Registered number
07269973
Metropolis Investments Ltd
Filleted Accounts
30 June 2023
Metropolis Investments Ltd
Registered number: 07269973
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 707,572 692,822
Current assets
Debtors 4 70,001 70,001
Cash at bank and in hand 319 12,614
70,320 82,615
Creditors: amounts falling due within one year 5 (376,204) (375,892)
Net current liabilities (305,884) (293,277)
Total assets less current liabilities 401,688 399,545
Creditors: amounts falling due after more than one year 6 (162,848) (170,473)
Provisions for liabilities (17,365) (17,365)
Net assets 221,475 211,707
Capital and reserves
Called up share capital 1 1
Revaluation reserve 7 127,984 127,984
Profit and loss account 93,490 83,722
Shareholders' funds 221,475 211,707
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Esther SPITZER
Director
Approved by the board on 12 February 2024
Metropolis Investments Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Cost
At 1 July 2022 692,822
Additions 14,750
At 30 June 2023 707,572
4 Debtors 2023 2022
£ £
Trade debtors - -
Other debtors 70,001 70,001
70,001 70,001
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,354 6,186
Other creditors 371,350 369,706
376,204 375,892
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 162,848 170,473
7 Revaluation reserve 2023 2022
£ £
At 1 July 2022 127,984 127,984
At 30 June 2023 127,984 127,984
8 Other information
Metropolis Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
Metropolis Investments Ltd 07269973 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Esther SPITZER No description of principal activity 07269973 2021-07-01 2022-06-30 07269973 core:WithinOneYear 2022-06-30 07269973 core:AfterOneYear 2022-06-30 07269973 core:ShareCapital 2022-06-30 07269973 core:OtherReservesSubtotal 2022-06-30 07269973 core:RetainedEarningsAccumulatedLosses 2022-06-30 07269973 core:RevaluationReserve 2021-06-30 07269973 2022-07-01 2023-06-30 07269973 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07269973 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07269973 bus:Director40 2022-07-01 2023-06-30 07269973 1 2022-07-01 2023-06-30 07269973 2 2022-07-01 2023-06-30 07269973 countries:England 2022-07-01 2023-06-30 07269973 bus:FRS102 2022-07-01 2023-06-30 07269973 bus:FullAccounts 2022-07-01 2023-06-30 07269973 2023-06-30 07269973 core:WithinOneYear 2023-06-30 07269973 core:AfterOneYear 2023-06-30 07269973 core:ShareCapital 2023-06-30 07269973 core:OtherReservesSubtotal 2023-06-30 07269973 core:RetainedEarningsAccumulatedLosses 2023-06-30 07269973 core:AdditionsToInvestments 2023-06-30 07269973 core:RevaluationReserve 2023-06-30 07269973 2022-06-30 07269973 core:RevaluationReserve 2022-06-30 iso4217:GBP xbrli:pure