Metro Prepaid Limited

Metro Prepaid Limited is a small holding company based in Staines-Upon-Thames, UK, established seven years ago in November 2017. With two employees and £735,524 in assets, it operates from a real address at Unit 1, Tims Boatyard, Timsway, and is overseen by three directors and one owner. The company is currently active, importing optical and medical tools and devices regularly—the latest import was made in March 2024.

The company’s primary function is facilitating prepaid electricity usage for landlords and tenants. Its website, MetroPrepaid, details a system where landlords can recover electricity costs from tenants by purchasing “Metro Codes” available at thousands of stores. The site highlights the benefits of sub-metering, including efficient payment collection and tenant accountability. It even provides installation instructions and a dedicated help desk for landlords. The website also features testimonials from satisfied customers, praising the company’s customer service and ease of use.

Financially, Metro Prepaid Limited shows some interesting trends. Current assets have increased significantly by 110%, reaching £740,000, while net assets have dramatically improved, jumping from -£320,000 to £60,000. Bank borrowings have decreased by 35%, falling to £26,000, and cash reserves have soared by 170%, reaching £470,000. Creditors have also decreased by 33%, suggesting improved debt management. The company meets the criteria for a small company, with turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. Average employees reported at August 31, 2023, increased by 100%, from two to four. However, the company’s liabilities have also increased, with taxation and social security payable rising by 700%.

The company’s reliance on external funding, as evidenced by the substantial loan from Barclays Bank, could pose a risk if revenue growth slows. The lack of an auditor mentioned suggests the company is exempt from an audit due to its small size, and the unaudited financial statements should be viewed with caution. Overall, Metro Prepaid Limited appears to be navigating a period of growth, but careful management of its liabilities will be crucial for long-term sustainability.

Registered in England/Wales under the registration number 11078280, with a registered address at TW18 3JY, England, Staines-Upon-Thames, Unit 1, Tims Boatyard, Timsway.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.