REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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METRIC CONSTRUCTION (HOLDINGS) LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
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FOR |
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METRIC CONSTRUCTION (HOLDINGS) LIMITED |
METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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METRIC CONSTRUCTION (HOLDINGS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Grafton House |
81 Chorley Old Road |
Bolton |
Lancashire |
BL1 3AJ |
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BANKERS: |
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Horwich Branch |
29 Lee Lane |
Bolton |
Lancashire |
BL6 7AY |
METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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Investments | 6 |
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Investment property | 7 |
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CURRENT ASSETS |
Debtors | 8 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Revaluation reserve | 13 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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BALANCE SHEET - continued |
31 DECEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Metric Construction (Holdings) Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Motor vehicles | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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5. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
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COST |
At 1 January 2020 |
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Disposals | ( |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Eliminated on disposal | ( |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2020 |
and 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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7. | INVESTMENT PROPERTY - continued |
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Fair value at 31 December 2020 is represented by: |
£ |
Valuation in 2005 | 1,068,000 |
Valuation in 2013 | 390,000 |
Cost | (195,000 | ) |
1,263,000 |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed to group undertakings |
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Tax |
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Other creditors |
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Directors current account | 412 | 399 |
Accrued expenses |
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10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans more 5 yr by instal |
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Bank loan | 50,000 | - |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,045,191 | 1,045,191 |
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11. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank loans |
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METRIC CONSTRUCTION (HOLDINGS) LIMITED (REGISTERED NUMBER: 04131930) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 150 | 100 |
(2019 - 100 ) |
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Ordinary A | £1 | 75 | 50 |
(2019 - 50 ) |
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Ordinary B | £1 | 75 | 50 |
(2019 - 50 ) |
300 | 200 |
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The following shares were allotted and fully paid for cash at par during the year: |
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50 Ordinary shares of £1 each |
25 Ordinary A shares of £1 each |
25 Ordinary B shares of £1 each |
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13. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2020 |
and 31 December 2020 |
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14. | RELATED PARTY DISCLOSURES |
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£67,203 (2019 - £34,946) was owed to Metric Construction (North West) Limited as at the balance sheet date. Metric Construction (North West) Limited is deemed to be related as 100% of its issued shares are owned by the reporting entity. The amount is fully repayable and no amounts have been written off during the year. |
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£5,878 (2019 - £5,878) was owed by Metric Construction (Nazarene Court) Limited as at the balance sheet date. Metric Construction (Nazarene Court) Limited is deemed to be related as 100% of its issued shares are owned by the reporting entity. The amount is fully repayable and no amounts have been written off during the year. |
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During the year the company loaned £225,000 to Middle Row Barns (Lupton) Limited, a company in which the directors of the reporting entity are materially interested in as directors. Interest will be charged at a rate of 2.5% and the loan is fully repayable over a period of 24 months. This amount is included within debtors due within one year. |
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The company received a loan of £100,000 from Switzer Holdigs (UK) Limited, a company in which the company's newly appointed directo, Adam Chapman, is materially interested in as director/shareholder. This amount is included within creditors due within one year. |