MELTOG LTD

2021-06-012022-05-312022-05-31false07768846MELTOG LTD2023-02-2728290iso4217:GBPxbrli:pure077688462021-06-01077688462022-05-31077688462021-06-012022-05-31077688462019-12-01077688462021-05-31077688462019-12-012021-05-3107768846bus:SmallEntities2021-06-012022-05-3107768846bus:AuditExempt-NoAccountantsReport2021-06-012022-05-3107768846bus:FullAccounts2021-06-012022-05-3107768846bus:PrivateLimitedCompanyLtd2021-06-012022-05-3107768846core:WithinOneYear2022-05-3107768846core:AfterOneYear2022-05-3107768846core:WithinOneYear2021-05-3107768846core:AfterOneYear2021-05-3107768846core:ShareCapital2022-05-3107768846core:SharePremium2022-05-3107768846core:RevaluationReserve2022-05-3107768846core:OtherReservesSubtotal2022-05-3107768846core:RetainedEarningsAccumulatedLosses2022-05-3107768846core:ShareCapital2021-05-3107768846core:SharePremium2021-05-3107768846core:RevaluationReserve2021-05-3107768846core:OtherReservesSubtotal2021-05-3107768846core:RetainedEarningsAccumulatedLosses2021-05-3107768846core:LandBuildings2022-05-3107768846core:PlantMachinery2022-05-3107768846core:Vehicles2022-05-3107768846core:FurnitureFittings2022-05-3107768846core:OfficeEquipment2022-05-3107768846core:NetGoodwill2022-05-3107768846core:IntangibleAssetsOtherThanGoodwill2022-05-3107768846core:ListedExchangeTraded2022-05-3107768846core:UnlistedNon-exchangeTraded2022-05-3107768846core:LandBuildings2021-05-3107768846core:PlantMachinery2021-05-3107768846core:Vehicles2021-05-3107768846core:FurnitureFittings2021-05-3107768846core:OfficeEquipment2021-05-3107768846core:NetGoodwill2021-05-3107768846core:IntangibleAssetsOtherThanGoodwill2021-05-3107768846core:ListedExchangeTraded2021-05-3107768846core:UnlistedNon-exchangeTraded2021-05-3107768846core:LandBuildings2021-06-012022-05-3107768846core:PlantMachinery2021-06-012022-05-3107768846core:Vehicles2021-06-012022-05-3107768846core:FurnitureFittings2021-06-012022-05-3107768846core:OfficeEquipment2021-06-012022-05-3107768846core:NetGoodwill2021-06-012022-05-3107768846core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-3107768846core:ListedExchangeTraded2021-06-012022-05-3107768846core:UnlistedNon-exchangeTraded2021-06-012022-05-3107768846core:MoreThanFiveYears2021-06-012022-05-3107768846core:Non-currentFinancialInstruments2022-05-3107768846core:Non-currentFinancialInstruments2021-05-3107768846dpl:CostSales2021-06-012022-05-3107768846dpl:DistributionCosts2021-06-012022-05-3107768846dpl:AdministrativeExpenses2021-06-012022-05-3107768846core:LandBuildings2021-06-012022-05-3107768846core:PlantMachinery2021-06-012022-05-3107768846core:Vehicles2021-06-012022-05-3107768846core:FurnitureFittings2021-06-012022-05-3107768846core:OfficeEquipment2021-06-012022-05-3107768846core:NetGoodwill2021-06-012022-05-3107768846core:IntangibleAssetsOtherThanGoodwill2021-06-012022-05-3107768846dpl:GroupUndertakings2021-06-012022-05-3107768846dpl:ParticipatingInterests2021-06-012022-05-3107768846dpl:GroupUndertakingscore:ListedExchangeTraded2021-06-012022-05-3107768846core:ListedExchangeTraded2021-06-012022-05-3107768846dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-06-012022-05-3107768846core:UnlistedNon-exchangeTraded2021-06-012022-05-3107768846dpl:CostSales2019-12-012021-05-3107768846dpl:DistributionCosts2019-12-012021-05-3107768846dpl:AdministrativeExpenses2019-12-012021-05-3107768846core:LandBuildings2019-12-012021-05-3107768846core:PlantMachinery2019-12-012021-05-3107768846core:Vehicles2019-12-012021-05-3107768846core:FurnitureFittings2019-12-012021-05-3107768846core:OfficeEquipment2019-12-012021-05-3107768846core:NetGoodwill2019-12-012021-05-3107768846core:IntangibleAssetsOtherThanGoodwill2019-12-012021-05-3107768846dpl:GroupUndertakings2019-12-012021-05-3107768846dpl:ParticipatingInterests2019-12-012021-05-3107768846dpl:GroupUndertakingscore:ListedExchangeTraded2019-12-012021-05-3107768846core:ListedExchangeTraded2019-12-012021-05-3107768846dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-12-012021-05-3107768846core:UnlistedNon-exchangeTraded2019-12-012021-05-3107768846core:NetGoodwill2022-05-3107768846core:IntangibleAssetsOtherThanGoodwill2022-05-3107768846core:LandBuildings2022-05-3107768846core:PlantMachinery2022-05-3107768846core:Vehicles2022-05-3107768846core:FurnitureFittings2022-05-3107768846core:OfficeEquipment2022-05-3107768846core:AfterOneYear2022-05-3107768846core:WithinOneYear2022-05-3107768846core:ListedExchangeTraded2022-05-3107768846core:UnlistedNon-exchangeTraded2022-05-3107768846core:ShareCapital2022-05-3107768846core:SharePremium2022-05-3107768846core:RevaluationReserve2022-05-3107768846core:OtherReservesSubtotal2022-05-3107768846core:RetainedEarningsAccumulatedLosses2022-05-3107768846core:NetGoodwill2021-05-3107768846core:IntangibleAssetsOtherThanGoodwill2021-05-3107768846core:LandBuildings2021-05-3107768846core:PlantMachinery2021-05-3107768846core:Vehicles2021-05-3107768846core:FurnitureFittings2021-05-3107768846core:OfficeEquipment2021-05-3107768846core:AfterOneYear2021-05-3107768846core:WithinOneYear2021-05-3107768846core:ListedExc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MELTOG LTD

Registered Number
07768846
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2022

MELTOG LTD

Company Information
for the year from 1 June 2021 to 31 May 2022


Directors	GLOVER, Paul Stephen
	HEYWORTH, Julian Nicholas


Registered Address	Unit B
	Copley Hill Trading Estate, Whitehall Road
	Leeds
	LS12 1HE


Registered Number	07768846 (England and Wales)

MELTOG LTD

Statement of Financial Position
31 May 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Intangible assets	4		76,392		107,468
Tangible assets	5		106,045		122,934
Investments	6		44,643		44,643
			227,080		275,045
Current assets
Stocks	9	467,069		427,005
Debtors	10	548,448		565,849
Cash at bank and on hand		477,778		82,725
		1,493,295		1,075,579
Creditors amounts falling due within one year	11	(1,230,539)		(750,723)
Net current assets (liabilities)			262,756		324,856
Total assets less current liabilities			489,836		599,901
Creditors amounts falling due after one year	12		(321,142)		(426,230)
Provisions for liabilities	13		(12,952)		(18,000)
Net assets			155,742		155,671
Capital and reserves
Called up share capital			2		2
Other reserves			3		3
Profit and loss account			155,737		155,666
Shareholders' funds			155,742		155,671

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2023, and are signed on its behalf by:

HEYWORTH, Julian Nicholas
Director
Registered Company No. 07768846

MELTOG LTD

Notes to the Financial Statements
for the year ended 31 May 2022

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or 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.

Turnover policy

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/or 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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	10
	Vehicles	4
	Office Equipment	5

	Intangible assets policy
	Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Goodwill - 20% straight line basis Intellectual Property - 20% straight line basis Development Costs - 20% straight line basis in the year following acquisition

Intangible assets policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Goodwill - 20% straight line basis
Intellectual Property - 20% straight line basis
Development Costs - 20% straight line basis in the year following acquisition

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	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.

Deferred tax policy

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.

	Research and development policy
	Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrate.

	Foreign currency translation and operations policy
	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 the Income Statement

Foreign currency translation and operations policy

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 the Income Statement

	Leases policy
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Leases policy

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

	Employee benefits policy
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits policy

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

3.	Employee information


		2022		2021
	Average number of employees during the year	33		30

4.	Intangible assets
	Other intangible assets are made up of Development costs & Intellectual property.

	Goodwill	Other	Total
	£	£	£
Cost or valuation
At 01 June 21	3,000	155,357	158,357
At 31 May 22	3,000	155,357	158,357
Amortisation and impairment
At 01 June 21	3,000	47,889	50,889
Charge for year	-	31,076	31,076
At 31 May 22	3,000	78,965	81,965
Net book value
At 31 May 22	-	76,392	76,392
At 31 May 21	-	107,468	107,468

5.	Property, plant and equipment

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 June 21	195,989	23,924	43,027	262,940
Additions	3,270	-	8,135	11,405
At 31 May 22	199,259	23,924	51,162	274,345
Depreciation and impairment
At 01 June 21	88,647	23,924	27,435	140,006
Charge for year	19,819	-	8,475	28,294
At 31 May 22	108,466	23,924	35,910	168,300
Net book value
At 31 May 22	90,793	-	15,252	106,045
At 31 May 21	107,342	-	15,592	122,934

6.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 June 21	44,643	44,643
At 31 May 22	44,643	44,643
Net book value
At 31 May 22	44,643	44,643
At 31 May 21	44,643	44,643

	Notes
	¹Investments in group undertakings and participating interests

7.	Description of financial commitments other than capital commitments
	At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £152,644 (2021: 215,565).

8.	Guarantees and their terms, directors
	The Directors have given personal guarantees to the company totalling £8,770 (2021: 43,174) in respect of other loans.

9.	Stocks

	2022	2021
	£	£
Work in progress	60,410	37,335
Finished goods	406,659	389,670
Total	467,069	427,005

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	453,410	282,392
Other debtors	36,401	27,030
Prepayments and accrued income	58,637	256,427
Total	548,448	565,849


	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.

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	282,485	174,797
Taxation and social security	21,857	47,712
Other creditors	847,997	512,114
Accrued liabilities and deferred income	78,200	16,100
Total	1,230,539	750,723


	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. The aggregate amount of creditors for which security has been given amounted to £ 43,079 (2021: £43,174).

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.

The aggregate amount of creditors for which security has been given amounted to £ 43,079 (2021: £43,174).

12.	Creditors after one year

	2022	2021
	£	£
Other creditors	321,142	426,230
Total	321,142	426,230

13.	Provisions for liabilities

	2022	2021
	£	£
Net deferred tax liability (asset)	12,952	18,000
Total	12,952	18,000