Acorah Software Products - Accounts Production 16.0.110 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04806984 Mr Julio Rocha iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04806984 2022-12-31 04806984 2023-12-31 04806984 2023-01-01 2023-12-31 04806984 frs-core:CurrentFinancialInstruments 2023-12-31 04806984 frs-core:Non-currentFinancialInstruments 2023-12-31 04806984 frs-core:FurnitureFittings 2023-12-31 04806984 frs-core:FurnitureFittings 2023-01-01 2023-12-31 04806984 frs-core:FurnitureFittings 2022-12-31 04806984 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 04806984 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04806984 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-12-31 04806984 frs-core:MotorVehicles 2023-01-01 2023-12-31 04806984 frs-core:PlantMachinery 2023-12-31 04806984 frs-core:PlantMachinery 2023-01-01 2023-12-31 04806984 frs-core:PlantMachinery 2022-12-31 04806984 frs-core:ShareCapital 2023-12-31 04806984 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04806984 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04806984 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04806984 frs-bus:SmallEntities 2023-01-01 2023-12-31 04806984 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04806984 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04806984 frs-bus:Director1 2023-01-01 2023-12-31 04806984 frs-countries:EnglandWales 2023-01-01 2023-12-31 04806984 2021-12-31 04806984 2022-12-31 04806984 2022-01-01 2022-12-31 04806984 frs-core:CurrentFinancialInstruments 2022-12-31 04806984 frs-core:Non-currentFinancialInstruments 2022-12-31 04806984 frs-core:ShareCapital 2022-12-31 04806984 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 04806984 frs-core:CurrentFinancialInstruments 5 2022-12-31
Registered number: 04806984
Metro Piazza (London) Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Budhdeo & Tanga
Association of International Accountants
G23 China Works
100 Black Prince Road
London
SE1 7SJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04806984
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 317,581 239,317
317,581 239,317
CURRENT ASSETS
Stocks 5 22,108 20,468
Debtors 6 8,572 51,000
Cash at bank and in hand 291,777 365,913
322,457 437,381
Creditors: Amounts Falling Due Within One Year 7 (161,630 ) (163,089 )
NET CURRENT ASSETS (LIABILITIES) 160,827 274,292
TOTAL ASSETS LESS CURRENT LIABILITIES 478,408 513,609
Creditors: Amounts Falling Due After More Than One Year 8 (201,427 ) (238,795 )
NET ASSETS 276,981 274,814
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 276,979 274,812
SHAREHOLDERS' FUNDS 276,981 274,814
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Julio Rocha
Director
30/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Metro Piazza (London) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04806984 . The registered office is G 23 China Works, 100 Black prince Road, London, SE1 7SJ.
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. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5%
Plant & Machinery 20%
Motor Vehicles 0
Fixtures & Fittings 20%
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
Sales, marketing and distribution 22 14
24 16
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 269,859 62,503 52,146 384,508
Additions 96,992 1,550 4,237 102,779
As at 31 December 2023 366,851 64,053 56,383 487,287
Depreciation
As at 1 January 2023 62,009 39,425 43,757 145,191
Provided during the period 17,065 4,925 2,525 24,515
As at 31 December 2023 79,074 44,350 46,282 169,706
Net Book Value
As at 31 December 2023 287,777 19,703 10,101 317,581
As at 1 January 2023 207,850 23,078 8,389 239,317
Land & property Leasehold - Depreciation is provided on cost at the rate of 5%
5. Stocks
2023 2022
£ £
Materials 22,108 20,468
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,114 -
Prepayments and accrued income 1,458 -
Other debtors - 1,000
Other debtors (5) - 50,000
8,572 51,000
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,943 34,462
Corporation tax 29,099 53,143
Other taxes and social security 43,204 9,454
VAT 46,555 46,889
Accruals and deferred income 8,323 17,054
Director's loan account 12,506 2,087
161,630 163,089
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 201,427 238,795
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 75,000 125,000
A duividend payment of £75000= opaid to director and shareholder
11. Reserves
Reserves of £274812= is after the payment of a dividend 0f £125000=
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