Company No: 03278548 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	41,249		54,572
		41,249		54,572
Current assets
Debtors	4	8,199		3,684
Cash at bank and in hand		25,314		142,402
		33,513		146,086
Creditors: amounts falling due within one year	5	( 15,477)		( 70,171)
Net current assets		18,036		75,915
Total assets less current liabilities		59,285		130,487
Provision for liabilities	6	( 7,837)		( 13,643)
Net assets		51,448		116,844
Capital and reserves
Called-up share capital	7	100		100
Profit and loss account		51,348		116,744
Total shareholders' funds		51,448		116,844

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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Methis Limited (registered number: 03278548) were approved and authorised for issue by the Board of Directors on 14 May 2025. They were signed on its behalf by:

Mr G Morrison Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Methis Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles	25 % reducing balance
Office equipment	6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 April 2024	67,340		6,405		73,745
At 31 March 2025	67,340		6,405		73,745
Accumulated depreciation
At 01 April 2024	17,887		1,286		19,173
Charge for the financial year	12,363		960		13,323
At 31 March 2025	30,250		2,246		32,496
Net book value
At 31 March 2025	37,090		4,159		41,249
At 31 March 2024	49,453		5,119		54,572

4. Debtors

	2025		2024
	£		£
Trade debtors	0		2,386
Other debtors	8,199		1,298
	8,199		3,684

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	7,002		9,930
Taxation and social security	6,475		57,187
Other creditors	2,000		3,054
	15,477		70,171

6. Deferred tax

	2025		2024
	£		£
At the beginning of financial year	( 13,643)		( 17,308)
Credited to the Statement of Income and Retained Earnings	5,806		3,665
At the end of financial year	( 7,837)		( 13,643)

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
20 Ordinary A shares of £ 1.00 each	20		20
80 Ordinary B shares of £ 1.00 each	80		80
	100		100

8. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Advances to directors. Interest charged at HMRC official rate.	7,918		0