Metaldance Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Metaldance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03467672 . The registered office is Unit 20 Bridgemead Close, Westmead Industrial Estate, Swindon, SN5 7YT.

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

2. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.

3.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

3.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.

3.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	25% reducing balance

3.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Metaldance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.9. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3.11. Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3.12. Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

4. Average Number of Employees

Average number of employees, including directors, during the year was: 13 (2023: 12)

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Metaldance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	30,000

As at 31 December 2024	30,000

Amortisation
As at 1 January 2024	15,000
Provided during the period	3,000

As at 31 December 2024	18,000

Net Book Value
As at 31 December 2024	12,000

As at 1 January 2024	15,000

6. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	56,627	220,545	98,925	376,097
Additions	-	49,735	-	49,735

As at 31 December 2024	56,627	270,280	98,925	425,832

Depreciation
As at 1 January 2024	55,099	165,150	96,026	316,275
Provided during the period	382	51,907	1,268	53,557

As at 31 December 2024	55,481	217,057	97,294	369,832

Net Book Value
As at 31 December 2024	1,146	53,223	1,631	56,000

As at 1 January 2024	1,528	55,395	2,899	59,822

7. Stocks

	2024	2023
	£	£
Materials	86,800	93,699

8. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	281,323	206,903
Other debtors	33,749	23,252

	315,072	230,155

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Metaldance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	36,358	36,556
Trade creditors	177,346	136,625
Bank loans and overdrafts	36,232	42,025
Amounts owed to participating interests	47,950	24,000
Other creditors	147,883	106,888
Taxation and social security	81,427	76,353

	527,196	422,447

10. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	47,491	45,680
Bank loans	5,286	41,517

	52,777	87,197

11. Loans

An analysis of the maturity of loans is given below:

	2024	2023
	£	£
Amounts falling due within one year or on demand:
Bank loans	36,232	42,025

	2024	2023
	£	£
Amounts falling due between one and five years:
Bank loans	5,286	41,517

12. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	36,358	36,556
Later than one year and not later than five years	47,491	45,680

	83,849	82,236

	83,849	82,236

13. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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Metaldance Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

14. Other Commitments

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is the rental of premises occupied by the company.

	2024	2023
	£	£
Later than one year and not later than five years	-	20,000

	-	20,000

15. Related Party Disclosures

Summary of transactions with other related parties

AW Hydraulic Services Ltd, Macbeth 12 Ltd, Pirtek (Watford) Ltd, Hydraulic Solutions Ltd and Berkshire Hydraulic Solutions Ltd.

The companies listed abover were under the common control of Mr A and Mrs A Williams.

During the year there were outstanding loans from AW Hydraulic Services Ltd and Hydraulic Solutions Limited.

All sales and purchases made with the other related parties were concluded under normal market conditions.

Loans from related parties	Other related parties	Total
2024	£	£
At start of period	24,000	24,000
Repaid Advanced	(2,000) 25,950	(2,000) 25,950

At end of period	47,950	47,950

	Other related parties	Total
2023	£	£
At start of period	24,000	24,000


At end of period	24,000	24,000

Terms of loans from related parties

There are no terms of repayment or interest charged on loans from other related parties. These loans are both repayable on demand.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	5		12,000		15,000
Tangible Assets	6		56,000		59,822

			68,000		74,822
CURRENT ASSETS
Stocks	7	86,800		93,699
Debtors	8	315,072		230,155
Cash at bank and in hand		432,883		258,426

		834,755		582,280
Creditors: Amounts Falling Due Within One Year	9	(527,196 )		(422,447 )

NET CURRENT ASSETS (LIABILITIES)			307,559		159,833

TOTAL ASSETS LESS CURRENT LIABILITIES			375,559		234,655

Creditors: Amounts Falling Due After More Than One Year	10		(52,777 )		(87,197 )

NET ASSETS			322,782		147,458

CAPITAL AND RESERVES
Called up share capital	13		2		2
Profit and Loss Account			322,780		147,456

SHAREHOLDERS' FUNDS			322,782		147,458