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REGISTERED NUMBER: 05155756 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Metconnect Ltd

Metconnect Ltd (Registered number: 05155756)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Metconnect Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs N Syddall
C Gould
G E Martin





SECRETARY: Mrs N Syddall





REGISTERED OFFICE: Metconnect House
Junction 22 Business Park
Tweedale Way, Hollinwood
Oldham
Lancashire
OL9 7LD





REGISTERED NUMBER: 05155756 (England and Wales)





ACCOUNTANTS: Lomas and Company Accountants Limited
Bridge House
12 Market Street
Glossop
Derbyshire
SK13 8AR

Metconnect Ltd (Registered number: 05155756)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,612 29,202

CURRENT ASSETS
Stocks 5 160,939 146,333
Debtors 6 214,989 181,240
Cash in hand 154 44
376,082 327,617
CREDITORS
Amounts falling due within one year 7 267,318 239,186
NET CURRENT ASSETS 108,764 88,431
TOTAL ASSETS LESS CURRENT LIABILITIES 135,376 117,633

CREDITORS
Amounts falling due after more than one year 8 (23,259 ) (33,193 )

PROVISIONS FOR LIABILITIES (5,056 ) (5,548 )
NET ASSETS 107,061 78,892

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 107,059 78,890
SHAREHOLDERS' FUNDS 107,061 78,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





Mrs N Syddall - Director


Metconnect Ltd (Registered number: 05155756)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Metconnect 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.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

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 10 (2023 - 10 ) .

Metconnect Ltd (Registered number: 05155756)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 50,851 29,449 12,999 93,299
Additions 2,959 581 - 3,540
Disposals (4,714 ) - - (4,714 )
At 31 March 2024 49,096 30,030 12,999 92,125
DEPRECIATION
At 1 April 2023 33,697 19,715 10,685 64,097
Charge for year 2,322 1,547 578 4,447
Eliminated on disposal (3,031 ) - - (3,031 )
At 31 March 2024 32,988 21,262 11,263 65,513
NET BOOK VALUE
At 31 March 2024 16,108 8,768 1,736 26,612
At 31 March 2023 17,154 9,734 2,314 29,202

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 160,939 146,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 158,233 180,480
Other debtors 749 760
Merkle (UK) Ltd loan 56,007 -
214,989 181,240

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 29,892 12,022
Trade creditors 197,876 186,183
Merkle (UK) Ltd loan - 3,031
Tax 8,537 4,673
Social security and other taxes 7,842 6,380
VAT 11,640 23,270
Accrued expenses 11,531 3,627
267,318 239,186

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 23,259 33,193

9. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr A Sydall and Mrs N Sydall by virtue of their shareholding.