Metstone Limited - Accounts to registrar (filleted) - small 22.3
Metstone Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2022 |
| for |
| METSTONE LIMITED |
| METSTONE LIMITED (REGISTERED NUMBER: 08117336) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| METSTONE LIMITED |
| Company Information |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Theobald Court |
| Theobald Street |
| Elstree |
| Hertfordshire |
| WD6 4RN |
| METSTONE LIMITED (REGISTERED NUMBER: 08117336) |
| Statement of Financial Position |
| 30 JUNE 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| METSTONE LIMITED (REGISTERED NUMBER: 08117336) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 1. | STATUTORY INFORMATION |
| Metstone Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| In accordance with Financial Reporting Standard for Smaller Entities (effective 2015), no depreciation is provided in respect of freehold properties. Such properties are not held for consumption but for investment and the director consider that to depreciate them would not give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The director consider that this policy results in the accounts giving a true and fair view. |
| 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. |
| Going concern |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| The director has undertaken a detailed Profit and Loss and Cash Flow forecasting exercise incorporating the ongoing impact of the COVID-19 pandemic. As a result of this work and the continuing strong performance of the business the director is comfortable that the company has the resources it requires to thrive for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| METSTONE LIMITED (REGISTERED NUMBER: 08117336) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| loans |
| £ |
| At 1 July 2021 |
| New in year |
| Repayment in year | ( |
) |
| At 30 June 2022 |
| During the year, the company acquired 4 Ordinary Shares of £0.01 in Kimberely Crouch End Limited and at the same time lent a sum of £200,000 to the Company. |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2021 |
| and 30 June 2022 |
| NET BOOK VALUE |
| At 30 June 2022 |
| At 30 June 2021 |
| Fair value at 30 June 2022 is represented by: |
| £ |
| Valuation in 2016 | 320,000 |
| Valuation in 2021 | (55,000 | ) |
| Cost | 1,060,000 |
| 1,325,000 |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 1,060,000 | 1,060,000 |
| In the director's opinion, the value of the property at the year end was £1,325,000. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| VAT | 709 | 139 |
| Shareholders loan |
| Directors' current accounts | 2,682 | 2,445 |
| Accrued expenses |
| METSTONE LIMITED (REGISTERED NUMBER: 08117336) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 30 JUNE 2022 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bounce back loan |
| Bank loans - 2-5 years |
| Bank loans more 5 yrs non-inst | 659,800 | - |
| Payments on account |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2022 | 2021 |
| £ | £ |
| Bank loans |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | 1 | 180 | 180 |
| 11. | ULTIMATE CONTROLLING PARTY |
| There is no single ultimate controlling party. |