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REGISTERED NUMBER: 06113515 (England and Wales)


















Meadowmay Limited

Unaudited Financial Statements for the Year Ended 5th April 2022






Meadowmay Limited (Registered number: 06113515)






Contents of the Financial Statements
for the year ended 5th April 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meadowmay Limited

Company Information
for the year ended 5th April 2022







DIRECTORS: Mrs R Chaplin
M Needler
G Needler





REGISTERED OFFICE: 6 Greenstiles Lane
Swanland
East Yorkshire
HU14 3NH





REGISTERED NUMBER: 06113515 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Meadowmay Limited (Registered number: 06113515)

Balance Sheet
5th April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 570,000 570,000

CURRENT ASSETS
Debtors 5 8,993 8,580
Cash at bank 9,605 4,913
18,598 13,493
CREDITORS
Amounts falling due within one year 6 264,488 259,225
NET CURRENT LIABILITIES (245,890 ) (245,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

324,110

324,268

CREDITORS
Amounts falling due after more than one
year

7

221,000

233,000
NET ASSETS 103,110 91,268

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Non-distributable reserves 9 66,610 66,610
Retained earnings 9 30,500 18,658
SHAREHOLDERS' FUNDS 103,110 91,268

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Meadowmay Limited (Registered number: 06113515)

Balance Sheet - continued
5th April 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th August 2022 and were signed on its behalf by:





M Needler - Director


Meadowmay Limited (Registered number: 06113515)

Notes to the Financial Statements
for the year ended 5th April 2022

1. STATUTORY INFORMATION

Meadowmay Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of value added tax and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rent receivable
Rent receivable under operating leases is credited to the profit and loss account on a straight line basis over the period of the lease.

Interest receivable
Interest income is recognised using the effective interest method.

Investment property
Investment properties are measured at fair value at each reporting date with changes to fair value recognised in profit or loss.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past recording periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactions price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Meadowmay Limited (Registered number: 06113515)

Notes to the Financial Statements - continued
for the year ended 5th April 2022

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6th April 2021
and 5th April 2022 570,000
NET BOOK VALUE
At 5th April 2022 570,000
At 5th April 2021 570,000

Fair value at 5th April 2022 is represented by:
£   
Valuation in 2012 76,611
Valuation in 2017 (10,001 )
Cost 503,390
570,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 8,993 8,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 12,000 12,000
Taxation and social security 2,778 2,924
Other creditors 249,710 244,301
264,488 259,225

Meadowmay Limited (Registered number: 06113515)

Notes to the Financial Statements - continued
for the year ended 5th April 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 221,000 233,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 173,000 185,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 233,000 245,000

The bank loans are secured by a charge over the freehold properties.

9. RESERVES

Called up share capital

Called up share capital represents the nominal value of shares that have been issued

Non-distributable reserves

The revaluation reserve represents the cumulate effect of revaluations of tangible fixed assets where a policy of revaluation has been adopted.

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.