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REGISTERED NUMBER: 05231348 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Meridian Dry Lining Limited

Meridian Dry Lining Limited (Registered number: 05231348)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meridian Dry Lining Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: Mr T J Harding
Mr D J Necci





SECRETARY: Mr T J Harding





REGISTERED OFFICE: Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG





BUSINESS ADDRESS: 28 Lancet Lane
Loose
Maidstone
Kent
ME15 9RY





REGISTERED NUMBER: 05231348 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Meridian Dry Lining Limited (Registered number: 05231348)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,256 47,424

CURRENT ASSETS
Stocks 3,583 2,033
Debtors 5 309,278 314,516
Cash at bank 218,881 144,298
531,742 460,847
CREDITORS
Amounts falling due within one year 6 191,814 112,301
NET CURRENT ASSETS 339,928 348,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

377,184

395,970

CREDITORS
Amounts falling due after more than
one year

7

(24,111

)

(34,022

)

PROVISIONS FOR LIABILITIES (7,079 ) (9,011 )
NET ASSETS 345,994 352,937

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 345,894 352,837
SHAREHOLDERS' FUNDS 345,994 352,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

Meridian Dry Lining Limited (Registered number: 05231348)

Balance Sheet - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:




Mr T J Harding - Director



Mr D J Necci - Director


Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Meridian Dry Lining 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools and equipment - 15% on reducing balance
Office equipment - 33% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Tools and Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2022 19,639 5,371 172,496 197,506
Additions - 972 - 972
Disposals - (1,224 ) - (1,224 )
At 28 February 2023 19,639 5,119 172,496 197,254
DEPRECIATION
At 1 March 2022 11,311 4,368 134,403 150,082
Charge for year 1,248 369 9,523 11,140
Eliminated on disposal - (1,224 ) - (1,224 )
At 28 February 2023 12,559 3,513 143,926 159,998
NET BOOK VALUE
At 28 February 2023 7,080 1,606 28,570 37,256
At 28 February 2022 8,328 1,003 38,093 47,424

Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 263,696 287,216
Other debtors 45,582 27,300
309,278 314,516

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 54,585 28,709
Trade creditors 105,861 69,932
Taxation and social security 28,008 10,460
Other creditors 3,360 3,200
191,814 112,301

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 24,111 34,022

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank overdrafts 44,674 19,043

The overdraft facility is secured by way of a mortgage debenture given by the company and a personal guarantee of £32,000 provided by the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100