Company registration number SC614079 (Scotland)
Metrol Technology (Nominees) Limited
Unaudited financial statements
for the year ended 30 November 2023
Pages for filing with registrar
Metrol Technology (Nominees) Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Metrol Technology (Nominees) Limited
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Metrol Technology (Nominees) Limited for the year ended 30 November 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the board of directors of Metrol Technology (Nominees) Limited, as a body, in accordance with the terms of our engagement letter dated 19 November 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Metrol Technology (Nominees) Limited and state those matters that we have agreed to state to the board of directors of Metrol Technology (Nominees) Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Metrol Technology (Nominees) Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Metrol Technology (Nominees) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of Metrol Technology (Nominees) Limited. You consider that Metrol Technology (Nominees) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Metrol Technology (Nominees) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
26 July 2024
Metrol Technology (Nominees) Limited
Balance sheet
as at 30 November 2023
2
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
2
8
8
Current assets
-
-
Creditors: amounts falling due within one year
(7)
(7)
Net current liabilities
(7)
(7)
Net assets
1
1
Capital and reserves
-
-
Called up share capital
1
1
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
For the financial year ended 30 November 2023 the company, subject to satisfying conditions, was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies. These conditions include the parent preparing and submitting its own consolidated financial statements within 9 months of its year end.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 July 2024
Compton Ross
Director
Company registration number SC614079 (Scotland)
Metrol Technology (Nominees) Limited
Notes to the financial statements
for the year ended 30 November 2023
3
1
Accounting policies
Company information
Metrol Technology (Nominees) Limited is a private company limited by shares incorporated in Scotland. The registered office is c/o Metrol Technology Limited, Howe Moss Place, Kirkhill Industrial Estate, Dyce, Aberdeen, AB21 0GS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
Metrol Technology (Nominees) Limited
Notes to the financial statements (continued)
for the year ended 30 November 2023
1
Accounting policies (continued)
4
The company, subject to satisfying conditions, is exempt from preparing consolidated financial statements in accordance with Section 400 of the Companies Act 2006. These conditions include the parent preparing and submitting its own consolidated financial statements within 9 months of its year end.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Metrol Technology (Nominees) Limited is a wholly owned subsidiary of Dunwilco (194) Limited and the results of Metrol Technology (Nominees) Limited are included in the consolidated financial statements of Dunwilco (194) Limited which are available from, C/O Metrol Technology Limited, Unit 24 Kirkhill Place, Dyce, Aberdeen, AB2 0GU.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
8
8
3
Parent company
The ultimate parent company of Metrol Technology (Overseas) Limited is Dunwilco (194) Limited and its registered office is, C/O Metrol Technology Limited, Unit 24 Kirkhill Place, Dyce, Aberdeen, AB2 0GU.