Registered number
11498722
Metalysis Ltd
Filleted Accounts
31 December 2024
Metalysis Ltd
Registered number: 11498722
Balance Sheet
As at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 352,240 352,240
Tangible assets 4 2,631,885 1,834,304
2,984,125 2,186,544
Current assets
Stocks 314,041 153,183
Debtors 5 361,781 324,156
Cash at bank and in hand 1,713,334 2,647,576
2,389,156 3,124,915
Creditors: amounts falling due within one year 6 (2,380,024) (2,233,257)
Net current assets 9,132 891,658
Total assets less current liabilities 2,993,257 3,078,202
Creditors: amounts falling due after more than one year 7 (26,691,737) (20,549,728)
Net liabilities (23,698,480) (17,471,526)
Capital and reserves
Called up share capital 1 1
Profit and loss account (23,698,481) (17,471,527)
Shareholders' funds (23,698,480) (17,471,526)
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.
Nitesh Shah
Director
Approved by the board on 13 February 2025
Metalysis Ltd
Notes to the Accounts
For the year ended 31 December 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 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.
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:
Leasehold land and buildings over the lease term
Plant and machinery 5-10 years reducing balance
Fixtures, fittings, tools and equipment 3-5 years straight line
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Purchase of Metalysis Assets
The Metalysis IP is built on the FFC process purchsed from Cambridge University (England), and involves molten salts electrolysis to separate (in its solid state) oxygen from it elemental composition to produce advanced metal powders and alloys, including high entropy alloys.
The IP consists of 34 patent families and over 400 patents, covering over 60 territories and involving all aspects of the process from feedstock to post processing and powder generation.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 48 43
3 Intangible fixed assets £ £
Intellectual Property
Cost
At 1 January 2024 352,240 352,240
At 31 December 2024 352,240 352,240
Amortisation
At 31 December 2024 - -
Net book value
At 31 December 2024 352,240 352,240
At 31 December 2023 352,240 352,240
4 Tangible fixed assets
Leasehold improvements Plant and machinery Total
£ £
Cost
At 1 January 2024 33,298 1,861,007 1,894,305
Additions 9,855 822,646 832,501
Disposals - (683) (683)
At 31 December 2024 43,153 2,682,970 2,726,123
Depreciation
At 1 January 2024 3,690 56,311 60,001
Charge for the year 4,303 30,075 34,378
On disposals - (141) (141)
At 31 December 2024 7,993 86,245 94,238
Net book value
At 31 December 2024 35,160 2,596,725 2,631,885
At 31 December 2023 29,608 1,804,696 1,834,304
5 Debtors 2024 2023
£ £
Trade debtors 10,896 23,500
Other debtors 350,885 300,656
361,781 324,156
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 270,575 383,223
Taxation and social security costs 40,244 35,504
Other creditors 2,069,205 1,814,530
2,380,024 2,233,257
7 Creditors: amounts falling due after one year 2024 2023
£ £
Amounts owed to group undertakings 26,413,267 20,456,973
Other creditors 278,470 92,755
26,691,737 20,549,728
Amounts due to group entities will not be repayable for at least three years.
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 1,345,327 1,771,027
These relate to rental leases on two sites that the company operates from, with one ending in 2030 and the other in 2031.
9 Other information
Metalysis Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4a & 4b Brindley Way
Catcliffe
Rottherham
S60 5FS
Parent Company
Metalysis Ltd is a wholly owned subsidiary of Metalysis Holdings Ltd. The ultimate parent company being Metalysis Holdings Ltd.
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