Company registration number: 06470108
Unaudited financial statements
for the year ended 31 March 2024
for
Metrodeco Limited
Pages for filing with the Registrar
Company registration number: 06470108
Metrodeco Limited
Balance sheet
as at 31 March 2024
31 Mar 24 31 Mar 23
Note £ £ £ £
Fixed assets
Tangible assets 4 6,337 301
6,337 301
Current assets
Stocks 1,500 2,000
Debtors 13,727 16,754
Cash at bank and in hand 476 1,216
15,703 19,970
Creditors: amounts falling due within
one year
(83,090) (56,708)
Net current liabilities (67,387) (36,738)
Total assets less current liabilities (61,050) (36,437)
Provisions for liabilities 10,155 5,479
NET LIABILITIES (50,895) (30,958)
Capital and reserves
Called up share capital 1 1
Profit and loss account (50,896) (30,959)
TOTAL EQUITY (50,895) (30,958)
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 06470108
Metrodeco Limited
Balance sheet - continued
as at 31 March 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 Profit and loss account has not been delivered to the Registrar.
Signed by:
Mr G Fotheringham, Director
2 December 2024
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Metrodeco Limited
Notes to the financial statements
for the year ended 31 March 2024
1 Company information
Metrodeco Limited is a private company registered in England and Wales. Its registered number is 06470108. The company is limited by shares. Its registered office is Metrodeco, 38 Upper St. James's Street, Brighton, East Sussex, BN2 1JN.
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Computer equipment - 25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Metrodeco Limited
Notes to the financial statements - continued
for the year ended 31 March 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 9 (2023 - 5).
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Metrodeco Limited
Notes to the financial statements - continued
for the year ended 31 March 2024
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 April 2023 534
Additions 6,943
At 31 March 2024 7,477
Depreciation
At 1 April 2023 233
Charge for year 907
At 31 March 2024 1,140
Net book value
At 31 March 2024 6,337
At 31 March 2023 301
5 Advances, credit and guarantees granted to the director
The following advances and credits to a director subsisted during the periods ended 31 March 2024 and 31 March 2023.
31 Mar 24 31 Mar 23
£ £
Mr Graeme James Fotheringham
Balance outstanding at start of year (35,037) (23,506)
Amounts advanced (42,404) (24,548)
Amounts repaid 5,235 13,017
Balance outstanding at end of year (72,206) (35,037)
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