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REGISTERED NUMBER: 08117336 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

METSTONE LIMITED

METSTONE LIMITED (REGISTERED NUMBER: 08117336)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


METSTONE LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: A N S Pindoria





REGISTERED OFFICE: 5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN





REGISTERED NUMBER: 08117336 (England and Wales)





ACCOUNTANTS: Sterling Associates
Chartered Certified Accountants
5 Theobald Court
Theobald Street
Elstree
Hertfordshire
WD6 4RN

METSTONE LIMITED (REGISTERED NUMBER: 08117336)

Statement of Financial Position
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 82,779 -
Investments 5 431,000 350,000
Investment property 6 1,325,000 1,325,000
1,838,779 1,675,000

CURRENT ASSETS
Debtors 7 183 347
Cash at bank 122,527 301,112
122,710 301,459
CREDITORS
Amounts falling due within one year 8 1,004,589 1,017,111
NET CURRENT LIABILITIES (881,879 ) (715,652 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

956,900

959,348

CREDITORS
Amounts falling due after more than one
year

9

659,800

659,800
NET ASSETS 297,100 299,548

CAPITAL AND RESERVES
Called up share capital 11 180 180
Fair value reserve 265,000 265,000
Retained earnings 31,920 34,368
SHAREHOLDERS' FUNDS 297,100 299,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 13 March 2024 and were signed by:



A N S Pindoria - Director


METSTONE LIMITED (REGISTERED NUMBER: 08117336)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Metstone Limited 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with Financial Reporting Standard for Smaller Entities (effective 2015), no depreciation is provided in respect of freehold properties. Such properties are not held for consumption but for investment and the director consider that to depreciate them would not give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director consider that this policy results in the accounts giving a true and fair view.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

The director has undertaken a detailed Profit and Loss and Cash Flow forecasting exercise incorporating the ongoing impact of the COVID-19 pandemic. As a result of this work and the continuing strong performance of the business the director is comfortable that the company has the resources it requires to thrive for the foreseeable future.

METSTONE LIMITED (REGISTERED NUMBER: 08117336)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
Additions 87,136
At 30 June 2023 87,136
DEPRECIATION
Charge for year 4,357
At 30 June 2023 4,357
NET BOOK VALUE
At 30 June 2023 82,779

5. FIXED ASSET INVESTMENTS

The amount disclosed in the accounts at the year end date represents loan finance provided to unrelated companies. Interest received on the loan finance during the year is disclosed as income in the company's profit and loss account.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,325,000
NET BOOK VALUE
At 30 June 2023 1,325,000
At 30 June 2022 1,325,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2016 320,000
Valuation in 2021 (55,000 )
Cost 1,060,000
1,325,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,060,000 1,060,000

In the director's opinion, the value of the property at the year end was £1,325,000.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 183 347

METSTONE LIMITED (REGISTERED NUMBER: 08117336)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax - 14,697
VAT 785 709
Shareholders loan 990,705 990,705
Directors' current accounts 3,031 2,682
Accrued expenses 10,068 8,318
1,004,589 1,017,111

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 659,800 659,800

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 659,800 659,800

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 659,800 659,800

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
180 Ordinary 1 180 180

12. ULTIMATE CONTROLLING PARTY

There is no single ultimate controlling party.