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Company No: 13728363 (England and Wales)

METAVERSE ADVISORS LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

METAVERSE ADVISORS LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

METAVERSE ADVISORS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
METAVERSE ADVISORS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 4 0 8,691
Tangible assets 5 4,730 2,722
4,730 11,413
Current assets
Cash at bank and in hand 6 36,015 69,581
36,015 69,581
Creditors: amounts falling due within one year 7 ( 2,761) ( 26,595)
Net current assets 33,254 42,986
Total assets less current liabilities 37,984 54,399
Net assets 37,984 54,399
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 37,884 54,299
Total shareholder's funds 37,984 54,399

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Metaverse Advisors Limited (registered number: 13728363) were approved and authorised for issue by the Director. They were signed on its behalf by:

A Challans
Director

10 August 2024

METAVERSE ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
METAVERSE ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Metaverse Advisors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Dividends on equity shares

2023 2022
£ £
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 30 November 2023 of £82 (2022: £380) per ordinary share 8,200 38,000

4. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 December 2022 18,985 18,985
Disposals ( 18,985) ( 18,985)
At 30 November 2023 0 0
Accumulated amortisation
At 01 December 2022 10,294 10,294
Disposals ( 10,294) ( 10,294)
At 30 November 2023 0 0
Net book value
At 30 November 2023 0 0
At 30 November 2022 8,691 8,691

5. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 3,374 3,374
Additions 3,007 3,007
At 30 November 2023 6,381 6,381
Accumulated depreciation
At 01 December 2022 652 652
Charge for the financial year 999 999
At 30 November 2023 1,651 1,651
Net book value
At 30 November 2023 4,730 4,730
At 30 November 2022 2,722 2,722

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 36,015 69,581

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 0 23,245
Other creditors 2,761 3,350
2,761 26,595

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Other creditors 61 350

Included within creditors is an amount of £61 (2022: £350) due to the company director. The balance is unsecured, interest free and repayable upon demand.