Metor Services Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04625266 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Metor Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M I Keddie

J J Clarke

Mr M Robinson

T N Cockayne

N Dougan

SECRETARY:

Ms C Jackson

REGISTERED OFFICE:

Brigham House

High Street

Biggleswade

Bedfordshire

SG18 0LD

REGISTERED NUMBER:

04625266 (England and Wales)

ACCOUNTANTS:

George Hay Partnership LLP

Chartered Accountants

Brigham House

High Street

Biggleswade

Bedfordshire

SG18 0LD

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

86,865

133,515

86,865

133,515

CURRENT ASSETS

Stocks

18,425

14,875

Debtors

7

961,461

1,349,540

Cash at bank and in hand

720,110

335,270

1,699,996

1,699,685

CREDITORS

Amounts falling due within one year

8

740,610

1,247,339

NET CURRENT ASSETS

959,386

452,346

TOTAL ASSETS LESS CURRENT LIABILITIES

1,046,251

585,861

CREDITORS

Amounts falling due after more than one year

9

(30,626

)

(56,980

)

PROVISIONS FOR LIABILITIES

(7,429

)

(10,277

)

NET ASSETS

1,008,196

518,604

CAPITAL AND RESERVES

Called up share capital

11

300

300

Retained earnings

1,007,896

518,304

SHAREHOLDERS' FUNDS

1,008,196

518,604

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 18 August 2023 and were signed on its behalf by:

M I Keddie - Director

1.	STATUTORY INFORMATION

Metor Services 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 net of VAT and trade discounts.

The policy adopted for the recognition of turnover in relation to contracts is that when the outcome of a contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 20% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 20 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

30,000

AMORTISATION

At 1 April 2022

and 31 March 2023

30,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

339,399

Additions

558

Disposals

(27,740

)

At 31 March 2023

312,217

DEPRECIATION

At 1 April 2022

205,884

Charge for year

28,958

Eliminated on disposal

(9,490

)

At 31 March 2023

225,352

NET BOOK VALUE

At 31 March 2023

86,865

At 31 March 2022

133,515

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

119,740

DEPRECIATION

At 1 April 2022

65,478

Charge for year

9,296

At 31 March 2023

74,774

NET BOOK VALUE

At 31 March 2023

44,966

At 31 March 2022

54,262

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

649,608

1,134,594

Amounts owed by group undertakings

136,217

25,752

Other debtors

175,636

189,194

961,461

1,349,540

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

11,481

21,839

Trade creditors

477,750

1,036,547

Taxation and social security

211,366

141,224

Other creditors

30,013

37,729

740,610

1,247,339

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

21,667

31,666

Hire purchase contracts

8,959

25,314

30,626

56,980

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

20,440

47,153

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

264

Ordinary

£1

264

264

36

A Ordinary

£1

36

36

300

300

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date £60,000 is owed to the company by the directors (2022 - £4,091).

No interest is charged on the loan and the loan was repaid in April 2023.

The maximum overdrawn balance in the year was £60,000.

13.	PARENT COMPANY

The company's parent company is Tadlow Road Limited. Registered office:

Brigham House

High Street

Biggleswade

Bedfordshire

SG18 0LD