METROPOLIS STUDENT LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10096781 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

METROPOLIS STUDENT LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

to

3

CURRENT ASSETS

Debtors

4

350,344

318,233

CREDITORS

Amounts falling due within one year

5

(26,804

)

(68,584

)

NET CURRENT ASSETS

323,540

249,649

TOTAL ASSETS LESS CURRENT LIABILITIES

323,540

249,649

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

323,440

249,549

323,540

249,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 25 June 2020 and were signed on its behalf by:

Mr P A McGuinness - Director

1.	STATUTORY INFORMATION

METROPOLIS STUDENT LIMITED is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

10096781

Registered office:

Unit 6-8 Winpenny Road

Parkhouse Industrial Est East

Newcastle under Lyme

Staffordshire

ST5 7RH

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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported. These estimates and judgements are continually reviewed

and are based on experience and other factors, including expectations of future events that are believed

to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the

contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement

constitutes a financing transaction, where it is recognised at the present value of the future payments

discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of

impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment

loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually

significant, these are assessed individually for impairment. Other financial assets are either assessed

individually or grouped on the basis of similar credit risk characteristics.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Amounts owed by group undertakings

350,344

318,233

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.19

30.11.18

£

£

Amounts owed to group undertakings

7,099

7,099

Taxation and social security

17,306

58,564

Other creditors

2,399

2,921

26,804

68,584

6.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption from the disclosures required by paragraph

33.1A of Financial Reporting Standard 102 regarding transactions between fellow group

companies.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Wish Developments (Holdings) Ltd.

A company registered in England and Wales. The registered office and principal place of business is

Winpenny Road, Parkhouse Industrial Estate East, Newcastle, Staffs.