Company Registration No. 12648579 (England and Wales)
Metalynx Ltd
Amended unaudited accounts
for the year ended 30 June 2024
Metalynx Ltd
Company Information
for the year ended 30 June 2024
Directors
Kanwal Kaur Bhatia
Dominic John Keen
Company Number
12648579 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Metalynx Ltd
Accountants' report
Accountants' report to the board of directors of Metalynx Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Metalynx Ltd for the year ended
30 June 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Metalynx Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Metalynx Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Metalynx Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Metalynx Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Metalynx Ltd. You consider that Metalynx Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Metalynx Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
24 March 2025
Metalynx Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
6,922
5,771
Cash at bank and in hand
165,645
165,390
Creditors: amounts falling due within one year
(30,294)
(11,241)
Net current assets
205,885
317,448
Net assets
212,807
323,219
Called up share capital
3
3
Share premium
731,733
681,591
Profit and loss account
(518,929)
(358,375)
Shareholders' funds
212,807
323,219
For the year ending 30 June 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 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 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 of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by
Kanwal Kaur Bhatia
Director
Company Registration No. 12648579
Metalynx Ltd
Notes to the Accounts
for the year ended 30 June 2024
Metalynx Ltd is a private company, limited by shares, registered in England and Wales, registration number 12648579. The registered office is 71-75 Shelton Street, London, WC2H 9JQ, England.
2
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
Metalynx Ltd
Notes to the Accounts
for the year ended 30 June 2024
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:
Fixtures & fittings
20% Straight Line
Computer equipment
20% Straight Line
Expenditure on research and development is written off in the year in which it is incurred.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
613
6,171
6,784
At 30 June 2024
613
9,698
10,311
At 1 July 2023
174
839
1,013
Charge for the year
123
2,253
2,376
At 30 June 2024
297
3,092
3,389
At 30 June 2024
316
6,606
6,922
At 30 June 2023
439
5,332
5,771
Amounts falling due within one year
Accrued income and prepayments
-
72,978
Other debtors
66,999
86,537
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,698
9,628
Other creditors
24,639
1,161
Loans from directors
784
138
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).