META DATA SYSTEMS LIMITED - Filleted accounts

Registered number

11052780

META DATA SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

PAGES FOR FILING WITH REGISTRAR

META DATA SYSTEMS LIMITED

CONTENTS



Page

Balance sheet	1 - 2

Notes to the financial statements	3 - 8

META DATA SYSTEMS LIMITED

Balance Sheet

as at 31 December 2024
Company Registration No.	11052780



Notes			2024			2023
£				£
Fixed assets
Intangible assets	3		-			4,674
Tangible assets	4		369,352			56,536
			369,352			61,210

Current assets
Debtors	5	385,239			68,729
Cash at bank and in hand		193,097			97,195
		578,336			165,924

Creditors: amounts falling due within one year	6	(6,879,059)			(4,129,913)

Net current liabilities			(6,300,723)			(3,963,989)

Total assets less current liabilities			(5,931,371)			(3,902,779)

Creditors: amounts falling due after more than one year	7		(216,750)			-



Net liabilities			(6,148,121)			(3,902,779)

Capital and reserves
Called up share capital			111			111
Profit and loss account			(6,148,232)			(3,902,890)

Shareholders' funds			(6,148,121)			(3,902,779)


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..
John Louis Towers
Director

Approved by the board on 17 December 2025

META DATA SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024



1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to the small companies regime. The disclosure requirements of section 1A have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company's director who is also a shareholder. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholder and director has expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment			25% straight line
	Motor vehicles			10% straight line
	Computer equipment			33.33% straight line

	Financial instruments
	The company only enters into basic financial statements transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

	Taxation
	The tax expense represents the sum of the tax currently payable and deferred tax.

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

	Deferred tax
	Deferred tax liabilities are generally recognised for all timing differences and 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 profits. Such assets and liabilities are not recognised if the timing differences arises from goodwill or from the initial recognition of the assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the assets is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities relate to taxes levied by the same tax authority.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Retirement benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					19		20


3	Intangible fixed assets							£
	Development costs:

	Cost
	At 1 January 2024							30,530
	At 31 December 2024							30,530

	Amortisation
	At 1 January 2024							25,856
	Provided during the year							4,674
	At 31 December 2024							30,530

	Net book value
	At 31 December 2024							-
	At 31 December 2023							4,674

	Development costs are being amortised evenly over their estimated useful life of five years

4	Tangible fixed assets
		Land and buildings		Fixtures, fittings and equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	-		115,944		39,994		155,938
	Additions	329,770		-		-		329,770
	Disposals	-		(104,087)		(5,495)		(109,582)
	At 31 December 2024	329,770		11,857		34,499		376,126

	Depreciation
	At 1 January 2024	-		95,069		4,333		99,402
	Charge for the year	-		14,609		3,999		18,608
	On disposals	-		(104,082)		(7,154)		(111,236)
	At 31 December 2024	-		5,596		1,178		6,774

	Net book value
	At 31 December 2024	329,770		6,261		33,321		369,352
	At 31 December 2023	-		20,875		35,661		56,536




5	Debtors					2024		2023
£							£

	Trade debtors					165,132		31,622
	Other debtors					195,107		29,607
	Directors' current account					25,000		7,500
						385,239		68,729

	The directors' current account represent amount due from directors of the company. The maximum amount outstanding during the year was £25,000 (2023: £7,500) and this amount was repaid.

6	Creditors: amounts falling due within one year					2024		2023
£							£

	Obligations under finance lease and hire purchase contracts					108,000		-
	Trade creditors					18,927		2,254
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					6,669,023		4,063,609
	Other taxes and social security costs					33,433		15,725
	Other creditors					2,566		3,080
	Accrued and deferred income					47,110		45,245
						6,879,059		4,129,913

7	Creditors: amounts falling due after one year					2024		2023
£							£

	Obligations under finance lease and hire purchase contracts					216,750		-


8	Other information

	Meta Data Systems Limited is a private company limited by shares and incorporated in England and Wales. The registered office is: Uncommon, 25 Horsell Road, London , N5 1XL.