Company Registration No. 03620093 (England and Wales)
Metropolis Security Limited
Unaudited accounts
for the year ended 31 August 2024
Metropolis Security Limited
Unaudited accounts
Contents
Metropolis Security Limited
Company Information
for the year ended 31 August 2024
Secretary
Victoria Jayne Wakefield
Company Number
03620093 (England and Wales)
Registered Office
UNIT 1 2ND FLOOR, APEX COURT,
WOODLANDS, BRADLEY STOKE,
BRISTOL
BS32 4JT
UNITED KINGDOM
Metropolis Security Limited
Statement of financial position
as at 31 August 2024
Tangible assets
52,846
58,975
Cash at bank and in hand
801,861
359,065
Creditors: amounts falling due within one year
(446,984)
(325,868)
Net current assets
908,565
823,876
Total assets less current liabilities
961,411
882,851
Provisions for liabilities
Deferred tax
(12,909)
(14,375)
Net assets
948,502
868,476
Called up share capital
100
100
Profit and loss account
948,402
868,376
Shareholders' funds
948,502
868,476
For the year ending 31 August 2024 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 March 2025 and were signed on its behalf by
L W Pearce
Director
Company Registration No. 03620093
Metropolis Security Limited
Notes to the Accounts
for the year ended 31 August 2024
Metropolis Security Limited is a private company, limited by shares, registered in England and Wales, registration number 03620093. The registered office is UNIT 1 2ND FLOOR, APEX COURT,, WOODLANDS, BRADLEY STOKE,, BRISTOL, BS32 4JT, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% - reducing balance basis
Motor vehicles
25% - reducing balance basis
Fixtures & fittings
25% - reducing balance basis
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Metropolis Security Limited
Notes to the Accounts
for the year ended 31 August 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
20,757
70,540
59,671
150,968
Additions
-
11,560
-
11,560
At 31 August 2024
20,757
82,100
59,671
162,528
At 1 September 2023
16,445
31,979
43,569
91,993
Charge for the year
3,186
12,530
1,973
17,689
At 31 August 2024
19,631
44,509
45,542
109,682
At 31 August 2024
1,126
37,591
14,129
52,846
At 31 August 2023
4,312
38,561
16,102
58,975
Amounts falling due within one year
Trade debtors
407,294
443,010
Accrued income and prepayments
8,477
14,122
Other debtors
137,917
333,547
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
342,000
222,764
Taxes and social security
42,333
33,243
Other creditors
1,784
1,466
Metropolis Security Limited
Notes to the Accounts
for the year ended 31 August 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
330,874
-
195,685
135,189
330,874
-
195,685
135,189
The company was owed £330,874 at the year end by Mr L W Pearce, the company's director.
This loan subsisted during the year and in respect of which interest was charged by the company to the director at the Official Rate of Interest. The loan balance is disclosed within "Other debtors" due within one year.
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Average number of employees
During the year the average number of employees was 46 (2023: 43).