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 |