REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
for |
Metamercat Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
for |
Metamercat Limited |
Metamercat Limited (Registered number: 12470792) |
Contents of the Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Metamercat Limited |
Company Information |
for the Period 1 March 2023 to 31 December 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
120 New Cavendish Street, |
London |
W1W 6XX |
Metamercat Limited (Registered number: 12470792) |
Balance Sheet |
31 December 2023 |
31.12.23 | 28.2.23 |
Notes | £ | £ |
Fixed assets |
Investments | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements |
for the Period 1 March 2023 to 31 December 2023 |
1. | Statutory information |
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 111 Park Street, London, England, W1K 7JF. |
The company's principal activity is that of a trading and business intermediary for related parties. |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 December 2023 |
3. | Accounting policies - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Going concern |
The Company's ultimate shareholders continue to provide financial support to the company, which the director is confident will continue for a period of not less than twelve months from the date of approval of the financial statements. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. |
4. | Employees and directors |
The average number of employees during the period was |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 March 2023 |
and 31 December 2023 |
Net book value |
At 31 December 2023 |
At 28 February 2023 |
During the prior period the company acquired 100% of the issued share capital in Mercat Minero Ibericos SL, a company incorporated in Barcelona, Spain. |
6. | Debtors: amounts falling due within one year |
31.12.23 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
31.12.23 | 28.2.23 |
£ | £ |
Trade creditors |
Other creditors |
Accruals and deferred income |
Metamercat Limited (Registered number: 12470792) |
Notes to the Financial Statements - continued |
for the Period 1 March 2023 to 31 December 2023 |
8. | Related party disclosures |
RCM Trust |
During the period the company had the following transactions with the RCM Trust a shareholder in Metamercat Limited: |
31.12.23 | 28.02.23 |
£ | £ |
Balance brought forward | 77,296 | 38,870 |
Monies advanced to the company by The RCM Trust | 20,220 | 38,426 |
Balance owed to The RCM Trust carried forward | 97,516 | 77,296 |
The above loan is interest fee, unsecured and repayable on demand. |
UMA Wealth (UK) Limited |
During the period the company had the following transactions with UMA Wealth (UK) Limited, a company controlled by the Director A U Becerra Rojas: |
31.12.23 | 28.02.23 |
£ | £ |
Prepayment brought forward | 7,500 | 4,550 |
Administration services invoiced by UMA Wealth (UK) Limited in period | 19,125 | 16,926 |
Prepayment carried forward | (7,500 | ) | (7,500 | ) |
Administration services received in period | 19,125 | 13,976 |
As at 31 December 2023, £6,298 was owed to UMA Wealth (UK) Limited in respect to administration services received. (28.02.23 - £Nil). |
Mariano Pero |
During the period the company had the following transactions with Mariano Pero the settlor of The RCM Trust, and the ultimate controlling party of the company: |
31.12.23 | 28.02.23 |
£ | £ |
Consultancy fees received | 19,980 | - |
Consultancy fees owed to Mariano Pero carried forward | 19,980 | - |
9. | Ultimate controlling party |
During the period the director regarded Mariano Pero the settlor of The RCM Trust, as the ultimate controlling party of the company. |