METEOR ELECTRICAL LIMITED

Company Registration Number:
NI073275 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 December 2022

Period of accounts

Start date: 01 January 2022

End date: 31 December 2022

METEOR ELECTRICAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2022

Balance sheet
Notes

METEOR ELECTRICAL LIMITED

Balance sheet

As at 31 December 2022


Notes

2022

2021


£

£
Fixed assets
Tangible assets: 3 2,505,678 2,555,233
Total fixed assets: 2,505,678 2,555,233
Current assets
Stocks: 650,558 484,129
Debtors:   1,836,106 1,340,582
Cash at bank and in hand: 1,068,817 161,969
Total current assets: 3,555,481 1,986,680
Creditors: amounts falling due within one year:   (1,455,516) (1,247,055)
Net current assets (liabilities): 2,099,965 739,625
Total assets less current liabilities: 4,605,643 3,294,858
Creditors: amounts falling due after more than one year:   (2,651,653) (1,790,168)
Provision for liabilities: (167,200) (41,600)
Total net assets (liabilities): 1,786,790 1,463,090
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 1,786,788 1,463,088
Shareholders funds: 1,786,790 1,463,090

The notes form part of these financial statements

METEOR ELECTRICAL LIMITED

Balance sheet statements

For the year ending 31 December 2022 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 12 October 2023
and signed on behalf of the board by:

Name: John Conway
Status: Director

The notes form part of these financial statements

METEOR ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its useful life.Freehold property: 2% on costPlant and machinery: 20% on costFixtures and fittings: 15% on reducing balanceMotor vehicles: 20% on reducing balanceComputer equipment: 25% on cost

METEOR ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

2. Employees

2022 2021
Average number of employees during the period 26 30

METEOR ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible Assets

Total
Cost £
At 01 January 2022 3,434,537
Additions 271,753
At 31 December 2022 3,706,290
Depreciation
At 01 January 2022 879,304
Charge for year 321,308
At 31 December 2022 1,200,612
Net book value
At 31 December 2022 2,505,678
At 31 December 2021 2,555,233

METEOR ELECTRICAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Financial commitments

The company has financial commitments of £2,581,132 including loans and hire purchase agreements.