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Company Registration No. 08828934 (England and Wales)
Metrix Contractors Limited Unaudited accounts for the year ended 31 December 2023
Metrix Contractors Limited Unaudited accounts Contents
Page
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Metrix Contractors Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
145,903 
159,102 
Current assets
Inventories
25,260 
39,953 
Debtors
336,938 
457,888 
Cash at bank and in hand
142,052 
184,024 
504,250 
681,865 
Creditors: amounts falling due within one year
(183,207)
(289,281)
Net current assets
321,043 
392,584 
Total assets less current liabilities
466,946 
551,686 
Creditors: amounts falling due after more than one year
(126,594)
(198,771)
Provisions for liabilities
Deferred tax
(33,218)
(34,131)
Net assets
307,134 
318,784 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
307,132 
318,782 
Shareholders' funds
307,134 
318,784 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2024 and were signed on its behalf by
Hannah Dartnell Director Company Registration No. 08828934
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Metrix Contractors Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Metrix Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 08828934. The registered office is Downsview, Dittons Road, Polegate, East Sussex, BN26 6HS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% straight line
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Metrix Contractors Limited Notes to the Accounts for the year ended 31 December 2023
Employee Benefits
The cost of short-term employee benefits are recognised as a liability and expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
14,662 
26,229 
181,338 
8,894 
231,123 
Additions
- 
5,765 
19,200 
2,247 
27,212 
At 31 December 2023
14,662 
31,994 
200,538 
11,141 
258,335 
Depreciation
At 1 January 2023
1,681 
8,743 
57,052 
4,545 
72,021 
Charge for the year
649 
3,439 
35,072 
1,251 
40,411 
At 31 December 2023
2,330 
12,182 
92,124 
5,796 
112,432 
Net book value
At 31 December 2023
12,332 
19,812 
108,414 
5,345 
145,903 
At 31 December 2022
12,981 
17,486 
124,286 
4,349 
159,102 
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Metrix Contractors Limited Notes to the Accounts for the year ended 31 December 2023
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
44,935 
59,913 
5
Inventories
2023 
2022 
£ 
£ 
Raw materials
8,860 
8,675 
Work in progress
16,400 
31,278 
25,260 
39,953 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
154,385 
142,398 
Accrued income and prepayments
8,555 
8,366 
Other debtors
173,998 
307,124 
336,938 
457,888 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
67,767 
190,743 
Obligations under finance leases and hire purchase contracts
7,243 
7,243 
Trade creditors
32,347 
55,781 
Taxes and social security
65,032 
40,773 
Other creditors
10,921 
1,200 
Loans from directors
(103)
(6,459)
183,207 
289,281 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
99,422 
152,975 
Obligations under finance leases and hire purchase contracts
27,172 
45,796 
126,594 
198,771 
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
27,825 
33,251 
Later than one year and not later than five years
111,300 
111,300 
Later than five years
59,843 
87,668 
198,968 
232,219 
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Metrix Contractors Limited Notes to the Accounts for the year ended 31 December 2023
10
Transactions with related parties
During the year, the company made a payment to Downsview Holdings Limited in the amount of £192,710 (2022 - £145,591), a company under common control and ownership of the owners of Metrix Contractors Limited and provided construction services in the amount of £255,000 (2022 - £37,085). Downsview Holdings Limited repaid an amount of £700,385 (2022 - £70,000) to Metrix Contractors Limited. The balance outstanding at 31 December 2023 is £nil (2022 - £252,676). The amount is interest free and considered to be repayable on demand. All transactions are carried out on a commercial arms length basis. During the year, the company received monies in the amount of £10,000 (2022 - £39,470) from Metrix Finishes Limited, a company owned by H Dartnell. Metrix Contractors made payments to Metrix Finishes Limited in the amount of £143,710 (2022 - £56,855). The balance owed by Metrix Finishes Limited at 31 December 2023 is £133,710 (2022 - £nil). The amount is interest free and considered to be repayable on demand. All transactions are carried out on a commercial arms length basis.
11
Average number of employees
During the year the average number of employees was 12 (2022: 15).
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