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Registered number: 12337159
Metro 1 Travel And Technology Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Paul Beare Ltd
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Company Information
Director Mr James Dunne
Secretary Mr Paul Beare
Company Number 12337159
Registered Office 49 Greek Street
London
W1D 4EG
Accountants Paul Beare Ltd
49 Greek Street
London
Greater London
W1D 4EG
Metro 1 Travel and Technology Ltd is 100% owned by Metro 1 Travel and Technology PTY Ltd registered in NSW Australia.
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Page 2
Balance Sheet
Registered number: 12337159
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 822 172
Cash at bank and in hand 1,064 219
1,886 391
Creditors: Amounts Falling Due Within One Year 5 (197,914 ) (25,549 )
NET CURRENT ASSETS (LIABILITIES) (196,028 ) (25,158 )
TOTAL ASSETS LESS CURRENT LIABILITIES (196,028 ) (25,158 )
NET LIABILITIES (196,028 ) (25,158 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (196,128 ) (25,258 )
SHAREHOLDERS' FUNDS (196,028) (25,158)
For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Dunne
Director
13/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Metro 1 Travel And Technology Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12337159 . The registered office is 49 Greek Street, London, W1D 4EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The company has net liabilities of £196,028 and net losses of £170,870. The directors have obtained confirmation from the parent company that it will continue to support the company and provide adequate funding to enable it to meet its obligations for the forseeable future, being a period of at least twelve months from the date of approval of the financial statements.
The Directors have considered the financial position of the parent company and consider that the parent company is able to provide financial support as and when required. The Directors consider the parent company's assessment to be reasonable and therefore have provided the financial statements on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Debtors
2023 2022
£ £
Due within one year
VAT 822 172
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,700 -
Other taxes and social security 915 411
Pensions Due 219 65
Accruals and deferred income 1,400 1,250
Amounts owed to group undertakings 191,680 23,823
197,914 25,549
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6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
7. Pension Commitments
The company operates a defined contribution pension scheme for its employees. A defined contribution plan under which the Company pays fixed contributions to a seperate entity. Once payments are made the company has no further payment obligations.
The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £219 (PY £65) were due to the fund. They are included in Other Creditors.
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