REGISTERED NUMBER: 10798894 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Metkey 1 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Singh

REGISTERED OFFICE:

The Mills

Canal Street

Derby

Derbyshire

DE1 2RJ

REGISTERED NUMBER:

10798894 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

CURRENT ASSETS

Stocks

1,686,768

1,686,768

Debtors

4

204,119

182,109

Cash at bank

9,077

5,107

1,899,964

1,873,984

CREDITORS

Amounts falling due within one year

5

770,284

1,043,593

NET CURRENT ASSETS

1,129,680

830,391

TOTAL ASSETS LESS CURRENT LIABILITIES

1,129,680

830,391

CREDITORS

Amounts falling due after more than one year

6

997,567

742,251

NET ASSETS

132,113

88,140

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

132,013

88,040

132,113

88,140

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 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, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

S Singh - Director

1.	STATUTORY INFORMATION

Metkey 1 Ltd 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.

Stocks

Stock is valued at the lower of cost and net realisable value. Cost represents the purchase price in addition to any legal fees and refurbishment costs. Net realisable value is based on the estimated selling price less further costs expected to be incurred in completion and disposal.

At each reporting date, stock is assessed for expected losses and if a loss is expected then this is recognised immediately in the Profit and Loss Account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

20,132

2,122

Amounts owed by related parties

166,048

166,035

Other debtors

1,570

1,264

Prepayments and accrued income

16,369

12,688

204,119

182,109

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

75,051

29,884

Trade creditors

109

2

Amounts owed to related parties

676,780

983,313

Tax

14,658

26,708

Other creditors

3,686

3,686

770,284

1,043,593

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

9,788

9,507

Other bank loans - 1-2 years

65,505

20,612

Bank loans - 2-5 years

3,166

14,554

Other bank loans - 2-5 years

196,515

61,835

Other bank loans > 5 years

722,593

635,743

997,567

742,251

Amounts falling due in more than five years:

Repayable by instalments

Other bank loans > 5 years

722,593

635,743

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Other bank loans

1,050,117

738,802

Other loans are secured against the properties to which they relate to.