Company registration number 13061461 (England and Wales)
METANEW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
METANEW LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
METANEW LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
FIXED ASSETS
Investments
3
100,000
114,763
CURRENT ASSETS
Debtors
4
806
806
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(150,393)
(120,119)
NET CURRENT LIABILITIES
(149,587)
(119,313)
NET LIABILITIES
(49,587)
(4,550)
CAPITAL AND RESERVES
Called up share capital
300
300
Profit and loss reserves
(49,887)
(4,850)
TOTAL EQUITY
(49,587)
(4,550)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

METANEW LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 September 2024
Roger Pugsley
Director
Company registration number 13061461 (England and Wales)
METANEW LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
BALANCE AT 1 JANUARY 2022
100
(2,908)
(2,808)
YEAR ENDED 31 DECEMBER 2022:
Loss and total comprehensive income
-
(1,942)
(1,942)
Bonus issue of shares
200
-
0
200
BALANCE AT 31 DECEMBER 2022
300
(4,850)
(4,550)
YEAR ENDED 31 DECEMBER 2023:
Loss and total comprehensive income
-
(45,037)
(45,037)
BALANCE AT 31 DECEMBER 2023
300
(49,887)
(49,587)
METANEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
ACCOUNTING POLICIES
Company information

Metanew Limited is a private company limited by shares incorporated in England and Wales. The registered office is 281 Penarth Road, Cardiff, CF11 8YZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts show that the company had net liabilities of £49,587 at the balance sheet date. The director has therefore had to consider the appropriateness of the going concern basis.

The company has been able to finance its operations largely because of support from the director. Were this support not available, the company may not be able to continue trading.

The director is confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. The director therefore considers it appropriate to prepare the accounts on the going concern basis.

 

1.3
Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less impairment losses.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

METANEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
FIXED ASSET INVESTMENTS
2023
2022
£
£
Other investments other than loans
100,000
114,763
MOVEMENTS IN FIXED ASSET INVESTMENTS
Other
£
Cost or valuation
At 1 January 2023
114,763
Additions
28,432
At 31 December 2023
143,195
Impairment
At 1 January 2023
-
Impairment losses
43,195
At 31 December 2023
43,195
Carrying amount
At 31 December 2023
100,000
At 31 December 2022
114,763
METANEW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
DEBTORS
2023
2022
Amounts falling due within one year:
£
£
Other debtors
200
200
Deferred tax asset
606
606
806
806
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Other creditors
150,393
120,119
6
RELATED PARTY TRANSACTIONS
2023
2022
Amounts due to related parties
£
£
Key management personnel
-
118,130
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