Company Registration No. NI632116 (Northern Ireland)
Metadeck Ltd
Unaudited accounts
for the year ended 30 June 2023
Metadeck Ltd
Unaudited accounts
Contents
Metadeck Ltd
Company Information
for the year ended 30 June 2023
Company Number
NI632116 (Northern Ireland)
Registered Office
36 The Meadows
Derry
BT48 8RJ
Northern Ireland
Accountants
Satori Accounting
11 Orchard Business Park
Pennyburn Industrial Estate
Derry
Northern Ireland
BT48 0LU
Metadeck Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
13,093
18,792
Cash at bank and in hand
6,672
10,644
Creditors: amounts falling due within one year
(53,688)
(35,901)
Net current (liabilities)/assets
(7,252)
15,810
Called up share capital
1
1
Profit and loss account
5,840
34,601
Shareholders' funds
5,841
34,602
For the year ending 30 June 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 director acknowledges his 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 and authorised for issue on 27 February 2024 and were signed on its behalf by
Declan McDonough
Director
Company Registration No. NI632116
Metadeck Ltd
Notes to the Accounts
for the year ended 30 June 2023
Metadeck Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI632116. The registered office is 36 The Meadows, Derry, BT48 8RJ, Northern Ireland.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
Expenditure on research and development is written off in the year in which it is incurred.
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
15% Written Down Value
Computer equipment
33% straight line
Metadeck Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
20,460
7,958
28,418
At 30 June 2023
20,460
11,489
31,949
At 1 July 2022
3,978
5,648
9,626
Charge for the year
6,820
2,410
9,230
At 30 June 2023
10,798
8,058
18,856
At 30 June 2023
9,662
3,431
13,093
At 30 June 2022
16,482
2,310
18,792
Amounts falling due within one year
Trade debtors
10,212
3,240
Accrued income and prepayments
288
440
Other debtors
29,264
29,182
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
14,334
18,333
Taxes and social security
1,513
7,351
7
Transactions with related parties
During the year, the following transactions arose between the company and its sole director:
- payments to director: £22,850
- personal expenses: £7,765
- company expenses: £1,240
- interest charged on overdrawn balance: £ 707
- dividends declared: £ 30,000
The amount owed by the director at the year-end date was £ 29,264. This is disclosed as "Other debtors" at note 5.
Metadeck Ltd
Notes to the Accounts
for the year ended 30 June 2023
8
Average number of employees
During the year the average number of employees was 3 (2022: 4).