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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
Page
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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
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M1 METRO LIMITED Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
89,000 
89,000 
Tangible assets
34,571 
36,557 
123,571 
125,557 
Current assets
Inventories
69,362 
26,472 
Debtors
72,618 
104,624 
Cash at bank and in hand
33,660 
58,087 
175,640 
189,183 
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)
Capital and reserves
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
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M1 METRO LIMITED Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
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
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 assets
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
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.
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M1 METRO LIMITED Notes to the Accounts for the year ended 31 October 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 November 2023
89,000 
At 31 October 2024
89,000 
Amortisation
At 1 November 2023
- 
At 31 October 2024
- 
Net book value
At 31 October 2024
89,000 
At 31 October 2023
89,000 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
183,923 
- 
183,923 
Additions
- 
2,405 
2,405 
At 31 October 2024
183,923 
2,405 
186,328 
Depreciation
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 
Net book value
At 31 October 2024
32,901 
1,670 
34,571 
At 31 October 2023
36,557 
- 
36,557 
6
Inventories
2024 
2023 
£ 
£ 
Finished goods
69,362 
26,472 
69,362 
26,472 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,697 
8,045 
Amounts falling due after more than one year
Trade debtors
- 
68,159 
Amounts due from group undertakings etc.
37,766 
- 
Other debtors
33,155 
28,420 
70,921 
96,579 
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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 
367,261 
295,306 
9
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
27,121 
33,431 
10
Average number of employees
During the year the average number of employees was 2 (2023: 5).
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