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REGISTERED NUMBER: 06389694 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Metropolis Entertainment Limited

Metropolis Entertainment Limited (Registered number: 06389694)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Metropolis Entertainment Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: Mrs D S Jenkins



REGISTERED OFFICE: Ansty House
Henfield Road
Small Dole
Henfield
West Sussex
BN5 9XH



REGISTERED NUMBER: 06389694 (England and Wales)



ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



BANKERS: HSBC
1 Corn Market
High Wycombe
Buckinghamshire
HP11 2AY

Metropolis Entertainment Limited (Registered number: 06389694)

Statement of Financial Position
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 106,712 169,413
Tangible assets 5 67,268 78,556
173,980 247,969

CURRENT ASSETS
Debtors 6 22,801 47,282
Cash at bank 96,423 179,107
119,224 226,389
CREDITORS
Amounts falling due within one year 7 541,395 464,308
NET CURRENT LIABILITIES (422,171 ) (237,919 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(248,191

)

10,050

CREDITORS
Amounts falling due after more than one
year

8

1,820,000

1,820,000
NET LIABILITIES (2,068,191 ) (1,809,950 )

CAPITAL AND RESERVES
Called up share capital 1,146,000 1,146,000
Share premium 99,900 99,900
Retained earnings (3,314,091 ) (3,055,850 )
SHAREHOLDERS' FUNDS (2,068,191 ) (1,809,950 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Metropolis Entertainment Limited (Registered number: 06389694)

Statement of Financial Position - continued
31 October 2024


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 director and authorised for issue on 1 May 2025 and were signed by:





Mrs D S Jenkins - Director


Metropolis Entertainment Limited (Registered number: 06389694)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Metropolis Entertainment 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.

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

Other intangibles
Other intangible assets relate to the expertise and branding purchased in connection with purchasing the business in 2007. Since 2016, other intangible assets are being amortised over their remaining estimated useful life of 10 years.

Development costs
Development costs are costs directly attributable to bringing simulators into use and are capitalised when the simulators are licensed for use over a term of more than one year. Development costs are shown at historical cost less amortisation. Amortisation is charged to the profit and loss account in proportion to the revenue receivable over their useful lives. The useful lives of the projects are determined by reference to the underlying contracts which license their use. Useful lives range from 4 to 11 years. Residual value cannot be estimated as there is no commitment to purchase and no active market for re-sale and therefore residual value is presumed to be nil.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Simulator Equipment - at varying rates on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 20% on cost

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 statement of financial position date.


Metropolis Entertainment Limited (Registered number: 06389694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Going concern
The company shows a net liabilities position and has made losses in recent years. To continue as a going concern, the company has relied on support from the ultimate controlling party. The support from the ultimate controlling party has been provided in the form of not drawing on the director's loan and also deferring the collection of interest payments.
The ultimate controlling party, which is now the estate of the former director, have indicated that they will continue to support the company in these ways until the company is in a better financial position.

These financial statements are therefore prepared on a going concern basis as the ultimate controlling party have confirmed ongoing support for a period of at least 12 months following the date of the accountant's report.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

Metropolis Entertainment Limited (Registered number: 06389694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Other
Intangible Development
Assets costs Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 841,500 1,126,672 1,968,172
AMORTISATION
At 1 November 2023 740,520 1,058,239 1,798,759
Amortisation for year 50,490 12,211 62,701
At 31 October 2024 791,010 1,070,450 1,861,460
NET BOOK VALUE
At 31 October 2024 50,490 56,222 106,712
At 31 October 2023 100,980 68,433 169,413

5. TANGIBLE FIXED ASSETS
Simulator Plant and Computer
Equipment machinery equipment Totals
£    £    £    £   
COST
At 1 November 2023 1,441,445 3,400 3,268 1,448,113
Additions - - 499 499
At 31 October 2024 1,441,445 3,400 3,767 1,448,612
DEPRECIATION
At 1 November 2023 1,363,169 3,373 3,015 1,369,557
Charge for year 11,592 7 188 11,787
At 31 October 2024 1,374,761 3,380 3,203 1,381,344
NET BOOK VALUE
At 31 October 2024 66,684 20 564 67,268
At 31 October 2023 78,276 27 253 78,556

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 14,029 24,290
Other debtors 8,772 22,992
22,801 47,282

Metropolis Entertainment Limited (Registered number: 06389694)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 427,724 332,724
Taxation and social security 106,664 88,129
Other creditors 7,007 43,455
541,395 464,308

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.24 31.10.23
£    £   
Other creditors 1,820,000 1,820,000

9. RELATED PARTY DISCLOSURES

As at the balance sheet date a loan of £1,820,000 (2023 - £1,820,000) is owed to the estate of Mr M J Hunt, the ultimate controlling party. Interest of £131,165 (2023 - £152,057) has been charged on the loan during the year. £425,311 (2023 - £320,380) of interest was unpaid by the company as at the balance sheet date. Interest is charged at a market rate.

East Sussex National Ltd, a company related via common control, has re-charged expenses of £3,363 (2023 - £4,283) including £990 (2023 - £3,357) included in accrued expenses at the balance sheet date.

Swynson Ltd , a company related via common control, has charged £11,000 during the year (2023 - £11,000). £1,100 is owing to Swynson at the balance sheet date (2023 - £31,350).

Corporate Administration Management Ltd, a company related via common control, has re-charged expenses of £4,473 ( 2023 - £4,334), of which, £1,276 was included in creditors at the balance sheet date (2023 - £372).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the estate of Mr M J Hunt (deceased).