Registration number: NI615384

Metloc Systems Ltd

(Registration number: NI615384)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	180,129	122,027
Current assets
Stocks	5	699,284	136,872
Debtors	6	968,157	1,166,605
Cash at bank and in hand		403,280	746,028
		2,070,721	2,049,505
Creditors: Amounts falling due within one year	7	(735,275)	(794,165)
Net current assets		1,335,446	1,255,340
Total assets less current liabilities		1,515,575	1,377,367
Provisions for liabilities		(10,973)	(7,692)
Net assets		1,504,602	1,369,675
Capital and reserves
Called up share capital	8	75	75
Capital redemption reserve		25	25
Retained earnings		1,504,502	1,369,575
Shareholders' funds		1,504,602	1,369,675

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Metloc Systems Ltd

(Registration number: NI615384)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 22 December 2025
 

......................................... Mr William Maurice Brown Director

Metloc Systems 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 Northern Ireland.

The address of its registered office is: 55 Upper Gransha Road, Bangor, Co. Down, BT19 7QE.

These financial statements were authorised for issue by the director on 22 December 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.

Metloc Systems 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	20% straight line basis
Computer equipment	20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Metloc Systems Ltd

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

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2024 - 6).

4	Tangible assets

	Computer equipment  £	Building  £	Plant & machinery £	Total £
Cost or valuation
At 1 April 2024	40,595	91,257	19,025	150,877
Additions	-	44,980	24,500	69,480
At 31 March 2025	40,595	136,237	43,525	220,357
Depreciation
At 1 April 2024	17,975	-	10,875	28,850
Charge for the year	8,118	-	3,260	11,378
At 31 March 2025	26,093	-	14,135	40,228
Carrying amount
At 31 March 2025	14,502	136,237	29,390	180,129
At 31 March 2024	22,620	91,257	8,150	122,027

5

Stocks

	2025 £	2024 £
Stock and Work In Progress	699,284	136,872

Metloc Systems Ltd

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

6

Debtors

Current	2025 £	2024 £
Trade debtors	901,335	1,162,881
Other debtors	66,822	3,724
	968,157	1,166,605

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	625,168	669,691
Taxation and social security	53,956	68,183
Accruals and deferred income	2,500	2,500
Other creditors	53,651	53,791
	735,275	794,165

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.10 each	750	75	750	75