CARDIFF MET COMPANY LTD

Company Registration Number:
02656744 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

CARDIFF MET COMPANY LTD

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

CARDIFF MET COMPANY LTD

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The provision of training and consultancy activities on behalf of Cardiff Metropolitan University. In addition, the company also provides conferencing, residential, catering, and sports related services using the University estate.



Directors

The directors shown below have held office during the whole of the period from
1 August 2023 to 31 July 2024

S Hanton
S D J Llewellyn


The director shown below has held office during the period of
1 August 2023 to 1 February 2024

C Aitchison


The director shown below has held office during the period of
1 February 2024 to 31 July 2024

R E Langford


Secretary Simon Landy

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 February 2025

And signed on behalf of the board by:
Name: Simon Landy
Status: Secretary

CARDIFF MET COMPANY LTD

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 6,790,732 3,349,265
Cost of sales: ( 7,874,269 ) ( 4,819,695 )
Gross profit(or loss): (1,083,537) (1,470,430)
Distribution costs: 0 0
Administrative expenses: ( 3,575,000 ) 0
Other operating income: 0 0
Operating profit(or loss): (4,658,537) (1,470,430)
Interest receivable and similar income: 192,057 122,802
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (4,466,480) (1,347,628)
Tax: 0 0
Profit(or loss) for the financial year: (4,466,480) (1,347,628)

CARDIFF MET COMPANY LTD

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 112,307 150,749
Investments: 4 100 100
Total fixed assets: 112,407 150,849
Current assets
Debtors: 5 1,464,649 3,551,562
Cash at bank and in hand: 1,291,969 906,607
Total current assets: 2,756,618 4,458,169
Creditors: amounts falling due within one year: 6 ( 7,039,527 ) ( 4,313,040 )
Net current assets (liabilities): (4,282,909) 145,129
Total assets less current liabilities: (4,170,502) 295,978
Total net assets (liabilities): (4,170,502) 295,978
Capital and reserves
Called up share capital: 4,050,002 4,050,002
Profit and loss account: (8,220,504 ) (3,754,024 )
Total Shareholders' funds: ( 4,170,502 ) 295,978

The notes form part of these financial statements

CARDIFF MET COMPANY LTD

Balance sheet statements

For the year ending 31 July 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.

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

This report was approved by the board of directors on 5 February 2025
and signed on behalf of the board by:

Name: R E Langford
Status: Director

The notes form part of these financial statements

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    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 related to the non-core business activities of the University and represents the income received from commercial enterprise and innovation activities. Turnover is included to the extent of the completion of the contract or service rendered.

    Tangible fixed assets depreciation policy

    Tangible assets are stated at cost which includes the original purchase price plus the related costs of acquisition. Depreciation is charged over the useful life of the asset on a straight-line basis as follows: Equipment - 3 to 10 years

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

    The company does not employ any staff under contracts of service (2023: the same). Services are provided by University staff and the associated costs are recharged to the company.

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 2,049,202 2,049,202
Additions 33,678 33,678
Disposals
Revaluations
Transfers
At 31 July 2024 2,082,880 2,082,880
Depreciation
At 1 August 2023 1,898,453 1,898,453
Charge for year 72,120 72,120
On disposals
Other adjustments
At 31 July 2024 1,970,573 1,970,573
Net book value
At 31 July 2024 112,307 112,307
At 31 July 2023 150,749 150,749

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Fixed assets investments note

Tangible assets are stated at cost which includes the original purchase price plus the related costs of acquisition.

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Debtors

2024 2023
£ £
Trade debtors 95,569 203,537
Prepayments and accrued income 1,329,080 258,025
Other debtors 40,000 3,090,000
Total 1,464,649 3,551,562

CARDIFF MET COMPANY LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 81,918 52,840
Accruals and deferred income 66,308 66,116
Other creditors 6,891,301 4,194,084
Total 7,039,527 4,313,040