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REGISTERED NUMBER: 01513707 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

METAFIN GROUP HOLDINGS LIMITED

METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,426,022 2,478,811

CURRENT ASSETS
Stocks 149,586 237,175
Debtors 5 2,157,765 2,029,567
Cash at bank 522,787 160,826
2,830,138 2,427,568
CREDITORS
Amounts falling due within one year 6 1,398,946 1,574,906
NET CURRENT ASSETS 1,431,192 852,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,857,214

3,331,473

CREDITORS
Amounts falling due after more than one
year

7

(407,645

)

(134,976

)

PROVISIONS FOR LIABILITIES (135,000 ) (150,000 )

ACCRUALS AND DEFERRED INCOME (80,785 ) (98,096 )
NET ASSETS 3,233,784 2,948,401

CAPITAL AND RESERVES
Called up share capital 350,000 350,000
Capital redemption reserve 1,000,000 1,000,000
Retained earnings 1,883,784 1,598,401
SHAREHOLDERS' FUNDS 3,233,784 2,948,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





P D Bundy - Director


METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Metafin Group Holdings Limited is a private company, limited by shares, registered in England and Wales, registered number 01513707. Its registered office is Northcote Street, Walsall, West Midlands, WS2 8BQ.

The financial statements are presented in Sterling, which is the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% straight line
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Freehold Land - No depreciation charged

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is
measured at the present value of the future receipts discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 74 (2023 - 84 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 1,521,600 3,042,661 4,564,261
Additions - 309,266 309,266
Disposals - (135,531 ) (135,531 )
At 29 February 2024 1,521,600 3,216,396 4,737,996
DEPRECIATION
At 1 March 2023 364,072 1,721,378 2,085,450
Charge for year 76,079 233,411 309,490
Eliminated on disposal - (82,966 ) (82,966 )
At 29 February 2024 440,151 1,871,823 2,311,974
NET BOOK VALUE
At 29 February 2024 1,081,449 1,344,573 2,426,022
At 28 February 2023 1,157,528 1,321,283 2,478,811

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,614,827 1,579,369
Amounts owed by group undertakings 359,926 286,606
Other debtors 183,012 163,592
2,157,765 2,029,567

METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 23,574 206,541
Finance leases (see note 8) 45,335 74,563
Trade creditors 838,782 874,204
Taxation and social security 279,284 225,373
Other creditors 211,971 194,225
1,398,946 1,574,906

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 188,405 23,327
Finance leases (see note 8) 219,240 111,649
407,645 134,976

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 110,953 -

8. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 45,335 74,563
Between one and five years 219,240 111,649
264,575 186,212

METAFIN GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 01513707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 211,979 229,868
Finance leases 264,575 186,212
476,554 416,080

Bank loans and overdrafts are secured by means of fixed and floating charges over the assets of the company.

Hire purchase liabilities are secured against the assets financed.