Company registration number 10189271 (England and Wales)
METZGER & SOHNE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
METZGER & SOHNE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
METZGER & SOHNE LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
31 January 2024
31 October 2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
157
209
Tangible assets
4
2,461
2,676
Investments
5
62,644
60,053
65,262
62,938
Current assets
Stocks
296
1,600
Debtors
6
13,939
729
Cash at bank and in hand
28,090
6,239
42,325
8,568
Creditors: amounts falling due within one year
7
(125,999)
(94,337)
Net current liabilities
(83,674)
(85,769)
Total assets less current liabilities
(18,412)
(22,831)
Creditors: amounts falling due after more than one year
8
(91,000)
(91,000)
Net liabilities
(109,412)
(113,831)
Capital and reserves
Called up share capital
9
10,526
10,526
Profit and loss reserves
(119,938)
(124,357)
Total equity
(109,412)
(113,831)
METZGER & SOHNE LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 2 -

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

For the financial period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 period 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.

The financial statements were approved by the board of directors and authorised for issue on 21 October 2024 and are signed on its behalf by:
L Linsbichler
Director
Company registration number 10189271 (England and Wales)
METZGER & SOHNE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

Metzger & Sohne Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 89 Woodville Road, London, England, E18 1JT.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

Total liabilities exceed current assets at the balance sheet date. The directors consider however that the company has sufficient liquid assets to meet its liabilities as and when they fall due and that the company has sufficient support from its directors, shareholders and creditors. Accordingly the directors consider that it is appropriate to prepare the accounts on a going concern basis.

1.3
Reporting period

The previous accounting year was a 12 month period ending 31 October 2022 as compared to current year which is a 15 month period ending 31 January 2024. Periods are therefore not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Intangible assets comprise of sums paid for brand assets such as the use of the "Metzger" name, corporate client lists and the exclusive right to use the history, heritage and tradition of the company. These assets are defined as having finite useful lives and the costs are amortised on a straight line basis over their estimated useful lives of 5 years.

METZGER & SOHNE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Brand assets
5 years, 10 years Straight line
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the lease period
Fixtures and fittings
33.33% Straight line
Computers
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
Cash at bank and in hand

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.

METZGER & SOHNE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2024
2022
Number
Number
2
2
3
Intangible fixed assets
Brand assets
£
Cost
At 1 November 2022 and 31 January 2024
6,867
Amortisation and impairment
At 1 November 2022
6,658
Amortisation charged for the period
52
At 31 January 2024
6,710
Carrying amount
At 31 January 2024
157
At 31 October 2022
209
METZGER & SOHNE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
5,260
5,741
11,001
Additions
-
0
1,800
1,800
Disposals
-
0
(1,347)
(1,347)
At 31 January 2024
5,260
6,194
11,454
Depreciation and impairment
At 1 November 2022
5,166
3,159
8,325
Depreciation charged in the period
94
1,921
2,015
Eliminated in respect of disposals
-
0
(1,347)
(1,347)
At 31 January 2024
5,260
3,733
8,993
Carrying amount
At 31 January 2024
-
0
2,461
2,461
At 31 October 2022
94
2,582
2,676
5
Fixed asset investments
2024
2022
£
£
Shares in group undertakings and participating interests
62,644
60,053
Fixed asset investments revalued

The directors consider that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.

6
Debtors
2024
2022
Amounts falling due within one year:
£
£
Trade debtors
13,260
-
0
Amounts owed by group undertakings
-
0
530
Other debtors
679
199
13,939
729
METZGER & SOHNE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2022
£
£
Amounts owed to group undertakings
15,780
-
0
Taxation and social security
73
162
Other creditors
86,961
71,390
Accruals and deferred income
23,185
22,785
125,999
94,337

 

8
Creditors: amounts falling due after more than one year
2024
2022
£
£
Other creditors
91,000
91,000
9
Called up share capital
2024
2022
£
£
Ordinary share capital
Issued and fully paid
105,263 Ordinary shares of 10p each
10,526
10,526
10
Related party transactions

At the year-end, the company owed £175,548 (2022 - £162,318) to its directors, in respect of an interest free loan which is repayable on demand.

 

At the year-end, the company owed £15,780 (2022 - £530 owed by) to Metzger & Sohne GmbH, its fully owned subsidiary operating in Austria, in respect of an interest free loan which is repayable on demand.

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