REGISTERED NUMBER: 04530199 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

METRO FLOAT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C R Hill

SECRETARY:

Mrs G Hill

REGISTERED OFFICE:

Hanbury Wharf

Droitwich

Worcestershire

WR9 7DU

REGISTERED NUMBER:

04530199 (England and Wales)

ACCOUNTANTS:

Neuhoff & Co

Chartered Accountants

Claydons Barns

11 Towcester Road

Whittlebury

Northamptonshire

NN12 8XU

FIXED ASSETS

Tangible assets

4

7,253

17,374

CURRENT ASSETS

Stocks

267,245

267,245

Debtors

5

216,529

823,078

Cash at bank

40,481

41,235

524,255

1,131,558

CREDITORS

Amounts falling due within one year

6

(1,690,664

)

(2,233,524

)

NET CURRENT LIABILITIES

(1,166,409

)

(1,101,966

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,159,156

)

(1,084,592

)

CREDITORS

Amounts falling due after more than one year

7

(26,525

)

(27,595

)

NET LIABILITIES

(1,185,681

)

(1,112,187

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,185,781

)

(1,112,287

)

SHAREHOLDERS' FUNDS

(1,185,681

)

(1,112,187

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 22 December 2025 and were signed by:

C R Hill - Director

1.	STATUTORY INFORMATION

Metro Float Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis as the director considers that the the company can continue to meet all its financial obligations as they fall due throughout the period of twelve months from the date of the approval of those financial statements.

Turnover

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

The company receives stage payments from its customers and makes stage payments to its suppliers in respect of new boat orders. The full sale price and the related costs of manufacture are recognised in the Profit and Loss Account only upon the delivery of the new boat to the customer.

Tangible fixed assets

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

Land and buildings

-

10% on cost and at varying rates on cost

Plant and machinery etc

-

25% on cost and at varying rates on cost

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

70,815

60,731

131,546

DEPRECIATION

At 1 April 2024

55,167

59,005

114,172

Charge for year

8,786

1,335

10,121

At 31 March 2025

63,953

60,340

124,293

NET BOOK VALUE

At 31 March 2025

6,862

391

7,253

At 31 March 2024

15,648

1,726

17,374

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

49,631

148,716

Other debtors

166,898

674,362

216,529

823,078

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

35,908

816,725

Taxation and social security

132,221

5,006

Other creditors

1,512,535

1,401,793

1,690,664

2,233,524

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

26,525

27,595

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

893,471

903,471

A loan of £893,471 (2024 - £903,471 from a family member is secured under the terms of a Debenture created on 30 March 2010, registered on 8 April 2010. The charge is a fixed and floating charge over the undertaking and all the property and assets of the company. This loan is not repayable by instalments.

9.	FINANCIAL INSTRUMENTS

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related third parties and investments in non-puttable ordinary shares.

10.	RELATED PARTY DISCLOSURES