REGISTERED NUMBER: 13438909 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

METAZN LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Statement of Financial Position

4

Notes to the Financial Statements

5

DIRECTOR:

M Mohsin

REGISTERED OFFICE:

Langley House

Park Road

London

N2 8EY

REGISTERED NUMBER:

13438909 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

Park Road

East Finchley

London

N2 8EY

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIRECTOR

M Mohsin held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Mohsin - Director

24 September 2025

TURNOVER

13,541,602

6,711,405

Cost of sales

(12,856,247

)

(6,310,639

)

GROSS PROFIT

685,355

400,766

Administrative expenses

(465,143

)

(290,417

)

220,212

110,349

Other operating income

2,176

-

OPERATING PROFIT

222,388

110,349

Interest payable and similar expenses

(6,205

)

(3,616

)

PROFIT BEFORE TAXATION

216,183

106,733

Tax on profit

(53,596

)

(23,493

)

PROFIT FOR THE FINANCIAL YEAR

162,587

83,240

CURRENT ASSETS

Stocks

532,631

105,500

Debtors

4

2,173,933

1,505,058

Cash at bank and in hand

540,996

944,530

3,247,560

2,555,088

CREDITORS

Amounts falling due within one year

5

2,627,384

2,097,499

NET CURRENT ASSETS

620,176

457,589

TOTAL ASSETS LESS CURRENT LIABILITIES

620,176

457,589

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

620,076

457,489

620,176

457,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 24 September 2025 and were signed by:

M Mohsin - Director

1.	STATUTORY INFORMATION

MetaZn Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company's functional and presentation currency is £ Sterling. Monetary amounts in these financial statements are rounded to nearest £.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the fair value of consideration receivable for the sale of goods and services in the ordinary course of business, excluding value-added tax (VAT), trade discounts, and returns.

Revenue is recognised when the significant risks and rewards of ownership of the goods have been transferred to the customer.

Turnover arising from the sourcing and supplying of zinc and related products is measured based on the agreed contract price with the customer, including any adjustments for price fluctuations, rebates, or other incentives. For long-term supply contracts, revenue is recognised when the performance obligations under the contract are satisfied, which is typically upon delivery or transfer of control.

Where sales are denominated in foreign currencies, turnover is translated into Sterling at the exchange rate prevailing at the date of the transaction. The company monitors foreign currency exposure and use forward contracts to mitigate the risk of exchange rate fluctuations.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

The Company only enters into basic financial instrument transaction that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to and from related parties and investments in ordinary shares.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

Impairment of tangible and intangible assets

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an assets may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior period may no longer exist or may have decreased.

Debtors, creditors, provision for liabilities

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

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

Provision for liabilities: Provisions are made where an event has taken place that gives the Company a legal obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provision are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of then expenditure to settle the obligation, taking into account relevant risks and uncertainties

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

1,556,525

1,163,725

Amounts owed by group undertakings

520,841

20,500

Other debtors

96,567

320,833

2,173,933

1,505,058

Included within other debtors is an amount of £Nil (2022 : £192,813) owed by RBS Trade Finance.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

1,593,033

67,007

Amounts owed to group undertakings

-

1,054,881

Taxation and social security

54,555

23,780

Other creditors

979,796

951,831

2,627,384

2,097,499

Included within other creditors is accrued expenses of £3,000 (2023: £3,000).

6.	FINANCIAL INSTRUMENTS

The company has a trade financing agreement with Virgin Money Trade Finance, the factor. This facility has been secured by way of fixed and floating charge including that of negative pledge against Company's assets. At the balance sheet date, the total debt secured against trade debtors of the company is £958,823 (2023: £942,544). This balance is shown within other creditors due within one year.

7.	ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking, who held 100% of the share capital during this period, is Meta Equity Holdings Limited, registered in England and Wales, registration number 14875181 and registered office address is at Langley House, Park Road, London N2 8EY, England. The parent company, Meta Equity Holdings Limited, is controlled by Mr M Mohsin by virtue of majority shareholding.