Company Registration No. 07554123 (England and Wales)
METIS HR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
31 March 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
METIS HR LTD
COMPANY INFORMATION
Director
Mrs A J Driver
Secretary
Mrs A J Driver
Company number
07554123
Registered office
216 Newchurch Road
Stacksteads
Bacup
OL13 0TS
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
METIS HR LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
METIS HR LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,215
10,306
Current assets
Debtors
5
35,380
28,937
Cash at bank and in hand
92,011
90,254
127,391
119,191
Creditors: amounts falling due within one year
6
(39,250)
(28,375)
Net current assets
88,141
90,816
Total assets less current liabilities
98,356
101,122
Creditors: amounts falling due after more than one year
7
(8,214)
(15,066)
Provisions for liabilities
(2,351)
(1,958)
Net assets
87,791
84,098
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
87,790
84,097
Total equity
87,791
84,098
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 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
METIS HR LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 October 2024
Mrs A J Driver
Director
Company registration number 07554123 (England and Wales)
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Metis HR Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 216 Newchurch Road, Stacksteads, Bacup, OL13 0TS.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets other than goodwill
Trade marks have been fully written off over the estimated useful life of 3 years.
1.4
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:
Fixtures and fittings
25% on reducing balance
Computer equipment
33% on reducing balance
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Intangible fixed assets
Trade mark
£
Cost
At 1 April 2023 and 31 March 2024
170
Amortisation and impairment
At 1 April 2023 and 31 March 2024
170
Carrying amount
At 31 March 2024
At 31 March 2023
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2023
19,527
6,076
25,603
Additions
1,921
1,485
3,406
At 31 March 2024
21,448
7,561
29,009
Depreciation and impairment
At 1 April 2023
12,080
3,217
15,297
Depreciation charged in the year
2,185
1,312
3,497
At 31 March 2024
14,265
4,529
18,794
Carrying amount
At 31 March 2024
7,183
3,032
10,215
At 31 March 2023
7,447
2,859
10,306
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
33,814
26,562
Other debtors
1,566
2,375
35,380
28,937
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,852
6,683
Taxation and social security
29,736
19,357
Other creditors
2,662
2,335
39,250
28,375
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,214
15,066
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
8
Operating lease commitments
Lessee
At the year end the company was committed to paying premises rent of £78,375 (2023- £87,875).