REGISTERED NUMBER: 07980440 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

METCAT LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

9

DIRECTORS:

J Bridgwood

J A Bridgwood

REGISTERED OFFICE:

Ground Floor

Custom House

Waterfront East

Brierley Hill

West Midlands

DY5 1XH

REGISTERED NUMBER:

07980440 (England and Wales)

AUDITORS:

Poole Waterfield Limited (Statutory Auditor)

Ground Floor

Custom House

Waterfront East

Brierley Hill

West Midlands

DY5 1XH

FIXED ASSETS

Intangible assets

4

88,725

131,738

Tangible assets

5

2,797,843

589,859

2,886,568

721,597

CURRENT ASSETS

Stocks

1,843,236

594,700

Debtors

6

1,718,708

2,256,093

Cash at bank and in hand

111,098

149,771

3,673,042

3,000,564

CREDITORS

Amounts falling due within one year

7

2,337,846

1,688,859

NET CURRENT ASSETS

1,335,196

1,311,705

TOTAL ASSETS LESS CURRENT LIABILITIES

4,221,764

2,033,302

CREDITORS

Amounts falling due after more than one year

8

(1,536,683

)

(158,334

)

PROVISIONS FOR LIABILITIES

11

(164,354

)

(126,750

)

NET ASSETS

2,520,727

1,748,218

CAPITAL AND RESERVES

Called up share capital

12

100

110

Capital redemption reserve

10

-

Retained earnings

2,520,617

1,748,108

SHAREHOLDERS' FUNDS

2,520,727

1,748,218

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

J A Bridgwood - Director

1.	STATUTORY INFORMATION

MetCat 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of fifteen years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost and 10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

The company's freehold property is represented by land and has not been depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Functional and presentation currency

The company's functional and presentation currency is GBP (£).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

183,000

161,293

344,293

AMORTISATION

At 1 April 2024

94,100

118,455

212,555

Charge for year

22,100

20,913

43,013

At 31 March 2025

116,200

139,368

255,568

NET BOOK VALUE

At 31 March 2025

66,800

21,925

88,725

At 31 March 2024

88,900

42,838

131,738

The 'other intangible assets' are represented by app software development costs.

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

-

141,792

1,199,657

Additions

2,115,343

18,500

153,810

Disposals

-

-

(13,000

)

At 31 March 2025

2,115,343

160,292

1,340,467

DEPRECIATION

At 1 April 2024

-

73,419

772,995

Charge for year

-

20,793

93,144

Eliminated on disposal

-

-

(9,880

)

At 31 March 2025

-

94,212

856,259

NET BOOK VALUE

At 31 March 2025

2,115,343

66,080

484,208

At 31 March 2024

-

68,373

426,662

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

54,738

146,776

1,542,963

Additions

48,286

52,500

2,388,439

Disposals

(6,785

)

(26,000

)

(45,785

)

At 31 March 2025

96,239

173,276

3,885,617

DEPRECIATION

At 1 April 2024

37,779

68,911

953,104

Charge for year

14,942

34,656

163,535

Eliminated on disposal

(6,785

)

(12,200

)

(28,865

)

At 31 March 2025

45,936

91,367

1,087,774

NET BOOK VALUE

At 31 March 2025

50,303

81,909

2,797,843

At 31 March 2024

16,959

77,865

589,859

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

1,656,095

1,949,697

Other debtors

62,613

306,396

1,718,708

2,256,093

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

100,000

100,000

Trade creditors

553,117

427,692

Amounts owed to group undertakings

500,000

620,781

Taxation and social security

337,291

26,541

Other creditors

847,438

513,845

2,337,846

1,688,859

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

58,334

158,334

Amounts owed to group undertakings

1,478,349

-

1,536,683

158,334

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.25

31.3.24

£

£

Within one year

5,610

3,660

Between one and five years

2,337

2,135

7,947

5,795

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

158,334

258,334

Invoice financing

627,058

-

785,392

258,334

As at 31st March 2025 fixed and floating charges were held by Lloyds Bank PLC.

11.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

164,354

126,750

Deferred

tax

£

Balance at 1 April 2024

126,750

Provided during year

37,604

Balance at 31 March 2025

164,354

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

Value:

£

£

100

Ordinary Shares

£1

100

100

10

Ordinary B Shares

£1

-

10

100

110

The 10 Ordinary B shares were redeemed by the company at par on 15th May 2024.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Helen Clare Gibbens FCCA (Senior Statutory Auditor)

for and on behalf of Poole Waterfield Limited (Statutory Auditor)

14.	RELATED PARTY DISCLOSURES

Balances outstanding from Wightwick Development Limited - £Nil (2024 - £9,700), This company is related by way of common shareholding.

Balances outstanding to J Bridgwood Holdings Limited - £1,978,349 (2024 - £620,781). This company is related by way of being the parent company.

15.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of J. Bridgwood Holdings Limited. The directors of MetCat Limited are the major shareholders in J. Bridgwood Holdings Limited.