Metadeck Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Metadeck Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI632116 . The registered office is 36 The Meadows, Derry, BT48 8RJ.

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.

2.2. 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.

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.

Annual software subscriptions

Annual subscriptions are recognised by reference to the period of the contract based on renewal Revenue relating to periods beyond the year-end date are deferred in line with applicable accounting standards.

2.3. 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:

Freehold	15% straight line
Computer Equipment	33% straight line

2.4. Financial Instruments

The company has chosen to apply the provisions of Sections 11 and 12 of FRS 102 to all of its financial instruments. The company only enters into basic financial instruments transactions. These result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks, and loans to related parties.

Financial assets

Basic financial assets are initially recognised at transaction price. This includes trade debtors, amounts owed by the director and other related parties, and cash and bank balances. Where the arrangement is a financing transaction, they are initially measured at the present value of the future receipts, discounted at a market rate of interest. They are subsequently carried at amortised cost using the effective interest method.

Loans advanced to the director and to related parties are interest-bearing and repayable on demand. They are therefore classified as due within one year and measured at the amount receivable.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between its carrying amount and the present value of the estimated future cash flows, discounted at the asset’s original effective interest rate. The loss is recognised in profit or loss.

Financial liabilities

Basic financial liabilities are initially recognised at transaction price, unless the arrangement is a financing transaction. They include trade creditors, accruals, other creditors and bank loans. In a financing transaction, the liability is measured at the present value of the future payments, discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services acquired in the ordinary course of business from suppliers. They are classified as current liabilities if payment is due within one year or less. Otherwise they are presented as non-current liabilities.

...CONTINUED

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Metadeck Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.4. Financial Instruments - continued

Interest-bearing bank loans are subsequently measured at amortised cost using the effective interest method, with interest recognised in profit or loss as a finance cost.

Derecognition

Financial assets are derecognised when the contractual rights to the cash flows expire or are settled. They are also derecognised when substantially all the risks and rewards of ownership are transferred to another party. Financial liabilities are derecognised when the obligation is discharged, cancelled or expires.

Offsetting

Financial assets and liabilities are offset and the net amount reported in the balance sheet only where:

there is a currently enforceable legal right to set off the recognised amounts, and
there is an intention to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.6. 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.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2025: 5)

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Metadeck Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

4. Tangible Assets

	Land & Property
	Freehold	Computer Equipment	Total
	£	£	£
Cost
As at 1 July 2025	34,460	20,342	54,802
Additions	3,003	6,867	9,870

As at 30 June 2026	37,463	27,209	64,672

Depreciation
As at 1 July 2025	22,404	14,982	37,386
Provided during the period	4,751	4,763	9,514

As at 30 June 2026	27,155	19,745	46,900

Net Book Value
As at 30 June 2026	10,308	7,464	17,772

As at 1 July 2025	12,056	5,360	17,416

5. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	49,640	30,379
Other debtors	71,361	81,204

	121,001	111,583

6. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	1,222	8,629
Bank loans and overdrafts	2,722	6,333
Other loans	12,756	-
Other creditors	39,632	35,535
Taxation and social security	43,059	43,384

	99,391	93,881

7. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	1	1

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Metadeck Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 July 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 30 June 2026
	£	£	£	£	£
Mr Declan McDonough	38,060	40,066	37,496	-	42,492

The above loan is unsecured and repayable on demand. Interest is charged on a rolling basis and is included in the closing balance above. The loan is cleared within 9 months of year-end date.

9. Related Party Transactions

During the year, the company advanced loans to the director and to a participator as follows:

- Loans advanced plus personal costs = £76,024

- Company expenses = £11,240

- Dividends declared = £73,000
- Interest charged = £3,539

Interest has been charged on the sums advanced. The amount owed at the year-end date was £69,687. This is included at Other Debtors at note 5.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		17,772		17,416

			17,772		17,416
CURRENT ASSETS
Debtors	5	121,001		111,583
Cash at bank and in hand		16,485		36,631

		137,486		148,214
Creditors: Amounts Falling Due Within One Year	6	(99,391 )		(93,881 )

NET CURRENT ASSETS (LIABILITIES)			38,095		54,333

TOTAL ASSETS LESS CURRENT LIABILITIES			55,867		71,749

NET ASSETS			55,867		71,749

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			55,866		71,748

SHAREHOLDERS' FUNDS			55,867		71,749