Company Registration No. 07554123 (England and Wales)
METIS HR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
31 March 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
METIS HR LTD
COMPANY INFORMATION
Director
Mrs A J Driver
Secretary
Mrs A J Driver
Company number
07554123
Registered office
216 Newchurch Road
Stacksteads
Bacup
OL13 0TS
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
METIS HR LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
METIS HR LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,306
4,704
Current assets
Debtors
5
28,937
52,841
Cash at bank and in hand
90,254
83,080
119,191
135,921
Creditors: amounts falling due within one year
6
(28,375)
(35,042)
Net current assets
90,816
100,879
Total assets less current liabilities
101,122
105,583
Creditors: amounts falling due after more than one year
7
(15,066)
(21,715)
Provisions for liabilities
(1,958)
(1,176)
Net assets
84,098
82,692
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
84,097
82,691
Total equity
84,098
82,692
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
METIS HR LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 14 July 2023
Mrs A J Driver
Director
Company Registration No. 07554123
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Metis HR Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 216 Newchurch Road, Stacksteads, Bacup, OL13 0TS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets other than goodwill
Trade marks have been fully written off over the estimated useful life of 3 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing balance
Computer equipment
33% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
2
3
Intangible fixed assets
Trade mark
£
Cost
At 1 April 2022 and 31 March 2023
170
Amortisation and impairment
At 1 April 2022 and 31 March 2023
170
Carrying amount
At 31 March 2023
At 31 March 2022
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 April 2022
13,115
3,365
16,480
Additions
6,412
2,711
9,123
At 31 March 2023
19,527
6,076
25,603
Depreciation and impairment
At 1 April 2022
9,704
2,072
11,776
Depreciation charged in the year
2,376
1,145
3,521
At 31 March 2023
12,080
3,217
15,297
Carrying amount
At 31 March 2023
7,447
2,859
10,306
At 31 March 2022
3,411
1,293
4,704
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
26,562
23,202
Other debtors
2,375
29,639
28,937
52,841
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,683
6,550
Taxation and social security
19,357
26,731
Other creditors
2,335
1,761
28,375
35,042
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,066
21,715
METIS HR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
8
Operating lease commitments
At the year end the company was committed to paying premises rent of £87,875 (2022- £95,000).