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Registration number: 04535149

MetFabs Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

MetFabs Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
MetFabs Limited
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MetFabs Limited for the year ended 30 September 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of MetFabs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of MetFabs Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MetFabs Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that MetFabs Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MetFabs Limited. You consider that MetFabs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of MetFabs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Chartered Accountants
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

23 May 2017

 

MetFabs Limited
(Registration number: 04535149)
Abbreviated Balance Sheet at 30 September 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

277

   

370

 

Current assets

 

             

Stocks

 

   

1,250

   

1,250

 

Debtors

 

   

10,442

   

4,621

 

Cash at bank and in hand

 

   

15,165

   

15,644

 
   

   

26,857

   

21,515

 

Creditors: Amounts falling due within one year

 

   

(10,986)

   

(9,718)

 

Net current assets

 

   

15,871

   

11,797

 

Net assets

 

   

16,148

   

12,167

 

Capital and reserves

 

             

Called up share capital

 

3

   

1

   

1

 

Profit and loss account

 

   

16,147

   

12,166

 

Shareholders' funds

 

   

16,148

   

12,167

 

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 23 May 2017

.........................................
C F Masters
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

MetFabs Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 October 2015

 

12,153

   

12,153

 

At 30 September 2016

 

12,153

   

12,153

 

Depreciation

           

At 1 October 2015

 

11,783

   

11,783

 

Charge for the year

 

93

   

93

 

At 30 September 2016

 

11,876

   

11,876

 

Net book value

           

At 30 September 2016

 

277

   

277

 

At 30 September 2015

 

370

   

370

 
 

MetFabs Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

1

   

1

   

1

   

1

 
                         

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