Metex Limited - Filleted accounts

Registered number

09300315

Metex Limited

Filleted Accounts

30 November 2025

Metex Limited
Registered number:		09300315
Balance Sheet
as at 30 November 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		44,483			32,621
Tangible assets	4		83,386			77,954
Investments	5		4,945			234,142
			132,814			344,717

Current assets
Stocks		590,030			585,841
Debtors	6	1,293,100			596,185
Cash at bank and in hand		166,422			274,446
		2,049,552			1,456,472

Creditors: amounts falling due within one year	7	(556,465)			(444,708)

Net current assets			1,493,087			1,011,764

Total assets less current liabilities			1,625,901			1,356,481

Creditors: amounts falling due after more than one year	8		-			(4,293)

Provisions for liabilities			(23,507)			(23,839)


Net assets			1,602,394			1,328,349

Capital and reserves
Called up share capital			100			100
Profit and loss account			1,602,294			1,328,249

Shareholders' funds			1,602,394			1,328,349

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D Hopkins
Director
Approved by the board on 21 August 2026

Metex Limited
Notes to the Accounts
for the year ended 30 November 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 3 to 10 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					11		12


3	Intangible fixed assets							£
	Software and patents:

	Cost
	At 1 December 2024							67,227
	Additions							25,416
	Disposals							(11,798)
	At 30 November 2025							80,845

	Amortisation
	At 1 December 2024							34,606
	Provided during the year							12,917
	On disposals							(11,161)
	At 30 November 2025							36,362

	Net book value
	At 30 November 2025							44,483
	At 30 November 2024							32,621

	Software is being written off in equal annual instalments over the estimated economic life of 5 years. Patents are being written off in equal annual instalments over its estimated economic life of 10 years


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 December 2024	10,958		94,681		29,280		134,919
	Additions	-		20,413		2,370		22,783
	Disposals	-		(5,225)		(4,100)		(9,325)
	At 30 November 2025	10,958		109,869		27,550		148,377

	Depreciation
	At 1 December 2024	7,575		34,186		15,204		56,965
	Charge for the year	1,876		10,547		3,126		15,549
	On disposals	-		(4,653)		(2,870)		(7,523)
	At 30 November 2025	9,451		40,080		15,460		64,991

	Net book value
	At 30 November 2025	1,507		69,789		12,090		83,386
	At 30 November 2024	3,383		60,495		14,076		77,954


5	Investments

Other
investments
£
	Cost
	At 1 December 2024							234,142
	Additions							390,383
	Disposals							(619,580)

	At 30 November 2025							4,945


6	Debtors					2025		2024
£							£

	Trade debtors					316,378		283,945
	Directors' loan accounts					10,000		3,000
	Other debtors (including loan to related party)					966,722		309,240
						1,293,100		596,185


7	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					4,085		10,052
	Trade creditors					311,155		272,682
	Taxation and social security costs					195,232		143,811
	Directors loan account					100		-
	Other creditors					45,893		18,163
						556,465		444,708


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					-		4,293


9	Other financial commitments					2025		2024
£							£

	Total future minimum payments under non-cancellable operating leases					32,279		83,791


10	Related party transactions

	The company has provided an interest free loan with no fixed repayment terms to Menai Group Ltd, a company under the common control of the director/shareholders. The loan was advanced to support construction costs. At the year end the balance outstanding was £820,944 (2024: £257,217) and this is included within other debtors.
	During the year the company acquired 49.9% of Nordisk Innovation Ltd and transferred trade, valued at £99,700, included in other operating income. The transfer has been treated as a loan receivable from the associate attracting interest at 6% per annum with no fixed repayment terms. At the year end the balance outstanding was £102,193.

11	Other information

	Metex Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Basepoint Business Centre
	Rivermead Drive
	Swindon
	Wilts
	SN5 7EX