Metalite Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Metalite Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02517892 . The registered office is 121 Barkby Road, Troon Industrial Area, Leicester, LE4 9LU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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 £.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	2% on cost
Plant & Machinery	10% on reducing balance
Motor Vehicles	25% on cost

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Metalite Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

...CONTINUED

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Metalite Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.10. Provisions and Contingencies - continued

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.12. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 December 2024	51,903	2,904	11,788	66,595

As at 30 November 2025	51,903	2,904	11,788	66,595

Depreciation
As at 1 December 2024	38,252	541	11,788	50,581
Provided during the period	6,825	236	-	7,061

As at 30 November 2025	45,077	777	11,788	57,642

...CONTINUED

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Metalite Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Net Book Value
As at 30 November 2025	6,826	2,127	-	8,953

As at 1 December 2024	13,651	2,363	-	16,014

5. Investments

	Listed
	£
Cost or Valuation
As at 1 December 2024	30,000
Additions	20,000

As at 30 November 2025	50,000

Provision
As at 1 December 2024	-

As at 30 November 2025	-

Net Book Value
As at 30 November 2025	50,000

As at 1 December 2024	30,000

6. Stocks

	2025	2024
	£	£
Work in progress	-	1,235

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	-	400
Other debtors	39,832	39,410

	39,832	39,810

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	6,901	1,400
Taxation and social security	-	116

	6,901	1,516

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Metalite Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	30	30

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		8,953		16,014
Investments	5		50,000		30,000

			58,953		46,014
CURRENT ASSETS
Stocks	6	-		1,235
Debtors	7	39,832		39,810
Cash at bank and in hand		156,601		164,362

		196,433		205,407
Creditors: Amounts Falling Due Within One Year	8	(6,901 )		(1,516 )

NET CURRENT ASSETS (LIABILITIES)			189,532		203,891

TOTAL ASSETS LESS CURRENT LIABILITIES			248,485		249,905

NET ASSETS			248,485		249,905

CAPITAL AND RESERVES
Called up share capital	9		30		30
Profit and Loss Account			248,455		249,875

SHAREHOLDERS' FUNDS			248,485		249,905