METRAX ENGINEERING LTD

Company Registration Number:
07170257 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

METRAX ENGINEERING LTD

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

METRAX ENGINEERING LTD

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 663,353 268,384
Total fixed assets: 663,353 268,384
Current assets
Stocks: 64,200 58,400
Debtors:   410,923 389,240
Cash at bank and in hand: 790,340 589,097
Total current assets: 1,265,463 1,036,737
Creditors: amounts falling due within one year:   (652,113) (352,585)
Net current assets (liabilities): 613,350 684,152
Total assets less current liabilities: 1,276,703 952,536
Creditors: amounts falling due after more than one year:   (29,677) (48,692)
Provision for liabilities: (123,865) (50,993)
Total net assets (liabilities): 1,123,161 852,851
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,123,061 852,751
Shareholders funds: 1,123,161 852,851

The notes form part of these financial statements

METRAX ENGINEERING LTD

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 October 2024
and signed on behalf of the board by:

Name: Mr Daniel Ward
Status: Director

The notes form part of these financial statements

METRAX ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: * Freehold buildings - periodically revalued; * Leasehold land and buildings - over the lease term; * Plant and machinery & IT - over 5 years; and * Motor vehicles - over 4 years

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

METRAX ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 16 13

METRAX ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 561,442
Additions 477,024
At 31 March 2024 1,038,466
Depreciation
At 01 April 2023 293,058
Charge for year 82,055
At 31 March 2024 375,113
Net book value
At 31 March 2024 663,353
At 31 March 2023 268,384

METRAX ENGINEERING LTD

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Related party transactions

Name of the related party: Mr D Ward
Relationship:
Director
Description of the Transaction: Director loan monies owed to the company. Interest charged based on Bank of England base rate.
£
Balance at 01 April 2023 144,979
Balance at 31 March 2024 163,545