Registered number
08026141
Metalista Ltd
Filleted Accounts
30 April 2024
Metalista Ltd
Registered number: 08026141
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 128,520 144,585
Tangible assets 4 4,215 3,821
132,735 148,406
Current assets
Stocks 17,492 17,492
Debtors 5 37,404 1,306
Cash at bank and in hand 206,887 65,330
261,783 84,128
Creditors: amounts falling due within one year 6 (453,358) (262,864)
Net current liabilities (191,575) (178,736)
Net liabilities (58,840) (30,330)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (59,840) (31,330)
Shareholders' funds (58,840) (30,330)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Farhan Ishtiaq
Director
Approved by the board on 20 January 2025
Metalista Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
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:
Plant and machinery 20%
Fixtures, fittings, tools and equipment 20%
Stocks
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Application Developed cost-goodwill
Cost
At 1 May 2023 160,650
At 30 April 2024 160,650
Amortisation
At 1 May 2023 16,065
Provided during the year 16,065
At 30 April 2024 32,130
Net book value
At 30 April 2024 128,520
At 30 April 2023 144,585
Application deceloped is being amortised off in equal annual instalments over its estimated economic life of ten years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 10,244
Additions 1,448
At 30 April 2024 11,692
Depreciation
At 1 May 2023 6,423
Charge for the year 1,054
At 30 April 2024 7,477
Net book value
At 30 April 2024 4,215
At 30 April 2023 3,821
5 Debtors 2024 2023
£ £
Customs & Excise 37,177 1,306
Other debtors 227 -
37,404 1,306
6 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 2,223 5,490
Director's account 30,014 58,012
Loan Investment - Director 1 393,526 173,998
Loan Investment - Director 2 2,746 3,546
Trade creditors 21,708 21,678
Taxation and social security costs 140 140
Other creditors 3,001 -
453,358 262,864
7 Contingent liabilities
The director has confirmed that there were no contingent liabilities during the year, which should be disclosed at 30 April 2024.
8 Controlling Interest, Related party & transactions with director
The two directors own 50% each of issued share capital and therefore jointly control the company.

Following related party transactions occurred with business owned by family members, all the transaction were at market value;

Sales made to company where the directors owns shares £212,053 (2023 £174,080).

Included in trade creditor is £21,553 (2023 £21,553) owed to a company connected to the director.

All the transactions were at arms length and at market value.

The director's account has always remained in credit and the balance outstanding at year end was £30,014 (2023 £58,012). The other shareholder director account balance at the year end was £2,746 (2023 £3,546).

The directors loan account balance at the year end was £393,526 (2023 £173,998). The loan account is interest free and of no set terms and repayable on demand.

Dividends paid to the the director shareholder was nil (2023 £nil).
9 Going Concern
The director has reviewed a period of 12 months from approval of these financial statements and concluded the company is able to meet all its liabilites as they fall due. As a result it is appropriate it is appropriate to prepare the accounts on a going concern basis.
10 Other information
Metalista Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Flat 34 Hawker Building
350 Queenstown Road,
London
SW11 8AE
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