METROCOUNT (U.K.) LIMITED - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03367759 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

METROCOUNT (U.K.) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T M Kenny

P P Wilson

REGISTERED OFFICE:

The Old Workshop

1 Ecclesall Road South

Sheffield

South Yorkshire

S11 9PA

REGISTERED NUMBER:

03367759 (England and Wales)

ACCOUNTANTS:

Brown McLeod Ltd

Chartered Accountants

The Old Workshop

1 Ecclesall Road South

Sheffield

S11 9PA

FIXED ASSETS

Tangible assets

4

27,646

34,397

CURRENT ASSETS

Stocks

130,500

110,050

Debtors

5

181,598

217,685

Cash at bank and in hand

1,085,275

893,170

1,397,373

1,220,905

CREDITORS

Amounts falling due within one year

6

223,023

361,321

NET CURRENT ASSETS

1,174,350

859,584

TOTAL ASSETS LESS CURRENT LIABILITIES

1,201,996

893,981

PROVISIONS FOR LIABILITIES

1,744

2,357

NET ASSETS

1,200,252

891,624

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,200,251

891,623

SHAREHOLDERS' FUNDS

1,200,252

891,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 26 October 2023 and were signed on its behalf by:

T M Kenny - Director

1.	STATUTORY INFORMATION

METROCOUNT (U.K.) LIMITED is a private company, limited by shares , 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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2022

17,369

52,172

17,856

53,258

140,655

Additions

-

-

-

663

663

At 30 June 2023

17,369

52,172

17,856

53,921

141,318

DEPRECIATION

At 1 July 2022

15,432

38,656

10,323

41,847

106,258

Charge for year

484

2,028

1,884

3,018

7,414

At 30 June 2023

15,916

40,684

12,207

44,865

113,672

NET BOOK VALUE

At 30 June 2023

1,453

11,488

5,649

9,056

27,646

At 30 June 2022

1,937

13,516

7,533

11,411

34,397

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade debtors

141,143

165,909

Other debtors

40,455

51,776

181,598

217,685

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.23

30.6.22

£

£

Trade creditors

25,429

8,975

Taxation and social security

103,705

119,342

Other creditors

93,889

233,004

223,023

361,321

7.	OTHER FINANCIAL COMMITMENTS

The company had outstanding pension commitments at the year end of £2,563.18 (2022 - £2,913.28.)

The company had outstanding lease commitments at the year end of £93,750 (2022 - £125,000.)