Registered number
01412766
Metapraxis Limited
Unaudited Filleted Accounts
30 June 2024
Metapraxis Limited
Registered number: 01412766
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 5,216 19,770
Investments 5 1,000 1,000
6,216 20,770
Current assets
Debtors 6 495,941 394,308
Cash at bank and in hand 7,226 7,733
503,167 402,041
Creditors: amounts falling due within one year 7 (420,985) (1,006,784)
Net current assets/(liabilities) 82,182 (604,743)
Total assets less current liabilities 88,398 (583,973)
Creditors: amounts falling due after more than one year 8 (505,250) (325,000)
Net liabilities (416,852) (908,973)
Capital and reserves
Called up share capital 146,889 149,549
Share premium 1,526,016 1,526,016
Capital redemption reserve 40,928 38,268
Profit and loss account (2,130,685) (2,622,806)
Shareholders' funds (416,852) (908,973)
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.
M C Bittlestone
Director
Approved by the board on 26 February 2025
Metapraxis Limited
Notes to the Accounts
for the year ended 30 June 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 rendering of services.
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 over 3 years
Fixtures and fittings over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2024 2023
£ £
CVA write off 384,867
384,867 -
On 22nd September 2023 the company entered into a Company Voluntary Agreement with its creditors. By entering into this arrangment for a fixed period of three years the director is confident of meeting the ongoing liabilities of the company.

A prior year adjustment has not been made in these accounts for creditors for were owed at the end of June 2023 as this was rectified within the CVA in 2023.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 19
4 Tangible fixed assets
Plant and machinery etc Fixtures and fittings Total
£ £ £
Cost
At 1 July 2023 66,664 466 67,130
At 30 June 2024 66,664 466 67,130
Depreciation
At 1 July 2023 47,218 142 47,360
Charge for the year 14,398 156 14,554
At 30 June 2024 61,616 298 61,914
Net book value
At 30 June 2024 5,048 168 5,216
At 30 June 2023 19,446 324 19,770
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 July 2023 1,000
At 30 June 2024 1,000
6 Debtors 2024 2023
£ £
Trade debtors - 29,437
Amounts owed by group undertakings and undertakings in which the company has a participating interest 10,056 8,500
Other debtors 485,885 356,371
495,941 394,308
Amounts due after more than one year included above - 52,396
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans 191,702 245,640
Trade creditors 2,388 138,616
Amounts owed to group undertakings and undertakings in which the company has a participating interest 142,851 -
Taxation and social security costs 16,147 107,888
Other creditors 67,897 514,640
420,985 1,006,784
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 205,000 325,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 200,000 -
Other creditors 100,250 -
505,250 325,000
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases - 279,146
10 Other information
Metapraxis Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Mill Street
Gamlingay
Sandy
Beds
SG19 3JW
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