Metallix Refining Europe Limited
Unaudited Financial Statements
For the year ended 31 December 2021
For Filing with Registrar
Company Registration No. 11923944 (England and Wales)
Metallix Refining Europe Limited
Company Information
Directors
E Leiner
M Piastre
Company number
11923944
Registered office
The Old Builders Yard Cortworth Lane
Wentworth
Rotherham
South Yorkshire
England
S62 7SB
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Metallix Refining Europe Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Metallix Refining Europe Limited
Balance Sheet
As at 31 December 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
162,242
10,419
Current assets
Debtors
4
38,965
36,803
Cash at bank and in hand
49,615
62,742
88,580
99,545
Creditors: amounts falling due within one year
5
(590,816)
(510,558)
Net current liabilities
(502,236)
(411,013)
Net liabilities
(339,994)
(400,594)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(339,995)
(400,595)
Total equity
(339,994)
(400,594)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he 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.
The financial statements were approved by the board of directors and authorised for issue on 20 June 2022 and are signed on its behalf by:
M Piastre
Director
Company Registration No. 11923944
Metallix Refining Europe Limited
Notes to the Financial Statements
For the year ended 31 December 2021
Page 2
1
Accounting policies
Company information
Metallix Refining Europe Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Old Builders Yard Cortworth Lane, Wentworth, Rotherham, South Yorkshire, England, S62 7SB.
1.1
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors have considered the ongoing impact of the COVID-19 outbreak and the measures taken to contain it when forming their assessment of going concern. Although the ultimate impact of the outbreak cannot be assessed with certainty, because of the nature of the business, the directors do not consider that the outbreak will impact the ability of the company to continue in business and meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements.
true
The parent company Metallix Refining Inc will continue to financially support Metallix Refining Europe Ltd for a further 12 months.
1.2
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:
Plant and equipment
33% Straight line
Fixtures and fittings
33% Straight line
Computers
33% Straight line
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
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the
period was 4 (2020 - 4).
2021
2020
Number
Number
Total
4
4
Metallix Refining Europe Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
Page 3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021
19,126
Additions
188,806
At 31 December 2021
207,932
Depreciation and impairment
At 1 January 2021
8,707
Depreciation charged in the year
36,983
At 31 December 2021
45,690
Carrying amount
At 31 December 2021
162,242
At 31 December 2020
10,419
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
38,965
36,803
5
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
567,185
488,518
Other creditors
23,631
22,040
590,816
510,558
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
Metallix Refining Europe Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
Page 4
7
Parent company
By virtue of being the sole shareholder, Metallix International holding LLC of 59 Avenue at the common, Suite 201, Shrewsbury, NJ 07702 is the ultimate controlling party.