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Registered number: 08793355









MET COMMODITIES LONDON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
MET COMMODITIES LONDON LIMITED
REGISTERED NUMBER: 08793355

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
$
$

  

Current assets
  

Cash at bank and in hand
 4 
50,253
50,253

  
50,253
50,253

Total assets less current liabilities
  
 
 
50,253
 
 
50,253

  

  

Net assets
  
50,253
50,253


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
50,252
50,252

  
50,253
50,253


Page 1

 
MET COMMODITIES LONDON LIMITED
REGISTERED NUMBER: 08793355
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 March 2025.




Mr Franck Vernier
Director

The notes on pages 3 to 5 form part of these financial statements.
Page 2

 
MET COMMODITIES LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The financial information reflects the financial performance and position of MET Commodities London Limited (the 'Company') from 1 January 2024 to 31 December 2024.
The Company, that is private and limited by shares, was incorporated on 27 November 2013 and domiciled in the United Kingdom. The address of the Company's registered office and principal place of business is 249 Silbury Boulevard, C/O Hillier Hopkins LLP, Ground Floor, Milton Keynes, MK9 1NA.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework'  and the Companies Act 2006.

The Company's financial statements are presented in United States Dollars, which is also the functional currency of the Company.

The preparation of financial statements in compliance with FRS 101 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Page 3

 
MET COMMODITIES LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.2

Financial Reporting Standard 101 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions under FRS 101:
the requirements of paragraphs 45(b) and 46-52 of IFRS 2 Share-based payment
the requirements of IFRS 7 Financial Instruments: Disclosures
the requirements of paragraphs 91-99 of IFRS 13 Fair Value Measurement
the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers
the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases. The requirements of paragraph 58 of IFRS 16, provided that the disclosure of details in indebtedness relating to amounts payable after 5 years required by company law is presented separately for lease liabilities and other liabilities, and in total
the requirement in paragraph 38 of IAS 1 'Presentation of Financial Statements' to present comparative information in respect of:
 - paragraph 79(a)(iv) of IAS 1;
the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134-136 of IAS 1 Presentation of Financial Statements
the requirements of IAS 7 Statement of Cash Flows
the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
the requirements of paragraph 17 and 18A of IAS 24 Related Party Disclosures
the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member
the requirements of paragraphs 130(f)(ii), 130(f)(iii), 134(d)-134(f) and 135(c)-135(e) of IAS 36 Impairment of Assets.

This information is included in the consolidated financial statements of MET Sales and Trading Holding AG as at 31 December 2024 and these financial statements may be obtained from its registered office.

 
2.3

Foreign currency translation

The Company's financial statements are presented in United States Dollars, which is also the functional currency of the Company.
Transactions in foreign currencies are translated at the exchange rate of the European Central Bank (ECB) published on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate on that date.
Foreign exchange differences arising on translation are recognised in the Statement of Comprehensive Income. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.

Page 4

 
MET COMMODITIES LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


3.


Employees




The Company has no employees other than the Directors, who did not receive any remuneration (2023 - $NIL).


4.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
50,253
50,253

50,253
50,253



5.


Controlling party

The parent company of MET Commodities London Ltd. is MET Sales and Trading Holding AG.
The controlling party of MET Sales and Trading Holding AG is MET Holding AG.
For the parent undertaking MET Sales and Trading Holding AG (a company incorporated in Switzerland) consolidated financial statements are prepared. Copies of the consolidated financial statements of MET Sales and Trading Holding AG are available from Neuhofstrasse 24, 6340 Baar, Switzerland.


Page 5