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REGISTERED NUMBER: 04648525 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

METAL ASPECTS LTD

METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


METAL ASPECTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S K Whorlow





SECRETARY: Mrs S J Laws





REGISTERED OFFICE: Unit 2 Denton Slipways Site
Wharf Road
Gravesend
Kent
DA12 2RU





REGISTERED NUMBER: 04648525 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS

METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,885 38,485

CURRENT ASSETS
Stocks 109,214 66,271
Debtors 5 486,141 639,035
Cash at bank 596,635 860,003
1,191,990 1,565,309
CREDITORS
Amounts falling due within one year 6 842,927 1,014,219
NET CURRENT ASSETS 349,063 551,090
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,948

589,575

PROVISIONS FOR LIABILITIES 7 10,238 7,312
NET ASSETS 392,710 582,263

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 392,610 582,163
SHAREHOLDERS' FUNDS 392,710 582,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:





S K Whorlow - Director


METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Metal Aspects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 74,411 93,248 167,659
Additions 3,969 31,510 35,479
Disposals - (18,715 ) (18,715 )
At 31 December 2023 78,380 106,043 184,423
DEPRECIATION
At 1 January 2023 59,586 69,588 129,174
Charge for year 4,611 13,233 17,844
Eliminated on disposal - (16,480 ) (16,480 )
At 31 December 2023 64,197 66,341 130,538
NET BOOK VALUE
At 31 December 2023 14,183 39,702 53,885
At 31 December 2022 14,825 23,660 38,485

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 376,340 538,976
Other debtors 109,801 100,059
486,141 639,035

METAL ASPECTS LTD (REGISTERED NUMBER: 04648525)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 78,193 115,064
Amounts owed to group undertakings 647,757 711,564
Taxation and social security 15,119 60,315
Other creditors 101,858 127,276
842,927 1,014,219

7. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 10,238 7,312

Deferred
tax
£   
Balance at 1 January 2023 7,312
Provided during year 2,926
Balance at 31 December 2023 10,238

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £74,985 (2022 - £55,038). No contributions (2022 - £nil) were payable to the fund at the balance sheet date.