REGISTERED NUMBER: 12379136 (England and Wales)

METAL PROFILES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C P Maher

REGISTERED OFFICE:

71-75 Shelton Street

Covent Garden

London

WC2H 9JQ

REGISTERED NUMBER:

12379136 (England and Wales)

ACCOUNTANTS:

Clay Ratnage Strevens & Hills

Chartered Accountants

Suite D, The Business Centre

Faringdon Avenue

Romford

Essex

RM3 8EN

FIXED ASSETS

Tangible assets

4

316,088

281,249

CURRENT ASSETS

Stocks

5

75,000

60,000

Debtors

6

554,000

289,557

Cash at bank

66,942

75,081

695,942

424,638

CREDITORS

Amounts falling due within one year

7

472,687

336,547

NET CURRENT ASSETS

223,255

88,091

TOTAL ASSETS LESS CURRENT LIABILITIES

539,343

369,340

CREDITORS

Amounts falling due after more than one year

8

(207,517

)

(202,805

)

PROVISIONS FOR LIABILITIES

11

(74,078

)

(42,941

)

NET ASSETS

257,748

123,594

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

257,648

123,494

257,748

123,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 23 December 2025 and were signed by:

C P Maher - Director

1.	STATUTORY INFORMATION

Metal Profiles 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally 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, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Classification of financial liabilities: 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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

369,694

39,776

8,693

418,163

Additions

76,359

41,500

6,654

124,513

Disposals

(4,000

)

-

(2,000

)

(6,000

)

At 31 December 2024

442,053

81,276

13,347

536,676

DEPRECIATION

At 1 January 2024

115,916

16,506

4,492

136,914

Charge for year

65,263

16,193

2,218

83,674

At 31 December 2024

181,179

32,699

6,710

220,588

NET BOOK VALUE

At 31 December 2024

260,874

48,577

6,637

316,088

At 31 December 2023

253,778

23,270

4,201

281,249

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

328,520

37,082

365,602

Additions

43,000

41,500

84,500

At 31 December 2024

371,520

78,582

450,102

DEPRECIATION

At 1 January 2024

97,435

6,562

103,997

Charge for year

52,249

16,019

68,268

At 31 December 2024

149,684

22,581

172,265

NET BOOK VALUE

At 31 December 2024

221,836

56,001

277,837

At 31 December 2023

231,085

30,520

261,605

5.

STOCKS

2024

2023

£

£

Stocks

75,000

60,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

506,601

255,605

Other debtors

47,399

33,952

554,000

289,557

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 9)

5,556

5,556

Trade creditors

167,264

124,996

Taxation and social security

180,144

110,744

Other creditors

119,723

95,251

472,687

336,547

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 9)

24,541

30,096

Other creditors

182,976

172,709

207,517

202,805

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,318

7,874

9.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

5,556

5,556

Amounts falling due between one and two years:

Bank loans - 1-2 years

5,556

5,556

Amounts falling due between two and five years:

Bank loans - 2-5 years

16,667

16,666

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,318

7,874

10.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

72,389

92,095

Between one and five years

182,976

172,709

255,365

264,804

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

74,078

42,941

Deferred

tax

£

Balance at 1 January 2024

42,941

Charge to Income Statement during year

31,137

Balance at 31 December 2024

74,078