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

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


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REGISTERED NUMBER: 02723025(England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

METRO REPRO LIMITED

METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


METRO REPRO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







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

METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £    £    £    £   
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.

METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

BALANCE SHEET - continued
31 MARCH 2019


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 2019and were signed on
its behalf by:





Mr R H Foster- Director


METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

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.


METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

2. ACCOUNTING POLICIES - continued
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 -

METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

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

METRO REPRO LIMITED (REGISTERED NUMBER: 02723025)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

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.