Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-314truefalse2023-01-01No description of principal activity5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09867537 2023-01-01 2023-12-31 09867537 2022-01-01 2022-12-31 09867537 2023-12-31 09867537 2022-12-31 09867537 2022-01-01 09867537 c:Director1 2023-01-01 2023-12-31 09867537 d:Buildings 2023-01-01 2023-12-31 09867537 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 09867537 d:Buildings d:LongLeaseholdAssets 2023-12-31 09867537 d:Buildings d:LongLeaseholdAssets 2022-12-31 09867537 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 09867537 d:LandBuildings 2023-12-31 09867537 d:LandBuildings 2022-12-31 09867537 d:PlantMachinery 2023-01-01 2023-12-31 09867537 d:PlantMachinery 2023-12-31 09867537 d:PlantMachinery 2022-12-31 09867537 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09867537 d:MotorVehicles 2023-01-01 2023-12-31 09867537 d:MotorVehicles 2023-12-31 09867537 d:MotorVehicles 2022-12-31 09867537 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09867537 d:OfficeEquipment 2023-01-01 2023-12-31 09867537 d:OfficeEquipment 2023-12-31 09867537 d:OfficeEquipment 2022-12-31 09867537 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09867537 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09867537 d:CurrentFinancialInstruments 2023-12-31 09867537 d:CurrentFinancialInstruments 2022-12-31 09867537 d:Non-currentFinancialInstruments 2023-12-31 09867537 d:Non-currentFinancialInstruments 2022-12-31 09867537 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09867537 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09867537 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09867537 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09867537 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 09867537 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09867537 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09867537 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09867537 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 09867537 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 09867537 d:ShareCapital 2023-01-01 2023-12-31 09867537 d:ShareCapital 2023-12-31 09867537 d:ShareCapital 2022-01-01 2022-12-31 09867537 d:ShareCapital 2022-12-31 09867537 d:ShareCapital 2022-01-01 09867537 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09867537 d:RetainedEarningsAccumulatedLosses 2023-12-31 09867537 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09867537 d:RetainedEarningsAccumulatedLosses 2022-12-31 09867537 d:RetainedEarningsAccumulatedLosses 2022-01-01 09867537 c:FRS102 2023-01-01 2023-12-31 09867537 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09867537 c:FullAccounts 2023-01-01 2023-12-31 09867537 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09867537 2 2023-01-01 2023-12-31 09867537 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

09867537









METALOGALVA LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
METALOGALVA LIMITED
REGISTERED NUMBER: 09867537

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,273
42,090

  
75,273
42,090

Current assets
  

Stocks
 5 
640,567
563,647

Debtors: amounts falling due within one year
 6 
427,793
490,305

Cash at bank and in hand
  
224,232
222,266

  
1,292,592
1,276,218

Creditors: amounts falling due within one year
 7 
(1,364,114)
(1,355,892)

Net current liabilities
  
 
 
(71,522)
 
 
(79,674)

Total assets less current liabilities
  
3,751
(37,584)

Creditors: amounts falling due after more than one year
 8 
(28,881)
(39,788)

  

Net liabilities
  
(25,130)
(77,372)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(25,230)
(77,472)

  
(25,130)
(77,372)


Page 1

 
METALOGALVA LIMITED
REGISTERED NUMBER: 09867537
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income statement 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 on 14 March 2024.




................................................
Mr Robert John Stanford
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
METALOGALVA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2023
100
(77,472)
(77,372)


Comprehensive income for the year

Profit for the year

-
52,242
52,242


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
52,242
52,242


Total transactions with owners
-
-
-


At 31 December 2023
100
(25,230)
(25,130)


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
METALOGALVA LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2022
100
(344,895)
(344,795)


Comprehensive income for the year

Profit for the year

-
267,423
267,423


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
267,423
267,423


Total transactions with owners
-
-
-


At 31 December 2022
100
(77,472)
(77,372)


The notes on pages 5 to 13 form part of these financial statements.

Page 4

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

1.


General information

Metalogalva Limited is a private company limited by shares, incorporated in England & Wales, and  registration number 09867537. The Registered Office address is at 2nd floor, 19 Margaret Street, London W1W 8RR. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

Given the assurances and undertakings from the shareholders that they will support the company if it fails to meet its liabilities in the foreseeable future, the directors have decided to prepare these financial statements on a going concern basis.

 
2.3

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 Income Statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

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

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

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

2.Accounting policies (continued)

 
2.8

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

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:

Freehold property
-
Short-term leasehold property
-
Plant and machinery
-
15%
on a reducing balance basis
Motor vehicles
-
25%
on a reducing balance basis
Office equipment
-
15%
on a reducing balance basis

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.

Page 7

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

2.Accounting policies (continued)

 
2.10

Inventories

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 reporting 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 8

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets
Page 9

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.


3.


Employees

The average monthly number of employees, including the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Office and administration
1
1



Sales. marketing and distribution
4
3

5
4

Page 10

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

4.


Tangible fixed assets





Deposit on Plant and machinery
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
37,133
12,262
17,676
6,360
73,431


Additions
-
39,088
-
634
39,722


Disposals
(37,133)
37,133
-
-
-



At 31 December 2023

-
88,483
17,676
6,994
113,153



Depreciation


At 1 January 2023
-
9,790
17,676
3,874
31,340


Charge for the year on owned assets
-
5,042
-
1,498
6,540



At 31 December 2023

-
14,832
17,676
5,372
37,880



Net book value



At 31 December 2023
-
73,651
-
1,622
75,273



At 31 December 2022
37,133
2,471
-
2,486
42,090




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Industry Cargo Hall
-
37,133

-
37,133



5.


Inventories

2023
2022
£
£

Finished goods and goods for resale
640,567
563,647

640,567
563,647


Page 11

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

6.


Debtors

2023
2022
£
£


Trade debtors
406,348
436,623

Other debtors
13,279
26,613

Prepayments and accrued income
8,166
27,069

427,793
490,305



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,256,183
1,161,412

Corporation tax
3,266
-

Other taxation and social security
87,559
97,908

Other creditors
7,700
46,111

Accruals and deferred income
9,406
50,461

1,364,114
1,355,892



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,881
39,788

28,881
39,788


Page 12

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

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bounce Bank loan
21,814
-


21,814
-

Amounts falling due 2-5 years

Bounce Back loan
7,067
-


7,067
-

Amounts falling due after more than 5 years

Bounce Back loan
-
39,788

-
39,788

28,881
39,788



10.


Controlling party

The ultimate controlling parties are Mr A P R B Martinho Antunes and Mr R Stanford, company directors, acting in concert.

 
Page 13