ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

Registered number: 07104594

F. G. METCALFE & SON LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 9 MAY 2025

F. G. METCALFE & SON LIMITED

REGISTERED NUMBER: 07104594

BALANCE SHEET

AS AT 9 MAY 2025

	9 May	31 December
	2025	2023
Note	£	£

Fixed assets
Tangible assets	4		-		1,240
			-		1,240
Current assets
Stocks		-		10,212
Debtors: amounts falling due within one year	5	18,522		160,469
Cash at bank and in hand		-		115,402
		18,522		286,083
Creditors: amounts falling due within one year	6	(2,100)		(153,508)
Net current assets			16,422		132,575
Total assets less current liabilities			16,422		133,815
Provisions for liabilities
Deferred tax		-		(310)
			-		(310)
Net assets			16,422		133,505

Capital and reserves
Called up share capital	120	120
Profit and loss account	16,302	133,385
	16,422	133,505

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F. G. METCALFE & SON LIMITED

REGISTERED NUMBER: 07104594

BALANCE SHEET (CONTINUED)

AS AT 9 MAY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2025.

A Metcalfe

Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

1.	General information

F.G. Metcalfe & Son Limited is a private limited liability company with share capital incorporated in England & Wales under company number 07104594. The company's registered office and principle place of business is Unit 3 Kingsthorpe Business Centre, Studland Road, Northampton, NN2 6NE.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

2.Accounting policies (continued)

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	15%	reducing balance
				Computer equipment	-	25%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

2.Accounting policies (continued)

2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3.	Employees
		2025	2023
		£	£

Wages and salaries	95,250	106,288
Social security costs	9,066	10,586
Cost of defined contribution scheme	2,255	2,266
	106,571	119,140

The average monthly number of employees, including directors, during the period was 3 (2023 - 4).

Page 6

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

4.	Tangible fixed assets

	Fixtures and fittings	Office equipment	Total
	£	£	£

At 1 January 2024	3,858	36,791	40,649
Disposals	(3,858)	(36,791)	(40,649)
At 9 May 2025	-	-	-

At 1 January 2024	2,617	36,791	39,408
Disposals	(2,617)	(36,791)	(39,408)
At 9 May 2025	-	-	-
Net book value
At 9 May 2025	-	-	-
At 31 December 2023	1,240	-	1,240

Page 7

F. G. METCALFE & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 9 MAY 2025

Debtors

					9 May	31 December
					2025	2023
					£	£


Trade debtors	-	156,677
Other debtors	18,522	-
Prepayments and accrued income	-	3,792
	18,522	160,469

Trade creditors	-	112,332
Corporation tax	-	24,333
Other taxation and social security	-	14,035
Other creditors	-	256
Accruals and deferred income	2,100	2,552
	2,100	153,508

7.	Pension commitments

The company operates a defined contribution pension scheme whose assets are held seperately from those of the company. The pension cost charge represents contributions paid by the company to the scheme and amounts to £1,124 (2023: £1,131) for Directors and £1,313 (2023: £946) for the employees. At 9 May 2025 there were outstanding employer contributions of £0 (2023: £255).

8.	Related party transactions
	The company occupies premises owned by the ultimate controlling company. Rent of £47,351 (2023: £36,000) and insurance of £1,144 (2023: £572) was paid in the period.

9.	Controlling party

The company is ultimately controlled by F.G. Metcalfe & Son Holdings Limited.

Page 8