ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-12-312017-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseconsultancy servicesfalse2017-01-01 05976584 2017-01-01 2017-12-31 05976584 2017-12-31 05976584 2016-12-31 05976584 c:Director1 2017-01-01 2017-12-31 05976584 d:FurnitureFittings 2017-01-01 2017-12-31 05976584 d:OtherPropertyPlantEquipment 2017-01-01 2017-12-31 05976584 d:OtherPropertyPlantEquipment 2017-12-31 05976584 d:OtherPropertyPlantEquipment 2016-12-31 05976584 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 05976584 d:CurrentFinancialInstruments 2017-12-31 05976584 d:CurrentFinancialInstruments 2016-12-31 05976584 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 05976584 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 05976584 d:ShareCapital 2017-12-31 05976584 d:ShareCapital 2016-12-31 05976584 d:RetainedEarningsAccumulatedLosses 2017-12-31 05976584 d:RetainedEarningsAccumulatedLosses 2016-12-31 05976584 c:OrdinaryShareClass1 2017-01-01 2017-12-31 05976584 c:OrdinaryShareClass1 2017-12-31 05976584 c:FRS102 2017-01-01 2017-12-31 05976584 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 05976584 c:FullAccounts 2017-01-01 2017-12-31 05976584 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05976584

METSYA LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017


METSYA LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


METSYA LIMITED REGISTERED NUMBER:05976584

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		7,523		8,273
Current assets
Debtors: amounts falling due within one year	5	39,699		22,484
Cash at bank and in hand		29,209		30,215
		68,908		52,699
Current liabilities
Creditors: amounts falling due within one year	6	(50,007)		(60,948)
Net current assets/(liabilities)			18,901		(8,249)

Net assets			26,424		24

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		26,423	23
		26,424	24

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2018.

Dr J de Gunzburg

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


METSYA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

The company is a limited liability company incorporated in England and Wales with its registered office at Fifth Floor, 52A Cromwell Road, London, SW7 5BE.
The principal activity of the company continued to be that of the provision of consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises revenue recognised by the company in respect of consultancy services supplied during the year, exclusive of Value Added Tax.
Revenue is recognised in the period in which services are provided.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Fixtures, fittings & equipment

25% to 33.33% straight line

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.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.5

Financial instruments

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 and to related parties.

2.6

Creditors

Short term creditors are measured at the transaction price.

Page 2


METSYA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.7

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The directors were the only employees of the company during the current and preceding year.

Page 3


METSYA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Tangible fixed assets

		Fixtures, fittings & equipment
		£
	Cost
	At 1 January 2017	35,367
	Additions	3,888
	At 31 December 2017	39,255
	Depreciation
	At 1 January 2017	27,095
	Charge for the year on owned assets	4,637
	At 31 December 2017	31,732
	Net book value
	At 31 December 2017	7,523
	At 31 December 2016	8,273

Debtors

					2017	2016
					£	£


Trade debtors	25,620	16,585
Other debtors	4,221	1,203
Prepayments	9,858	4,696
	39,699	22,484

Page 4


METSYA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	11,754	2,641
Taxation and social security	9,436	2,511
Other creditors	26,417	53,796
Accruals	2,400	2,000
	50,007	60,948

7.	Share capital
		2017	2016
		£	£

Allotted, called up and fully paid

1 Ordinary share of £1	1	1

Page 5