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REGISTERED NUMBER: 04352931 (England and Wales)








Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Metal Solutions (SW) Limited

Metal Solutions (SW) Limited (Registered number: 04352931)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Metal Solutions (SW) Limited (Registered number: 04352931)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,868 72,788
Investments 5 181,168 -
233,036 72,788

CURRENT ASSETS
Stocks 59,606 65,900
Debtors 6 302,507 162,047
Cash at bank and in hand 90,925 386,208
453,038 614,155
CREDITORS
Amounts falling due within one year 7 51,200 46,560
NET CURRENT ASSETS 401,838 567,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

634,874

640,383

PROVISIONS FOR LIABILITIES 9,855 13,829
NET ASSETS 625,019 626,554

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 624,019 625,554
SHAREHOLDERS' FUNDS 625,019 626,554

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





C F Kalas - Director


Metal Solutions (SW) Limited (Registered number: 04352931)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Metal Solutions (SW) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04352931

Registered office: Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of service provided under contract to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date, turnover represents the value of the service provided to date as a proportion of total anticipated consideration.

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 - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Listed Investments are measured at fair value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Metal Solutions (SW) Limited (Registered number: 04352931)

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

2. ACCOUNTING POLICIES - continued

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 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 317,572
Additions 1,498
Disposals (85,788 )
At 31 December 2023 233,282
DEPRECIATION
At 1 January 2023 244,784
Charge for year 15,430
Eliminated on disposal (78,800 )
At 31 December 2023 181,414
NET BOOK VALUE
At 31 December 2023 51,868
At 31 December 2022 72,788

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
Additions 150,000
Share of profit/(loss) 12,433
Revaluations 15,857
Dividends received 2,878
At 31 December 2023 181,168
NET BOOK VALUE
At 31 December 2023 181,168

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 16,150
Cost 165,018
181,168

Metal Solutions (SW) Limited (Registered number: 04352931)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 108,840 129,654
Other debtors 193,667 32,393
302,507 162,047

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 13,845 18,401
Taxation and social security 29,338 21,853
Other creditors 8,017 6,306
51,200 46,560

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
C F Kalas
Balance outstanding at start of year - -
Amounts advanced 153,014 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 153,014 -

The loan is repayable on demand. Interest has been charged at the HMRC official rate.