Company registration number:
13832958
Meta Housing Limited
Unaudited filleted financial statements
31 January 2024
Meta Housing Limited
Contents
Statement of financial position
Notes to the financial statements
Meta Housing Limited
Statement of financial position
31 January 2024
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31/01/24 |
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31/01/23 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
339,343 |
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339,343 |
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_______ |
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_______ |
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339,343 |
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339,343 |
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Current assets |
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Debtors |
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6 |
100 |
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100 |
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Cash at bank and in hand |
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1,599 |
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7,564 |
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_______ |
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_______ |
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1,699 |
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7,664 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
105,245) |
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(
103,645) |
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_______ |
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_______ |
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Net current liabilities |
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(
103,546) |
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(
95,981) |
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_______ |
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_______ |
Total assets less current liabilities |
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235,797 |
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243,362 |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
243,340) |
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(
243,340) |
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_______ |
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_______ |
Net (liabilities)/assets |
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(
7,543) |
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22 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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9 |
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100 |
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100 |
Profit and loss account |
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(
7,643) |
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(
78) |
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_______ |
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_______ |
Shareholders (deficit)/funds |
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(
7,543) |
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22 |
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_______ |
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_______ |
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 October 2024
, and are signed on behalf of the board by:
Mr P D Glynn
Director
Company registration number:
13832958
Meta Housing Limited
Notes to the financial statements
Year ended 31 January 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's balance sheet shows an adverse position at £7,543. Other creditors includes loans received from the director and connected companies. The director does not expect repayment, until such time as Meta Housing Limited has sufficient funds available to make the repayments without adversely affecting the company's ability to continue to trade. For these reasons the director believes the company will continue to trade for the foreseeable future.
Turnover
Turnover represents rental income included in the accounts on a receivable basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
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Long leasehold property |
Total |
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£ |
£ |
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Cost |
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At 1 February 2023 and 31 January 2024 |
339,343 |
339,343 |
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_______ |
_______ |
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Depreciation |
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At 1 February 2023 and 31 January 2024 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 January 2024 |
339,343 |
339,343 |
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_______ |
_______ |
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At 31 January 2023 |
339,343 |
339,343 |
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_______ |
_______ |
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6.
Debtors
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31/01/24 |
31/01/23 |
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£ |
£ |
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Other debtors |
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100 |
100 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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31/01/24 |
31/01/23 |
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£ |
£ |
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Other creditors |
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105,245 |
103,645 |
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_______ |
_______ |
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8.
Creditors: amounts falling due after more than one year
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31/01/24 |
31/01/23 |
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£ |
£ |
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Bank loans and overdrafts |
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243,340 |
243,340 |
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_______ |
_______ |
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Included within creditors are bank loans totalling £243,340 (2023: £243,340). These loans are secured on the properties to which they relate to.
9.
Called up share capital
Issued, called up and fully paid
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31/01/24 |
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31/01/23 |
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No |
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£ |
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No |
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£ |
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Ordinary shares of £
1.00 each |
|
100 |
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100 |
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100 |
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100 |
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_______ |
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_______ |
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_______ |
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_______ |
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