Company Registration No. 11498457 (England and Wales)
Metos UK Ltd
Unaudited accounts
for the year ended 30 September 2021
Metos UK Ltd
Unaudited accounts
Contents
Metos UK Ltd
Company Information
for the year ended 30 September 2021
Directors
Mr David George Joseph Whattoff
Mr Thomas Michael Curtis Green
Company Number
11498457 (England and Wales)
Registered Office
7 The Close
Norwich
NR1 4DJ
England
Accountants
striveX Ltd
9 Greyfriars Road
Reading
Berkshire
RG1 1NU
Metos UK Ltd
Statement of financial position
as at 30 September 2021
Tangible assets
4,478
4,141
Cash at bank and in hand
30,232
1,977
Creditors: amounts falling due within one year
(358,017)
(280,454)
Net current liabilities
(193,668)
(154,549)
Total assets less current liabilities
(189,190)
(150,408)
Creditors: amounts falling due after more than one year
(17,523)
-
Net liabilities
(206,713)
(150,408)
Called up share capital
200
200
Profit and loss account
(206,913)
(150,608)
Shareholders' funds
(206,713)
(150,408)
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2022 and were signed on its behalf by
Mr David George Joseph Whattoff
Director
Company Registration No. 11498457
Metos UK Ltd
Notes to the Accounts
for the year ended 30 September 2021
Metos UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 11498457. The registered office is 7 The Close, Norwich, NR1 4DJ, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The financial statements have been prepared on the going concern basis as the directors and the Company's parent undertaking have confirmed that they will continue to support the Company and will not request repayment of their loan accounts until there are adequate funds from which to do so.
The initial period of trading has seen the business incur a number of start up costs and the directors are confident that the Company will become profitable once its products have become fully established in the market place.
In addition to this, the directors consider that the Company retains sufficient working capital to continue trading for the foreseeable future, despite the impact of COVID-19.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts and Value Added Tax.
Turnover from the sale of goods is recognised at the point of sale and when all of the following conditions are satisfied:
1. The Company has transferred the significant risks and rewards of ownership to the buyer;
2. The Company retains neither continuing managerial involvement nor effective control over the goods sold;
3. The amount of turnover can be measured reliably;
4. It is probable that the Company will receive the consideration due under the transaction; and
5. The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Metos UK Ltd
Notes to the Accounts
for the year ended 30 September 2021
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Computer equipment
25% Reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
At each balance sheet date, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2020
2,852
3,504
6,356
At 30 September 2021
2,984
4,847
7,831
At 1 October 2020
917
1,298
2,215
Charge for the year
503
635
1,138
At 30 September 2021
1,420
1,933
3,353
At 30 September 2021
1,564
2,914
4,478
At 30 September 2020
1,935
2,206
4,141
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
56,686
60,860
Accrued income and prepayments
1,454
2,427
Metos UK Ltd
Notes to the Accounts
for the year ended 30 September 2021
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Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
5,605
25,000
Trade creditors
226,292
36,318
Taxes and social security
4,128
1,755
Other creditors
50,997
150,896
Loans from directors
48,909
49,166
Deferred income
2,007
2,007
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Creditors: amounts falling due after more than one year
2021
2020
8
Transactions with related parties
At the balance sheet date, the Company owed £48,909 (2020 - £49,166) to the directors.
As at 30 September 2020, the Company owed £50,898 (2020 - £50,898) to its immediate parent undertaking. This balance is included within other creditors and is also interest free and repayable on demand.
The Company is controlled by Metos Polska Sp. z o. o, a company registered in Poland.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Pessl Instruments GmbH. Consolidated accounts are available via the Austrian commercial register (Firmenbuch).
The Company's ultimate parent undertaking is Pessl Instruments GmbH, a company registered in Austria. Pessl Instruments GmbH is ultimately controlled by G Pessl.
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Average number of employees
During the year the average number of employees was 2 (2020: 2).
