REGISTERED NUMBER: 11447260 (England and Wales)

Metaphorix Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms J S Chambers

Ms V J Clarke

J T Martikainen

L A S van der Ploeg

REGISTERED OFFICE:

6220 Bishops Court Solihull Parkway

Birmingham Business Park

Birmingham

West Midlands

B37 7YB

REGISTERED NUMBER:

11447260 (England and Wales)

AUDITORS:

Haines Watts

Chartered Accountants and Statutory Auditors

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

CURRENT ASSETS

Debtors

4

68,231

109,643

Cash at bank

275,763

251,908

343,994

361,551

CREDITORS

Amounts falling due within one year

5

275,084

303,495

NET CURRENT ASSETS

68,910

58,056

TOTAL ASSETS LESS CURRENT LIABILITIES

68,910

58,056

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

68,810

57,956

SHAREHOLDERS' FUNDS

68,910

58,056

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 6 February 2025 and were signed on its behalf by:

Ms J S Chambers - Director

L A S van der Ploeg - Director

1.	STATUTORY INFORMATION

Metaphorix 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.

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.

On 1 January 2025, all trade and assets were transferred over to Metaphorix Limited's sister company, 4PS Construction Solutions Limited, at net book value. All customer contracts and commitments were also novated across and Metaphorix Limited ceased to trade at this point. The accounts have been prepared on a going concern basis as carrying values have all been fully recovered.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

In preparing these financial statements, the directors have made the following judgments:

Useful economic lives of tangible fixed assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Provisions and contingencies

A provision is recognised when the company has a present legal or constructive obligation as a result of a

past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

Whether a present obligation is probable or not requires judgment. The nature and type of risks for these provisions differ and management’s judgment is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not.

Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

Creditors

Short-term 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.

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.

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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

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

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

68,231

102,163

Amounts owed by group undertakings

-

6,892

Other debtors

-

588

68,231

109,643

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

507

12,412

Amounts owed to group undertakings

-

15,967

Taxation and social security

2,639

21,014

Other creditors

271,938

254,102

275,084

303,495

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Darren Barlow FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts

8.	CONTINGENT LIABILITIES

The Company has entered into contracts with its customers for support service on systems supplied and is liable for any future costs in excess of the income deferred at the balance sheet date. The Directors do not foresee any losses arising.

9.	POST BALANCE SHEET EVENTS

On 1 January 2025, all trade and assets were transferred over to Metaphorix Limited's fellow subsidiary, 4PS Construction Solutions Limited, at net book value. All customer contracts and commitments were also novated across and Metaphorix Limited ceased to trade at this point.

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is 4PS BV, a company registered in Netherlands.

The ultimate parent company, following a takeover in 2023, is Hilti AG, a company registered in Liechtenstein. Hilti AG prepare consolidated, group accounts, which are freely available from the Hilti website.

Hilti AG is wholly owned by the Martin Hilti Family Trust.