METEOR MINING COMPANY LTD

Company Registration Number:
12965751 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

METEOR MINING COMPANY LTD

Contents of the Financial Statements

for the Period Ended 31 October 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

METEOR MINING COMPANY LTD

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Principal activities of the company

Mining Investment Holdings Mining Investment Financing Mining Technical Services



Directors

The director shown below has held office during the whole of the period from
1 November 2023 to 31 October 2024

John Falcon


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 November 2024

And signed on behalf of the board by:
Name: John Falcon
Status: Director

METEOR MINING COMPANY LTD

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Called up share capital not paid: 8,000,000 5,000,000
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 2,207 2,207
Investments:   0 0
Total fixed assets: 2,207 2,207
Current assets
Stocks: 4 30,000
Debtors: 5 8,000,000 850,098
Cash at bank and in hand: 6,500
Investments: 6 4,113,402
Total current assets: 8,000,000 5,000,000
Prepayments and accrued income: 0 0
Net current assets (liabilities): 8,000,000 5,000,000
Total assets less current liabilities: 16,002,207 10,002,207
Creditors: amounts falling due after more than one year: 7 ( 1,500,000 ) ( 2,152,305 )
Provision for liabilities: ( 6,502,207 ) ( 2,849,902 )
Accruals and deferred income: 0 0
Total net assets (liabilities): 8,000,000 5,000,000
Capital and reserves
Called up share capital: 8,000,000 5,000,000
Share premium account: 0 0
Other reserves: 0 0
Profit and loss account: 0 0
Total Shareholders' funds: 8,000,000 5,000,000

The notes form part of these financial statements

METEOR MINING COMPANY LTD

Balance sheet statements

For the year ending 31 October 2024 the company was entitled to exemption 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 5 November 2024
and signed on behalf of the board by:

Name: John Falcon
Status: Director

The notes form part of these financial statements

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 3

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 2,456 2,456
Additions
Disposals
Revaluations
Transfers
At 31 October 2024 2,456 2,456
Depreciation
At 1 November 2023 249 249
Charge for year
On disposals
Other adjustments
At 31 October 2024 249 249
Net book value
At 31 October 2024 2,207 2,207
At 31 October 2023 2,207 2,207

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Stocks

2024 2023
£ £
Stocks 30,000
Total   30,000

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Debtors

2024 2023
£ £
Other debtors 8,000,000 850,098
Total 8,000,000 850,098

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

6. Current assets investments note

Current Assets netted to USD 7,500,000 in 2024 accounting policy based on amortized interest and cost of leases at 31st December 2023 and to 31st October 2024 and Q4 to 31st December 2024

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 1,500,000 2,152,305
Total 1,500,000 2,152,305

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

8. Financial Commitments

Net liabilities after discounting USD 3,250,000 Net Valuation after write offs USD 10,000,000 Directors Loan including interest USD 14,078,626 to 31st October 2024 Net losses for 2020/2021/2022/2023/2024 carried forward into tax year 2024/2025

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

9. Loans to directors

Name of director receiving advance or credit: John Falcon
Description of the transaction:
Seed capital injection for investment in Meteor Mining Company KZ Limited (KZ) in the form of an approved managed high interest loan agreement
£
Balance at 31 October 2023 10,579,641
Advances or credits made: 3,498,985
Advances or credits repaid:
Balance at 31 October 2024 14,078,626

The Directors loan account has a first-call warrant on funds received on sales of investment properties.

METEOR MINING COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 October 2024

10. Off balance sheet arrangements

Negotiated Discounts with Creditors