
49,750
43,291

Debtors: amounts falling due within one year
 7 
104,123
62,484

Cash at bank and in hand
 8 
78,781
125,646

  
232,654
231,421

Creditors: amounts falling due within one year
 9 
(24,515)
(14,443)

Net current assets
  
 
 
208,139
 
 
216,978

Total assets less current liabilities
  
208,287
217,220

Creditors: amounts falling due after more than one year
 10 
(55,355)
(73,564)

Provisions for liabilities
  

Deferred tax
 11 
(18)
(60)

Net assets
  
152,914
143,596


Capital and reserves
  

Called up share capital 
 12 
77
102

Capital redemption reserve
  
25
-

Profit and loss account
  
152,812
143,494

  
152,914
143,596


Page 1

 
MET-CHECK LIMITED
REGISTERED NUMBER: 01267091
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
I E Cunningham
Director

Date: 9 November 2023


The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
MET-CHECK LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 March 2021
102
-
139,480
139,582



Profit for the year

-
-
4,014
4,014



At 1 March 2022
102
-
143,494
143,596



Profit for the year

-
-
21,318
21,318

Purchase of own shares
-
25
(12,000)
(11,975)

Shares cancelled during the year
(25)
-
-
(25)


At 28 February 2023
77
25
152,812
152,914


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Met-Check Limited is a private company limited by shares and is incorporated in England and Wales.
The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.
The principal activity of the company is that of retailer of weather instrumentation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Page 4

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years
Trademarks
-
10
years

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Intangible assets




Trademarks
Goodwill
Total

£
£
£



Cost


At 1 March 2022
760
40,000
40,760



At 28 February 2023

760
40,000
40,760



Amortisation


At 1 March 2022
608
40,000
40,608


Charge for the year on owned assets
76
-
76



At 28 February 2023

684
40,000
40,684



Net book value



At 28 February 2023
76
-
76



At 28 February 2022
152
-
152



Page 7

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
570
601
1,171



At 28 February 2023

570
601
1,171



Depreciation


At 1 March 2022
545
536
1,081


Charge for the year on owned assets
5
13
18



At 28 February 2023

550
549
1,099



Net book value



At 28 February 2023
20
52
72



At 28 February 2022
25
65
90


6.


Stocks

2023
2022
£
£

Raw materials and consumables
49,750
43,291


Page 8

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
435
670

Other debtors
103,684
61,810

Called up share capital not paid
4
4

104,123
62,484



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
78,781
125,646



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
12,556
6,581

Trade creditors
3,396
5,198

Other taxation and social security
6,787
963

Accruals and deferred income
1,776
1,701

24,515
14,443



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
55,355
73,564


Secured loans
Bank loans are secured against the business assets.

Page 9

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

11.


Deferred taxation




2023


£






At beginning of year
(60)


Charged to profit or loss
42



At end of year
(18)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(18)
(60)

(18)
(60)


12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



77 (2022 - 102) Ordinary shares of £1.00 each
77
102



13.


Controlling party

The company is under the control of the directors who hold the majority shareholding.

 
Page 10