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REGISTERED NUMBER: 02886143 (England and Wales)

| Merton Metals Limited |

| Unaudited Financial Statements |

| for the Year Ended 30 April 2025 |

| Merton Metals Limited (Registered number: 02886143) |

Contents of the Financial Statements

for the Year Ended 30 April 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 3 |

| Merton Metals Limited |

Company Information

for the Year Ended 30 April 2025

| DIRECTORS: | C L Van Den Berg

| Mrs K Y Van Den Berg

| REGISTERED OFFICE: | Unit 2 Dunheved Court

| Pennygillam Way

| LAUNCESTON

| Cornwall

| PL15 7ED

| REGISTERED NUMBER: | 02886143 (England and Wales)

| ACCOUNTANTS: | ATC Advisors

| Chartered Accountants

| Unit 2 Dunheved Court

| Pennygillam Way

| LAUNCESTON

| Cornwall

| PL15 7ED

| Merton Metals Limited (Registered number: 02886143) |

Statement of Financial Position

30 April 2025

| 2025 |  | 2024

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 5 | 10,034 |  | 10,034 |  |

Cash at bank | 408 |  | 201,513 |  |

10,442 |  | 211,547 |  |

CREDITORS

Amounts falling due within one year | 6 | 18,159 |  | 245,221 |  |

NET CURRENT LIABILITIES | (7,717 | ) | (33,674 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (7,717 | ) | (33,674 | ) |

CAPITAL AND RESERVES

Called up share capital | 2 |  | 2 |  |

Capital redemption reserve | 4,998 |  | 4,998 |  |

Retained earnings | (12,717 | ) | (38,674 | ) |

(7,717 | ) | (33,674 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 6 January 2026 and were signed on its behalf by:

C L Van Den Berg - Director

| Merton Metals Limited (Registered number: 02886143) |

Notes to the Financial Statements

for the Year Ended 30 April 2025

1. | STATUTORY INFORMATION

| Merton Metals 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.

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 disclosure requirements of section 1A of FRS 102 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 £.

| Turnover

| Turnover represents amounts receivable for goods net of value added tax and trade discounts.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probably that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Tangible fixed assets

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

| Fixtures and fittings | - | 50% on cost

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Foreign exchange

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| Merton Metals Limited (Registered number: 02886143) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Government grants

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

| Government grants are recognised at the fair value of the asset received or receivable when there is

| reasonable assurance that the grant conditions will be met and the grants will be received.

| A grant that specifies performance conditions is recognised in income when the performance conditions are

| met. Where a grant does not specify performance conditions it is recognised in income when the proceeds

| are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a

| liability.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| Cash and cash equivalents

| Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

| Merton Metals Limited (Registered number: 02886143) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section

| 12 ‘Other Financial Instruments Issues’ 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.

| Basic financial assets

| Basic financial assets, which include debtors and bank balances are initially measured at transaction price

| including transaction costs and are subsequently carried at amortised cost using the effective interest

| method. Financial assets classified as receivable within one year are not amortised.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of

| impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that

| occurred after the initial recognition of the financial asset, the estimated future cash flows have been

| affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the

| present value of the estimated cash flows discounted at the asset’s original effective interest rate. The

| impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was

| recognised, the impairment is reversed. The reversal is such that the current carrying amount does not

| exceed what the carrying amount would have been, had the impairment not previously been recognised.

| The impairment reversal is recognised in profit or loss.

| 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.

| 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 deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities includes creditors that is initially recognised at transaction price. Financial liabilities

| classified as payable within one year are not amortised.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course

| of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one

| year or less. Trade creditors are recognised initially at transaction price and subsequently measured at

| amortised cost using the effective interest method.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged

| or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

| Dividends payable on equity instruments are recognised as liabilities once they are no longer at the

| discretion of the company.

3. | EMPLOYEES AND DIRECTORS

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

| Merton Metals Limited (Registered number: 02886143) |

Notes to the Financial Statements - continued

for the Year Ended 30 April 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 May 2024

| and 30 April 2025 | 7,249 |  |

| DEPRECIATION

| At 1 May 2024

| and 30 April 2025 | 7,249 |  |

| NET BOOK VALUE

| At 30 April 2025 | - |  |

| At 30 April 2024 | - |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Other debtors | 10,034 |  | 10,034 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | - |  | 610 |  |

| Taxation and social security | 8,093 |  | 2,746 |  |

| Other creditors | 10,066 |  | 241,865 |  |

18,159 |  | 245,221 |  |

7. | RELATED PARTY TRANSACTIONS

| Continental Stainless Limited is controlled by the directors of Merton Metals Limited. During the year the

| company charged management recharges for costs incurred on their behalf of £34,000 (2024: £179,149).

| At 30 April 2025 the company owed £8,411 to (2024: owed £239,557 ) Continental Stainless Limited.