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COMPANY REGISTRATION NUMBER: 07607711
Metro International Entertainment Limited
Filleted Unaudited Financial Statements
29 April 2024
Metro International Entertainment Limited
Statement of Financial Position
29 April 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
514,449
527,997
Cash at bank and in hand
100,864
101,291
---------
---------
615,313
629,288
Creditors: amounts falling due within one year
6
( 619,574)
( 580,672)
---------
---------
Net current (liabilities)/assets
( 4,261)
48,616
-------
--------
Total assets less current liabilities
( 4,261)
48,616
-------
--------
Net (liabilities)/assets
( 4,261)
48,616
-------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 4,263)
48,614
-------
--------
Shareholders (deficit)/funds
( 4,261)
48,616
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 April 2025 , and are signed on behalf of the board by:
W Machin
Director
Company registration number: 07607711
Metro International Entertainment Limited
Notes to the Financial Statements
Year ended 29 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 16 Lincoln's Inn Fields, Holborn, WC2A 3ED, London.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Income tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided on in full on timing differences, which result in an obligation to pay more tax at a future date, at the current tax rates and laws. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on on tax rates and laws enacted or substantially enacted at the balance sheet date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Debtors
2024
2023
£
£
Trade debtors
51,929
51,683
Other debtors
462,520
476,314
---------
---------
514,449
527,997
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
187,366
173,433
Social security and other taxes
3,421
3,216
Inter company
149,924
149,924
Other creditors
5,734
2,134
Other creditors
273,129
251,965
---------
---------
619,574
580,672
---------
---------
7. Related party transactions
The company was under the control of Metro Film Sales Limited. During the previous year the company made a loan to Metro Film Sales Limited. As at 30 April 2024, an amount of £333 remained outstanding. During the year the company received loan from Metro Real Entertainment Limited, a company in which Metro Film Sales Limited holds 100% of the share capital. As at 30 April 2024, an amount of £150,257(2023:£150,257) remained outstanding.