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Registration number: 14526506

Metica Holdings Limited

Unaudited Filleted Financial Statements

for the Period from 7 December 2022 to 31 December 2023

 

Metica Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Metica Holdings Limited

Company Information

Directors

Philipp Mohr

Pulitha Liyanagama

Harri Esko Johannes Manninen

Registered office

Tiger House
Suite 11
Burton Street
London
WC1H 9BY

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

Metica Holdings Limited

(Registration number: 14526506)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investments

4

1

Current assets

 

Debtors

5

1,457,004

Cash at bank and in hand

 

2,493,478

 

3,950,482

Creditors: Amounts falling due within one year

6

(12,500)

Net current assets

 

3,937,982

Net assets

 

3,937,983

Capital and reserves

 

Called up share capital

7

1

Share premium reserve

4,035,271

Retained earnings

(97,289)

Shareholders' funds

 

3,937,983

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Philipp Mohr
Director

 

Metica Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tiger House
Suite 11
Burton Street
London
WC1H 9BY

These financial statements were authorised for issue by the Board on 3 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Metica Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

4

Investments

2023
£

Investments in subsidiaries

1

 

Metica Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

5

Debtors

Current

Note

2023
£

Amounts owed by related parties

9

1,454,604

Other debtors

 

2,400

   

1,457,004

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

1,500

Other creditors

11,000

12,500

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £0.0000001 each

10,282,083

1.03

Series seed shares of £0.0000001 each

1,795,833

0.18

 

12,077,916

1.21

 

Metica Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 7 December 2022 to 31 December 2023

8

Group share-based payments

Key Employee Share Option Scheme

Scheme details and movements

Certain employees of group companies participate in the Key-employee share option scheme which provides additional remuneration for those employees who are key to the operations of the group. The options are exercisable three years after the date of grant and expire ten years after the date of grant. Employees are not entitled to dividends until the options are exercised.

Vesting of the options is subject to continued employment within the group and meeting agreed targets.

The movements in the number of share options during the period were as follows:

Group

2023
Number

Granted during the period

3,032,500

Forfeited during the period

(575,000)

Outstanding, end of period

2,457,500

The movements in the weighted average exercise price of share options during the period were as follows:

Group

2023
£

Granted during the period

0.28

Forfeited during the period

0.01

Outstanding, end of period

0.34

9

Related party transactions

Loans to related parties

2023

Subsidiary
£

Total
£

Advanced

1,454,604

1,454,604

At end of period

1,454,604

1,454,604