Company registration number 09243215 (England and Wales)
Metal Depot Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2025
PAGES FOR FILING WITH REGISTRAR
Metal Depot Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Metal Depot Ltd
Statement Of Financial Position
as at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
250,001
1
Tangible assets
4
161,621
121,386
Investments
5
100
-
0
411,722
121,387
Current assets
Stocks
330,279
166,705
Debtors
954,890
989,771
Cash at bank and in hand
18,231
40,749
1,303,400
1,197,225
Creditors: amounts falling due within one year
(1,232,355)
(1,057,886)
Net current assets
71,045
139,339
Total assets less current liabilities
482,767
260,726
Creditors: amounts falling due after more than one year
(184,656)
(187,589)
Provisions for liabilities
(24,913)
(23,064)
Net assets
273,198
50,073
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
273,098
49,973
Total equity
273,198
50,073
Metal Depot Ltd
Statement Of Financial Position (continued)
as at 31 March 2025
- 2 -

For the financial year ended 31 March 2025 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 14 July 2025 and are signed on its behalf by:
S Everitt
M Linstead
Director
Director
Company registration number 09243215 (England and Wales)
Metal Depot Ltd
Notes to the financial statements
for the year ended 31 March 2025
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and will be amortised on a systematic basis over its expected life.

 

Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

 

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% Straight line basis
Computers
50% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Metal Depot Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2025
1
Accounting policies
(continued)
- 4 -
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
28
19
Metal Depot Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2025
- 5 -
3
Intangible fixed assets
Total
£
Cost
At 1 April 2024
1
Additions
250,000
At 31 March 2025
250,001
Amortisation and impairment
At 1 April 2024 and 31 March 2025
-
0
Carrying amount
At 31 March 2025
250,001
At 31 March 2024
1
4
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 April 2024
171,053
2,228
173,281
Additions
78,620
1,072
79,692
At 31 March 2025
249,673
3,300
252,973
Depreciation and impairment
At 1 April 2024
49,978
1,917
51,895
Depreciation charged in the year
38,858
599
39,457
At 31 March 2025
88,836
2,516
91,352
Carrying amount
At 31 March 2025
160,837
784
161,621
At 31 March 2024
121,075
311
121,386
5
Fixed asset investments
2025
2024
£
£
Investment in subsidiary
100
-
0
6
Company information

Metal Depot Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Navigation Lane, Lock Lane, Castleford, West Yorkshire, WF10 2LA.

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