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REGISTERED NUMBER: 11924423 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Metyis UK Ltd

Metyis UK Ltd (Registered number: 11924423)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Metyis UK Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A N Patel
Metyis UK Holding Ltd





REGISTERED OFFICE: 28 Commercial Street
1st Floor
London
E1 6LS





REGISTERED NUMBER: 11924423 (England and Wales)





ACCOUNTANTS: Andrea Law Chartered Accountant
Sandrock Farmhouse
Limes Lane
Buxted
Uckfield
East Sussex
TN22 4PE

Metyis UK Ltd (Registered number: 11924423)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 513,240 220,212
Tangible assets 5 44,977 82,219
558,217 302,431

CURRENT ASSETS
Debtors 6 1,626,506 1,272,126
Cash at bank 505,455 10,931
2,131,961 1,283,057
CREDITORS
Amounts falling due within one year 7 612,616 463,269
NET CURRENT ASSETS 1,519,345 819,788
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,077,562

1,122,219

CREDITORS
Amounts falling due after more than one year 8 3,881,011 2,835,071
NET LIABILITIES (1,803,449 ) (1,712,852 )

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 99,900 99,900
Retained earnings (1,903,449 ) (1,812,852 )
(1,803,449 ) (1,712,852 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Metyis UK Ltd (Registered number: 11924423)

Balance Sheet - continued
31 December 2023


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 27 August 2024 and were signed on its behalf by:





A N Patel - Director


Metyis UK Ltd (Registered number: 11924423)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Metyis UK 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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 etc - 33% on cost, 25% on reducing balance and 20% on cost

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.

Metyis UK Ltd (Registered number: 11924423)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 244,680
Additions 347,996
At 31 December 2023 592,676
AMORTISATION
At 1 January 2023 24,468
Charge for year 54,968
At 31 December 2023 79,436
NET BOOK VALUE
At 31 December 2023 513,240
At 31 December 2022 220,212

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 155,989
Additions 1,541
At 31 December 2023 157,530
DEPRECIATION
At 1 January 2023 73,770
Charge for year 38,783
At 31 December 2023 112,553
NET BOOK VALUE
At 31 December 2023 44,977
At 31 December 2022 82,219

Metyis UK Ltd (Registered number: 11924423)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 848,352 445,039
Other debtors 55,353 155,274
903,705 600,313

Amounts falling due after more than one year:
Other debtors 722,801 671,813

Aggregate amounts 1,626,506 1,272,126

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 252 79,237
Taxation and social security 275,192 254,726
Other creditors 337,172 129,306
612,616 463,269

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 3,881,011 2,835,071