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REGISTERED NUMBER: SC314533 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Metro Homes Limited

Metro Homes Limited (Registered number: SC314533)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Metro Homes Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr B J Buchan





REGISTERED OFFICE: Fitta Vu
Chapel Park
Mintlaw
Peterhead
Aberdeenshire
AB42 4JQ





REGISTERED NUMBER: SC314533 (Scotland)





ACCOUNTANTS: SBP
Accountants
2 Cross Street
Fraserburgh
Aberdeenshire
AB43 9EQ

Metro Homes Limited (Registered number: SC314533)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,632 8,052
Investment property 5 62,313 62,313
67,945 70,365

CURRENT ASSETS
Debtors 6 - 576
Cash at bank 53,105 28,309
53,105 28,885
CREDITORS
Amounts falling due within one year 7 12,049 9,742
NET CURRENT ASSETS 41,056 19,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,001

89,508

CREDITORS
Amounts falling due after more than one
year

8

-

(18,595

)

PROVISIONS FOR LIABILITIES (410 ) (456 )
NET ASSETS 108,591 70,457

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 108,587 70,453
SHAREHOLDERS' FUNDS 108,591 70,457

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 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.

Metro Homes Limited (Registered number: SC314533)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2023 and were signed by:





Mr B J Buchan - Director


Metro Homes Limited (Registered number: SC314533)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Metro Homes Limited is a private company, limited by shares , registered in Scotland. 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 represents amounts receivable for services provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

Metro Homes Limited (Registered number: SC314533)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 17,020 700 12,283 726 30,729
Disposals - - (12,283 ) - (12,283 )
At 31 March 2023 17,020 700 - 726 18,446
DEPRECIATION
At 1 April 2022 10,995 140 11,360 182 22,677
Charge for year 1,204 112 - 181 1,497
Eliminated on disposal - - (11,360 ) - (11,360 )
At 31 March 2023 12,199 252 - 363 12,814
NET BOOK VALUE
At 31 March 2023 4,821 448 - 363 5,632
At 31 March 2022 6,025 560 923 544 8,052

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 62,313
NET BOOK VALUE
At 31 March 2023 62,313
At 31 March 2022 62,313

The director considers that there was no material change in the value of the investment property during the financial year.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors - 576

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 5,425
Trade creditors - 1,530
Taxation and social security 10,573 -
Other creditors 1,476 2,787
12,049 9,742

Metro Homes Limited (Registered number: SC314533)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 18,595

9. RELATED PARTY DISCLOSURES

The director, Mr B Buchan, operates a current account within the company and as at the financial year end the balance owing to him was £Nil (2022: £70). There are no fixed terms of repayment and no interest is accrued.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr B J Buchan.