Metlane Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 02956706

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		11,274,131		11,477,516
Investments	5		100		100

			11,274,231		11,477,616
CURRENT ASSETS
Stocks	6	28,500		31,000
Debtors	7	59,173		70,808
Cash at bank and in hand		29,040		38,509

		116,713		140,317
Creditors: Amounts Falling Due Within One Year	8	(1,255,804 )		(1,270,004 )

NET CURRENT ASSETS (LIABILITIES)			(1,139,091 )		(1,129,687 )

TOTAL ASSETS LESS CURRENT LIABILITIES			10,135,140		10,347,929

Creditors: Amounts Falling Due After More Than One Year	9		(3,411,233 )		(3,642,777 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(896,000 )		(891,000 )

NET ASSETS			5,827,907		5,814,152

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			5,827,905		5,814,150

SHAREHOLDERS' FUNDS			5,827,907		5,814,152

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Metlane Limited

Balance Sheet (continued)

As At 30 October 2024

For the year ending 30 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr J Rye

Director

18 September 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Metlane Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02956706 . The registered office is 19 Blackwell Road, Huthwaite, Notts, NG17 2QS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. 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.

2.3. 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:

Freehold	Fair value (see below)
Plant & Machinery	15% RB
Motor Vehicles	25% RB
Fixtures & Fittings	15% RB

All freehold properties are investment properties, and valued according to the relevant policy.

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. 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.

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Metlane Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 October 2024

2.6. 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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

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.

3. Average Number of Employees

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

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost or Valuation
As at 31 October 2023	11,476,555	12,142	28,504	30,142	11,547,343
Additions	32,600	-	-	-	32,600
Disposals	(251,606 )	-	-	-	(251,606 )
Revaluation	15,784	-	-	-	15,784

As at 30 October 2024	11,273,333	12,142	28,504	30,142	11,344,121

Depreciation
As at 31 October 2023	-	12,020	28,308	29,499	69,827
Provided during the period	-	18	49	96	163

As at 30 October 2024	-	12,038	28,357	29,595	69,990

Net Book Value
As at 30 October 2024	11,273,333	104	147	547	11,274,131

As at 31 October 2023	11,476,555	122	196	643	11,477,516

All balances included within land and property above relate to investment properties. Investment properties are revalued annually, with values adjusted based on the movement in the house price index for the relevant local authority. Revaluations are not undertaken by a recognised professional.

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Metlane Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 October 2024

5. Investments

	Other
	£
Cost
As at 31 October 2023	100

As at 30 October 2024	100

Provision
As at 31 October 2023	-

As at 30 October 2024	-

Net Book Value
As at 30 October 2024	100

As at 31 October 2023	100

6. Stocks

	2024	2023
	£	£
Stock	28,500	31,000

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	22,267	33,902
Other debtors	36,906	36,906

	59,173	70,808

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	20,922	23,238
Bank loans and overdrafts	54,801	68,763
Amounts owed to group undertakings	175,032	185,773
Other creditors	1,005,049	987,258
Taxation and social security	-	4,972

	1,255,804	1,270,004

Bank borrowings are secured by a charge over certain of the company’s investment properties.

Repayments are made monthly, and interest is compounded at each repayment date.

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

	2024	2023
	£	£
Bank loans	929,021	986,471
Other creditors	2,482,212	2,656,306

	3,411,233	3,642,777

Of the creditors falling due after more than one year the following amounts are due after more than five years.

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Metlane Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 October 2024

	2024	2023
	£	£
Bank loans	709,818	711,420
Other Creditors	1,882,212	2,056,306

10. Share Capital

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

11. Related Party Transactions

At 30 October 2024 the company owed Dukeries Investments Limited £300,000 (2024: £300,000), a

balance which is interest free and repayable on demand. Dukeries Investments Limited is controlled by

members of directors family.

At 30 October 2024 the company owed the Metlane Pension Scheme £512,652 (2023: £495,045). Mr J

D Rye is a trustee and beneficiary of the scheme.

At 30 October 2024 the company owed £175,032 (2023 £185,773) to Metlane Lettings Limited, a wholly owned subsidiary. The loan was interest free and repayable on demand.

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