Silverfin false false 31/03/2025 04/04/2024 31/03/2025 D G Gould 04/04/2024 R H Gould 04/04/2024 E Jones 05/06/2024 P Jones 12/08/2024 23 June 2025 The principal activity of the Company during the financial period was the provision of energy usage platforms. These accounts have been prepared for the short period of account from 04 April 2024 to 31 March 2025 due to incorporation in the period. 15617061 2025-03-31 15617061 bus:Director1 2025-03-31 15617061 bus:Director2 2025-03-31 15617061 bus:Director3 2025-03-31 15617061 bus:Director4 2025-03-31 15617061 core:CurrentFinancialInstruments 2025-03-31 15617061 core:ShareCapital 2025-03-31 15617061 core:SharePremium 2025-03-31 15617061 core:RetainedEarningsAccumulatedLosses 2025-03-31 15617061 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-03 15617061 2024-04-03 15617061 core:PatentsTrademarksLicencesConcessionsSimilar 2025-03-31 15617061 bus:OrdinaryShareClass1 2025-03-31 15617061 core:WithinOneYear 2025-03-31 15617061 core:BetweenOneFiveYears 2025-03-31 15617061 2024-04-04 2025-03-31 15617061 bus:FilletedAccounts 2024-04-04 2025-03-31 15617061 bus:SmallEntities 2024-04-04 2025-03-31 15617061 bus:AuditExemptWithAccountantsReport 2024-04-04 2025-03-31 15617061 bus:PrivateLimitedCompanyLtd 2024-04-04 2025-03-31 15617061 bus:Director1 2024-04-04 2025-03-31 15617061 bus:Director2 2024-04-04 2025-03-31 15617061 bus:Director3 2024-04-04 2025-03-31 15617061 bus:Director4 2024-04-04 2025-03-31 15617061 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2024-04-04 2025-03-31 15617061 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-04 2025-03-31 15617061 bus:OrdinaryShareClass1 2024-04-04 2025-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 15617061 (England and Wales)

METPOW LTD

Unaudited Financial Statements
For the financial period from 04 April 2024 to 31 March 2025
Pages for filing with the registrar

METPOW LTD

Unaudited Financial Statements

For the financial period from 04 April 2024 to 31 March 2025

Contents

METPOW LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
METPOW LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025
Note 31.03.2025
£
Fixed assets
Intangible assets 3 15,234
15,234
Current assets
Stocks 6,905
Debtors 4 157,938
Cash at bank and in hand 245,148
409,991
Creditors: amounts falling due within one year 5 ( 120,018)
Net current assets 289,973
Total assets less current liabilities 305,207
Net assets 305,207
Capital and reserves
Called-up share capital 6 2
Share premium account 550,000
Profit and loss account ( 244,795 )
Total shareholders' funds 305,207

For the financial period ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Metpow Ltd (registered number: 15617061) were approved and authorised for issue by the Board of Directors on 23 June 2025. They were signed on its behalf by:

E Jones
Director
METPOW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 04 April 2024 to 31 March 2025
METPOW LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 04 April 2024 to 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Metpow Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Century House, Nicholson Road, Torquay, TQ2 7TD, United Kingdom. The principal place of business is First Floor, Unit 1, Odhams Wharf, Topsham, Exeter, EX3 0PB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

These accounts have been prepared for the short period of account from 04 April 2024 to 31 March 2025 due to incorporation in the period.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred 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 financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 3 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 3 years which is their estimated useful economic life. Provision is made for any impairment.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
04.04.2024 to
31.03.2025
Number
Monthly average number of persons employed by the Company during the period, including directors 5

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 04 April 2024 0 0
Additions 18,911 18,911
At 31 March 2025 18,911 18,911
Accumulated amortisation
At 04 April 2024 0 0
Charge for the financial period 3,677 3,677
At 31 March 2025 3,677 3,677
Net book value
At 31 March 2025 15,234 15,234

4. Debtors

31.03.2025
£
Trade debtors 72,544
Amounts owed by directors 2
Prepayments 2,490
Corporation tax 82,902
157,938

5. Creditors: amounts falling due within one year

31.03.2025
£
Trade creditors 61,063
Amounts owed to directors 6
Accruals 3,050
Other taxation and social security 50,362
Other creditors 5,537
120,018

6. Called-up share capital

31.03.2025
£
Allotted, called-up and fully-paid
119,757 Ordinary shares of £ 0.00002 each 2

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.03.2025
£
within one year 20,083
between one and five years 41,750
61,833

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.03.2025
£
Unpaid contributions due to the fund (inc. in other creditors) 1,061

8. Related party transactions

Transactions with the entity's directors

31.03.2025
£
Balance due to directors at the year end. 6
Balance due by directors at the year end. 2

All amounts due to and from directors are repayable on demand and are provided interest free.

Other related party transactions

31.03.2025
£
Amounts paid to a company under common directorship during the period. 53,333

The expenses are included within research and development costs within the Profit and Loss Account.