Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-2922023-03-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01267091 2023-03-01 2024-02-29 01267091 2022-03-01 2023-02-28 01267091 2024-02-29 01267091 2023-02-28 01267091 c:Director3 2023-03-01 2024-02-29 01267091 d:FurnitureFittings 2023-03-01 2024-02-29 01267091 d:FurnitureFittings 2024-02-29 01267091 d:FurnitureFittings 2023-02-28 01267091 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01267091 d:OfficeEquipment 2023-03-01 2024-02-29 01267091 d:OfficeEquipment 2024-02-29 01267091 d:OfficeEquipment 2023-02-28 01267091 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01267091 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01267091 d:Goodwill 2023-03-01 2024-02-29 01267091 d:Goodwill 2024-02-29 01267091 d:Goodwill 2023-02-28 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-01 2024-02-29 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 01267091 d:CurrentFinancialInstruments 2024-02-29 01267091 d:CurrentFinancialInstruments 2023-02-28 01267091 d:Non-currentFinancialInstruments 2024-02-29 01267091 d:Non-currentFinancialInstruments 2023-02-28 01267091 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 01267091 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01267091 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 01267091 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 01267091 d:ShareCapital 2024-02-29 01267091 d:ShareCapital 2023-02-28 01267091 d:CapitalRedemptionReserve 2024-02-29 01267091 d:CapitalRedemptionReserve 2023-02-28 01267091 d:RetainedEarningsAccumulatedLosses 2024-02-29 01267091 d:RetainedEarningsAccumulatedLosses 2023-02-28 01267091 c:OrdinaryShareClass1 2023-03-01 2024-02-29 01267091 c:OrdinaryShareClass1 2024-02-29 01267091 c:OrdinaryShareClass1 2023-02-28 01267091 c:FRS102 2023-03-01 2024-02-29 01267091 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 01267091 c:FullAccounts 2023-03-01 2024-02-29 01267091 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 01267091 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 01267091 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 01267091 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-29 01267091 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-03-01 2024-02-29 01267091 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01267091









MET-CHECK LIMITED

FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024







































 
MET-CHECK LIMITED
REGISTERED NUMBER: 01267091

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
76

Tangible assets
 5 
58
72

  
58
148

Current assets
  

Stocks
 6 
57,338
49,750

Debtors: amounts falling due within one year
 7 
72,116
104,123

Cash at bank and in hand
 8 
94,546
78,781

  
224,000
232,654

Creditors: amounts falling due within one year
 9 
(18,824)
(24,515)

Net current assets
  
 
 
205,176
 
 
208,139

Total assets less current liabilities
  
205,234
208,287

Creditors: amounts falling due after more than one year
 10 
(47,585)
(55,355)

Provisions for liabilities
  

Deferred tax
 11 
(14)
(18)

  
 
 
(14)
 
 
(18)

Net assets
  
157,635
152,914


Capital and reserves
  

Called up share capital 
 12 
77
77

Capital redemption reserve
  
25
25

Profit and loss account
  
157,533
152,812

  
157,635
152,914


Page 1

 
MET-CHECK LIMITED
REGISTERED NUMBER: 01267091
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
I E Cunningham
Director

Date: 27 November 2024


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Met-Check Limited is a private company limited by shares and is incorporated in England and Wales.
The address of its registered office is Greenwood House, Greenwood Court, Skyliner Way, Bury St Edmunds, Suffolk, IP32 7GY.
The principal activity of the company is that of retailer of weather instrumentation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Page 3

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years
Trademarks
-
10
years

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20% reducing balance
Office equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Intangible assets






Trademarks
Goodwill
Total

£
£
£



Cost


At 1 March 2023
760
40,000
40,760



At 29 February 2024

760
40,000
40,760



Amortisation


At 1 March 2023
684
40,000
40,684


Charge for the year on owned assets
76
-
76



At 29 February 2024

760
40,000
40,760



Net book value



At 29 February 2024
-
-
-



At 28 February 2023
76
-
76



Page 6

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
570
601
1,171



At 29 February 2024

570
601
1,171



Depreciation


At 1 March 2023
550
549
1,099


Charge for the year on owned assets
4
10
14



At 29 February 2024

554
559
1,113



Net book value



At 29 February 2024
16
42
58



At 28 February 2023
20
52
72


6.


Stocks

29 February
28 February
2024
2023
£
£

Raw materials and consumables
57,338
49,750

57,338
49,750


Page 7

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
724
435

Other debtors
71,388
103,684

Called up share capital not paid
4
4

72,116
104,123



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
94,546
78,781

94,546
78,781



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
10,396
12,556

Trade creditors
4,896
3,396

Other taxation and social security
1,737
6,787

Accruals and deferred income
1,795
1,776

18,824
24,515


Page 8

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
47,585
55,355

47,585
55,355


Secured loans
Bank loans are secured against the business assets.

Page 9

 
MET-CHECK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

11.


Deferred taxation






2024


£






At beginning of year
(18)


Charged to profit or loss
4



At end of year
(14)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(14)
(18)

(14)
(18)


12.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



77 (2023 - 77) Ordinary shares of £1.00 each
77
77



13.


Controlling party

The company is under the control of the directors who hold the majority shareholding.

 
Page 10