Registration number: 08401638

MET Developments Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

MET Developments Ltd

Company Information

Directors

E J Miller M Adams

Registered office

DeVine House 1299-1301 London Road Leigh On Sea Essex SS9 2AD

Accountants

Kingswood Chase Consulting Ltd Accountants and taxation consultantsDeVine House 1299-1301 London Road Leigh On Sea Essex SS9 2AD

MET Developments Ltd

(Registration number: 08401638)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	38,957	26,949
Tangible assets	5	120,416	74,606
		159,373	101,555
Current assets
Stocks	6	55,100	541,620
Debtors	7	562,918	491,212
Cash at bank and in hand		837,495	419,052
		1,455,513	1,451,884
Creditors: Amounts falling due within one year	8	(657,512)	(836,001)
Net current assets		798,001	615,883
Total assets less current liabilities		957,374	717,438
Creditors: Amounts falling due after more than one year	8	(81,641)	(54,918)
Provisions for liabilities		-	(1)
Net assets		875,733	662,519
Capital and reserves
Called up share capital	9	2	2
Revaluation reserve		11,180	-
Retained earnings		864,551	662,517
Shareholders' funds		875,733	662,519

MET Developments Ltd

(Registration number: 08401638)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2025 and signed on its behalf by:
 

......................................... E J Miller Director

......................................... M Adams Director

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
DeVine House
1299-1301 London Road
Leigh On Sea
Essex
SS9 2AD
England

These financial statements were authorised for issue by the Board on 26 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% on reducing balance
Office equipment	25% on reducing balance

Intangible assets

Cryptocurrency is not amortised, but is revalued at market value as at the date if approval of the financial statements.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 April 2024	26,949	26,949
Revaluations	12,008	12,008
At 31 March 2025	38,957	38,957
Amortisation
Carrying amount
At 31 March 2025	38,957	38,957
At 31 March 2024	26,949	26,949

Cryptocurrency

Impairment

Cryptocurrency
Cryptocurrency impairment reversal has arisen through revaluation of the company's holdings as at the date of these financial statements The amount of reversal of impairment recognised in profit or loss is £828 (2024 - £8,927).

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	4,295	80,952	28,395	113,642
Additions	-	119,121	-	119,121
Disposals	-	(71,574)	-	(71,574)
At 31 March 2025	4,295	128,499	28,395	161,189
Depreciation
At 1 April 2024	3,081	16,912	19,043	39,036
Charge for the year	303	11,025	2,338	13,666
Eliminated on disposal	-	(11,929)	-	(11,929)
At 31 March 2025	3,384	16,008	21,381	40,773
Carrying amount
At 31 March 2025	911	112,491	7,014	120,416
At 31 March 2024	1,214	64,040	9,352	74,606

6

Stocks

	2025 £	2024 £
Other inventories	55,100	541,620

7

Debtors

Current	2025 £	2024 £
Trade debtors	-	2,089
Other debtors	562,918	489,123
	562,918	491,212

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		17,643	16,095
Trade creditors		26,235	49
Taxation and social security		74,436	95,353
Accruals and deferred income		1,784	1,463
Other creditors		537,414	723,041
		657,512	836,001

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,643 (2024 - £6,095).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		81,641	54,918

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £78,307l (2024 - £42,004)

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

10

Dividends

		2025		2024
		£		£
Interim dividend of £700.00 (2024 - £1,000.00) per ordinary share		1,400		2,000

11	Related party transactions

Loans to related parties

MET Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2025	Entities with joint control or significant influence £	Total £
At start of period	486,823	486,823
Advanced	61,747	61,747
At end of period	548,570	548,570

2024	Entities with joint control or significant influence £	Total £
At start of period	459,037	459,037
Advanced	27,786	27,786
At end of period	486,823	486,823

Terms of loans to related parties

Funds have been advanced to MET Concrete Supplies Ltd, a company controlled by the directors. The loans are interest free and repayable on demand.