Company Registration No. 09243215 (England and Wales)
Metal Depot Limited
Unaudited accounts
for the year ended 31 March 2024
Metal Depot Limited
Unaudited accounts
Contents
Metal Depot Limited
Company Information
for the year ended 31 March 2024
Directors
Maxim Gil Linstead
Sally Anne Everitt
Company Number
09243215 (England and Wales)
Registered Office
Navigation Lane
Lock Lane
Castleford
West Yorkshire
WF10 2LA
UK
Metal Depot Limited
Statement of financial position
as at 31 March 2024
Tangible assets
121,386
124,487
Inventories
166,705
166,676
Cash at bank and in hand
40,749
56,907
Creditors: amounts falling due within one year
(1,245,475)
(1,154,463)
Net current liabilities
(48,250)
(119,239)
Total assets less current liabilities
73,137
5,249
Provisions for liabilities
Profit and loss account
50,073
5,249
Shareholders' funds
50,073
5,249
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 11 July 2024 and were signed on its behalf by
Maxim Gil Linstead
Director
Company Registration No. 09243215
Metal Depot Limited
Notes to the Accounts
for the year ended 31 March 2024
Metal Depot Limited is a private company, limited by shares, registered in England and Wales, registration number 09243215. The registered office is Navigation Lane, Lock Lane, Castleford, West Yorkshire, WF10 2LA, UK.
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.
These financial statements for the year ended 31 March 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
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.
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:
Plant & machinery
5 Years - Straight Line
Computer equipment
2 Years - Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
Metal Depot Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
151,239
2,228
153,467
At 31 March 2024
171,053
2,228
173,281
At 1 April 2023
27,618
1,362
28,980
Charge for the year
22,360
555
22,915
At 31 March 2024
49,978
1,917
51,895
At 31 March 2024
121,075
311
121,386
At 31 March 2023
123,621
866
124,487
Amounts falling due within one year
Trade debtors
953,658
625,606
Accrued income and prepayments
33,024
156,381
Other debtors
3,089
29,654
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
225,000
50,000
Obligations under finance leases and hire purchase contracts
21,031
-
Trade creditors
325,628
452,707
Taxes and social security
98,123
137,598
Other creditors
320,610
301,660
Loans from directors
91,893
112,456
8
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
5,164
-
Later than one year and not later than five years
18,119
-
Metal Depot Limited
Notes to the Accounts
for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 22 (2023: 24).