Company Registration No. 03857340 (England and Wales)
M1 METRO LIMITED
Unaudited accounts
for the year ended 31 October 2024
M1 METRO LIMITED
Unaudited accounts
Contents
M1 METRO LIMITED
Company Information
for the year ended 31 October 2024
Directors
Ali Raza Ahmad
Joan Mcguire
Company Number
03857340 (England and Wales)
Registered Office
14-16 OLDHAM STREET
MANCHESTER
M1 1JG
ENGLAND
Accountants
CLEARCUT ACCOUNTING LIMITED
SUITE 2 PARKWAY 5 PARKWAY BUSINESS CENT
300 PRINCESS ROAD
MANCHESTER
M14 7HR
M1 METRO LIMITED
Statement of financial position
as at 31 October 2024
Intangible assets
89,000
89,000
Tangible assets
34,571
36,557
Cash at bank and in hand
33,660
58,087
Creditors: amounts falling due within one year
(367,261)
(295,306)
Net current liabilities
(191,621)
(106,123)
Total assets less current liabilities
(68,050)
19,434
Creditors: amounts falling due after more than one year
(27,121)
(33,431)
Net liabilities
(95,171)
(13,997)
Called up share capital
100
100
Profit and loss account
(95,271)
(14,097)
Shareholders' funds
(95,171)
(13,997)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by
Ali Raza Ahmad
Director
Company Registration No. 03857340
M1 METRO LIMITED
Notes to the Accounts
for the year ended 31 October 2024
M1 METRO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03857340. The registered office is 14-16 OLDHAM STREET, MANCHESTER, M1 1JG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
At the time of approving the financial statements, the directors have a reasonable expectation that the company will continue its operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover in respect of direct sales is recognised on the day of delivery to the customer.
Intangible fixed asset purchased goodwill is included at cost and is subject to annual impairment testing.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing balance
Fixtures & fittings
Straight Line Method over 3 Years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
M1 METRO LIMITED
Notes to the Accounts
for the year ended 31 October 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2023
183,923
-
183,923
At 31 October 2024
183,923
2,405
186,328
At 1 November 2023
147,366
-
147,366
Charge for the year
3,656
735
4,391
At 31 October 2024
151,022
735
151,757
At 31 October 2024
32,901
1,670
34,571
At 31 October 2023
36,557
-
36,557
Finished goods
69,362
26,472
Amounts falling due within one year
Amounts falling due after more than one year
Amounts due from group undertakings etc.
37,766
-
Other debtors
33,155
28,420
M1 METRO LIMITED
Notes to the Accounts
for the year ended 31 October 2024
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
345,648
299,218
Taxes and social security
119
(6,504)
Other creditors
4,978
1,590
Loans from directors
16,516
1,002
9
Creditors: amounts falling due after more than one year
2024
2023
10
Average number of employees
During the year the average number of employees was 2 (2023: 5).