Metro Repro Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02723025 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

METRO REPRO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R H Foster

Mrs H H Foster

Mr P R Foster

SECRETARY:

Mrs H H Foster

REGISTERED OFFICE:

B I House

Carliol Square

Newcastle upon Tyne

Tyne and Wear

NE1 6UF

REGISTERED NUMBER:

02723025 (England and Wales)

ACCOUNTANTS:

Robson Laidler Accountants Limited

Fernwood House

Fernwood Road

Jesmond

Newcastle upon Tyne

NE2 1TJ

BANKERS:

Barclays Bank plc

49/51 Northumberland Street

Newcastle upon Tyne

Tyne and Wear

NE1 7AF

SOLICITORS:

Ward Hadaway

Newcastle upon Tyne

Tyne and Wear

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

120,837

135,272

Investments

6

40,145

40,145

160,982

175,417

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

7

126,901

140,446

Cash at bank

820,532

678,217

957,433

828,663

CREDITORS

Amounts falling due within one year

8

127,881

95,488

NET CURRENT ASSETS

829,552

733,175

TOTAL ASSETS LESS CURRENT LIABILITIES

990,534

908,592

PROVISIONS FOR LIABILITIES

9,867

11,339

NET ASSETS

980,667

897,253

CAPITAL AND RESERVES

Called up share capital

106,000

106,000

Retained earnings

874,667

791,253

SHAREHOLDERS' FUNDS

980,667

897,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 on 18 December 2019 and were signed on its behalf by:

Mr R H Foster - Director

1.	STATUTORY INFORMATION

Metro Repro 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1993, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

33% on cost and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

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.

Government grants

Grants for capital expenditure are deferred and released to the profit and loss account over the useful

economic life of the asset.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

224,237

AMORTISATION

At 1 April 2018

and 31 March 2019

224,237

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2018

204,353

31,912

78,625

314,890

Additions

5,598

-

5,500

11,098

Disposals

(3,162

)

-

-

(3,162

)

At 31 March 2019

206,789

31,912

84,125

322,826

DEPRECIATION

At 1 April 2018

119,325

29,604

30,689

179,618

Charge for year

11,388

345

13,359

25,092

Eliminated on disposal

(2,721

)

-

-

(2,721

)

At 31 March 2019

127,992

29,949

44,048

201,989

NET BOOK VALUE

At 31 March 2019

78,797

1,963

40,077

120,837

At 31 March 2018

85,028

2,308

47,936

135,272

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2018

and 31 March 2019

40,145

NET BOOK VALUE

At 31 March 2019

40,145

At 31 March 2018

40,145

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

63,149

59,530

Directors' current accounts

38,988

53,987

Corporation tax recoverable

15,955

15,955

Prepayments and accrued income

8,809

10,974

126,901

140,446

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

23,073

23,827

Corporation tax

31,594

25,274

Social security and other taxes

24,626

18,228

Other creditors

283

144

Directors' current accounts

36,035

16,035

Accrued expenses

12,270

11,980

127,881

95,488

9.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had total guarantees and other financial commitments of

£15,694 (2018: £15,694).

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

Mr P R Foster

Balance outstanding at start of year

53,987

53,715

Amounts advanced

10,001

24,272

Amounts repaid

(25,000

)

(24,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

38,988

53,987

Interest has been charged on the above loans at the official rate.