Metal Process Services Limited 31/01/2025 iXBRL

Company registration number: 03165356

Metal Process Services Limited

Unaudited filleted financial statements

31 January 2025

Metal Process Services Limited

Contents

Statement of financial position

Notes to the financial statements

Metal Process Services Limited

Statement of financial position

31 January 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	659,576		435,162
		_________		_________
			659,576		435,162

Current assets
Stocks	6	369,179		192,835
Debtors	7	3,819,705		3,416,016
Cash at bank and in hand		8,453		5,901
		_________		_________
		4,197,337		3,614,752
Creditors: amounts falling due
within one year	8	( 1,799,457)		( 1,398,603)
		_________		_________
Net current assets			2,397,880		2,216,149
			_________		_________
Total assets less current liabilities			3,057,456		2,651,311

Creditors: amounts falling due
after more than one year	9		( 256,713)		( 345,031)

Provisions for liabilities			( 157,289)		( 100,954)

			_________		_________
Net assets			2,643,454		2,205,326
			_________		_________

Capital and reserves
Called up share capital	11		100		100
Profit and loss account			2,643,354		2,205,226
			_________		_________
Shareholders funds			2,643,454		2,205,326
			_________		_________

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 29 October 2025 , and are signed on behalf of the board by:

Dr Russ Kingswell

Director

Company registration number: 03165356

Metal Process Services Limited

Notes to the financial statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Wharf Road Industrial Estate, Pinxton, Nottinghamshire, NG16 6LE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Long leasehold property	-	20 %	straight line
Plant and machinery	-	20 %	straight line
Fittings fixtures and equipment	-	20% & 33% straight line
Motor vehicles	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 67 (2024: 58 ).

5. Tangible assets

	Long leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 February 2024	85,733	1,594,136	129,791	111,540	1,921,200
Additions	-	319,892	16,101	-	335,993
	_________	_________	_________	_________	_________
At 31 January 2025	85,733	1,914,028	145,892	111,540	2,257,193
	_________	_________	_________	_________	_________
Depreciation
At 1 February 2024	84,562	1,234,769	121,534	45,173	1,486,038
Charge for the year	928	101,397	2,005	7,249	111,579
	_________	_________	_________	_________	_________
At 31 January 2025	85,490	1,336,166	123,539	52,422	1,597,617
	_________	_________	_________	_________	_________
Carrying amount
At 31 January 2025	243	577,862	22,353	59,118	659,576
	_________	_________	_________	_________	_________
At 31 January 2024	1,171	359,367	8,257	66,367	435,162
	_________	_________	_________	_________	_________

6. Stocks

	2025	2024
	£	£
Raw materials and consumables	254,730	168,435
Work in progress	114,449	24,400
	_________	_________
	369,179	192,835
	_________	_________

7. Debtors

	2025	2024
	£	£
Trade debtors	1,343,214	949,736
Amounts owed by group undertakings and undertakings in which the company has a participating interest	2,301,060	2,277,059
Other debtors	175,431	189,221
	_________	_________
	3,819,705	3,416,016
	_________	_________

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	619,000	554,623
Trade creditors	654,396	447,740
Taxation and social security	259,468	210,880
Other creditors	266,593	185,360
	_________	_________
	1,799,457	1,398,603
	_________	_________

The company has given fixed and floating charges to guarantee debts owed by its parent company to other parties.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	86,932	161,445
Other creditors	169,781	183,586
	_________	_________
	256,713	345,031
	_________	_________

The company has given fixed and floating charges to guarantee debts owed by its parent company to other parties.

10. Obligations under finance leases

Company lessee

The total future minimum lease payments under finance lease agreements are as follows:

	2025	2024
	£	£
Not later than 1 year	97,837	54,217
Later than 1 year and not later than 5 years	169,781	188,686
	_________	_________
	267,618	242,903
	_________	_________
Present value of minimum lease payments	267,618	242,903
	_________	_________

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A and B shares of £ 1.00 each	100	100	100	100
	_________	_________	_________	_________

12. Operating leases

The company as lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:


	£	£

Not later than 1 year	75,000	-
Later than 1 year and not later than 5 years	212,500	-
	_________	_________
	287,500	-
	_________	_________

13. Controlling party

The immediate parent company is Metal Process Services Holdings Limited , a company incorporated in England & Wales (Registration number: 11259398). Metal Process Services Holdings Limited is controlled by its directors in equal shares.