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Metfast Limited

Registered Number
04350891
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2025

Metfast Limited
Company Information
for the year from 1 February 2024 to 31 January 2025

Directors

S W Grimshaw
N J McSharry

Company Secretary

N J McSharry

Registered Address

70 Market Street
Tottington
Bury
BL8 3LJ

Registered Number

04350891 (England and Wales)
Metfast Limited
Balance Sheet as at
31 January 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets3132,26871,450
132,26871,450
Current assets
Stocks4100,377153,054
Debtors5313,689311,784
Cash at bank and on hand208,561232,836
622,627697,674
Creditors amounts falling due within one year6(298,935)(314,551)
Net current assets (liabilities)323,692383,123
Total assets less current liabilities455,960454,573
Provisions for liabilities7(13,263)(15,256)
Net assets442,697439,317
Capital and reserves
Called up share capital5656
Other reserves4444
Profit and loss account442,597439,217
Shareholders' funds442,697439,317
The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2025, and are signed on its behalf by:
S W Grimshaw
Director
Registered Company No. 04350891
Metfast Limited
Notes to the Financial Statements
for the year ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings15-
Vehicles25-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20252024
Average number of employees during the year710
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 February 2453,39787,36411,95928,195180,915
Additions-83,935--83,935
At 31 January 2553,397171,29911,95928,195264,850
Depreciation and impairment
At 01 February 2448,06725,65810,60625,134109,465
Charge for year1,06618,7872033,06123,117
At 31 January 2549,13344,44510,80928,195132,582
Net book value
At 31 January 254,264126,8541,150-132,268
At 31 January 245,33061,7061,3533,06171,450
4.Stocks

2025

2024

££
Finished goods100,377153,054
Total100,377153,054
5.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables292,555260,771
Other debtors9,35236,022
Prepayments and accrued income11,78214,991
Total313,689311,784
6.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables161,192226,456
Taxation and social security94,19664,801
Other creditors43,54723,294
Total298,935314,551
7.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)13,26315,256
Total13,26315,256
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
S W Grimshaw26,785026,7850
26,785026,7850
9.Controlling party
The ultimate controllling party is S.W Grimshaw, and N. J. McSharry, by virtue of their sharholdings in MHC (UK) Limited, being the holding company which owns 100% of the shares in Metfast Limited.