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REGISTERED NUMBER: 00605746 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

METWIN LIMITED

METWIN LIMITED (REGISTERED NUMBER: 00605746)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


METWIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: F Anderson
D F Anderson
M Philpotts
T M Anderson





REGISTERED OFFICE: Unit 14 Stort Mill
Riverway
Harlow
Essex
CM20 2SN





REGISTERED NUMBER: 00605746 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

METWIN LIMITED (REGISTERED NUMBER: 00605746)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 230,379 174,227
Investment property 5 360,592 360,592
590,971 534,819

CURRENT ASSETS
Stocks 212,214 224,811
Debtors 6 299,836 711,882
Cash at bank 748,321 417,780
1,260,371 1,354,473
CREDITORS
Amounts falling due within one year 7 666,625 862,272
NET CURRENT ASSETS 593,746 492,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,184,717

1,027,020

PROVISIONS FOR LIABILITIES 57,595 37,991
NET ASSETS 1,127,122 989,029

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 1,107,122 969,029
SHAREHOLDERS' FUNDS 1,127,122 989,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





F Anderson - Director


METWIN LIMITED (REGISTERED NUMBER: 00605746)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Metwin Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Depreciation commences in the month of acquisition.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for impairment of obsolete or slow moving items.

Work in progress is valued at the lower of cost and net realisable value. Cost consists of direct materials and labour. Net realisable value is based on the estimated contract value or selling price, less any further costs to completion and realisation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

METWIN LIMITED (REGISTERED NUMBER: 00605746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Operating lease agreements
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 68,437 15,908 248,703 10,104 343,152
Additions 8,400 - 129,437 7,690 145,527
Disposals - - (90,366 ) - (90,366 )
At 30 June 2024 76,837 15,908 287,774 17,794 398,313
DEPRECIATION
At 1 July 2023 12,566 14,073 140,389 1,897 168,925
Charge for year 7,163 934 53,795 4,908 66,800
Eliminated on disposal - - (67,791 ) - (67,791 )
At 30 June 2024 19,729 15,007 126,393 6,805 167,934
NET BOOK VALUE
At 30 June 2024 57,108 901 161,381 10,989 230,379
At 30 June 2023 55,871 1,835 108,314 8,207 174,227

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 360,592
NET BOOK VALUE
At 30 June 2024 360,592
At 30 June 2023 360,592

Investment property value was reassessed by the directors on 30 June 2024 on the basis of open market value. The directors consider that the current value of the investment property represents the market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 151,622 258,914
Other debtors - 300,000
Directors' current accounts 10,299 2,385
Prepayments and accrued income 137,915 150,583
299,836 711,882

METWIN LIMITED (REGISTERED NUMBER: 00605746)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 168,198 362,283
Corporation tax - 25,211
Social security and other taxes 157,586 98,802
VAT 77,696 118,235
Other creditors 4,458 33,253
Accruals and deferred income 258,687 224,488
666,625 862,272

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 51,000 51,000

The above lease relates to company's business premises.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
F Anderson
Balance outstanding at start of year 7,704 -
Amounts advanced 32,266 7,704
Amounts repaid (29,671 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,299 7,704

D F Anderson
Balance outstanding at start of year - 305
Amounts repaid - (305 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

M Philpotts
Balance outstanding at start of year - 29,958
Amounts repaid - (29,958 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The balance of overdrawn loan is repayable on demand and will be repaid by 31 January 2025.