IRIS Accounts Production v23.1.0.753 05489322 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure054893222022-07-31054893222023-07-31054893222022-08-012023-07-31054893222021-07-31054893222021-08-012022-07-31054893222022-07-3105489322ns16:EnglandWales2022-08-012023-07-3105489322ns15:PoundSterling2022-08-012023-07-3105489322ns11:Director12022-08-012023-07-3105489322ns11:PrivateLimitedCompanyLtd2022-08-012023-07-3105489322ns11:SmallEntities2022-08-012023-07-3105489322ns11:AuditExempt-NoAccountantsReport2022-08-012023-07-3105489322ns11:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3105489322ns11:SmallCompaniesRegimeForAccounts2022-08-012023-07-3105489322ns11:FullAccounts2022-08-012023-07-310548932212022-08-012023-07-3105489322ns11:Director32022-08-012023-07-3105489322ns11:Director42022-08-012023-07-3105489322ns11:Director52022-08-012023-07-3105489322ns11:CompanySecretary12022-08-012023-07-3105489322ns11:RegisteredOffice2022-08-012023-07-3105489322ns6:CurrentFinancialInstruments2023-07-3105489322ns6:CurrentFinancialInstruments2022-07-3105489322ns6:Non-currentFinancialInstruments2023-07-3105489322ns6:Non-currentFinancialInstruments2022-07-3105489322ns6:ShareCapital2023-07-3105489322ns6:ShareCapital2022-07-3105489322ns6:RetainedEarningsAccumulatedLosses2023-07-3105489322ns6:RetainedEarningsAccumulatedLosses2022-07-3105489322ns6:NetGoodwill2022-08-012023-07-3105489322ns6:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3105489322ns6:LongLeaseholdAssetsns6:LandBuildings2022-08-012023-07-3105489322ns6:PlantMachinery2022-08-012023-07-3105489322ns6:FurnitureFittings2022-08-012023-07-3105489322ns6:MotorVehicles2022-08-012023-07-3105489322ns6:ComputerEquipment2022-08-012023-07-3105489322ns6:NetGoodwill2022-07-3105489322ns6:PatentsTrademarksLicencesConcessionsSimilar2022-07-3105489322ns6:PatentsTrademarksLicencesConcessionsSimilar2022-08-012023-07-3105489322ns6:NetGoodwill2023-07-3105489322ns6:PatentsTrademarksLicencesConcessionsSimilar2023-07-3105489322ns6:NetGoodwill2022-07-3105489322ns6:PatentsTrademarksLicencesConcessionsSimilar2022-07-3105489322ns6:LandBuildings2022-07-3105489322ns6:LongLeaseholdAssetsns6:LandBuildings2022-07-3105489322ns6:PlantMachinery2022-07-3105489322ns6:LandBuildings2022-08-012023-07-3105489322ns6:LandBuildings2023-07-3105489322ns6:LongLeaseholdAssetsns6:LandBuildings2023-07-3105489322ns6:PlantMachinery2023-07-3105489322ns6:LandBuildings2022-07-3105489322ns6:LongLeaseholdAssetsns6:LandBuildings2022-07-3105489322ns6:PlantMachinery2022-07-3105489322ns6:FurnitureFittings2022-07-3105489322ns6:MotorVehicles2022-07-3105489322ns6:ComputerEquipment2022-07-3105489322ns6:FurnitureFittings2023-07-3105489322ns6:MotorVehicles2023-07-3105489322ns6:ComputerEquipment2023-07-3105489322ns6:FurnitureFittings2022-07-3105489322ns6:MotorVehicles2022-07-3105489322ns6:ComputerEquipment2022-07-3105489322ns6:AdditionsToInvestments2023-07-3105489322ns6:CostValuation2023-07-3105489322ns6:WithinOneYearns6:CurrentFinancialInstruments2023-07-3105489322ns6:WithinOneYearns6:CurrentFinancialInstruments2022-07-31
REGISTERED NUMBER: 05489322 (England and Wales)















Meridian Retail Limited

Financial Statements for the Year Ended 31st July 2023






Meridian Retail Limited (Registered number: 05489322)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meridian Retail Limited

Company Information
for the Year Ended 31st July 2023







DIRECTORS: Mrs J Lafford
S J Lafford
Mrs K A Taylor
D W Lafford





SECRETARY: Mrs K A Taylor





REGISTERED OFFICE: 2 Dollar Street
Cirencester
Gloucestershire
GL7 2AJ





REGISTERED NUMBER: 05489322 (England and Wales)





ACCOUNTANTS: PWB Accountancy Services Ltd
Chartered Certified Accountants
Halt View
80 Chesterton Lane
Cirencester
Gloucestershire
GL7 1YD

Meridian Retail Limited (Registered number: 05489322)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 238,000 272,000
Tangible assets 5 751,502 765,632
Investments 6 51,858 -
1,041,360 1,037,632

CURRENT ASSETS
Stocks 193,250 161,999
Debtors 7 110,573 145,610
Cash at bank and in hand 404,491 568,087
708,314 875,696
CREDITORS
Amounts falling due within one year 8 779,727 1,068,789
NET CURRENT LIABILITIES (71,413 ) (193,093 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

969,947

844,539

CREDITORS
Amounts falling due after more than one
year

9

179,538

199,819
NET ASSETS 790,409 644,720

CAPITAL AND RESERVES
Called up share capital 93 93
Retained earnings 790,316 644,627
SHAREHOLDERS' FUNDS 790,409 644,720

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Retail Limited (Registered number: 05489322)

Balance Sheet - continued
31st July 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 24th October 2023 and were signed on its behalf by:





S J Lafford - Director


Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

Meridian Retail 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment costs, over their estimated useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Alterations to leasehold property - 4% on cost
Plant and equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Pension costs and other post-retirement benefits
The company operates a money purchase 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 42 (2022 - 42 ) .

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

4. INTANGIBLE FIXED ASSETS
Leasehold
Goodwill premium Totals
£    £    £   
COST
At 1st August 2022
and 31st July 2023 850,000 70,000 920,000
AMORTISATION
At 1st August 2022 578,000 70,000 648,000
Amortisation for year 34,000 - 34,000
At 31st July 2023 612,000 70,000 682,000
NET BOOK VALUE
At 31st July 2023 238,000 - 238,000
At 31st July 2022 272,000 - 272,000

5. TANGIBLE FIXED ASSETS
Alterations
to
Freehold leasehold Plant and
property property equipment
£    £    £   
COST
At 1st August 2022 572,300 280,953 328,440
Additions - - 11,763
At 31st July 2023 572,300 280,953 340,203
DEPRECIATION
At 1st August 2022 - 157,332 277,252
Charge for year - 11,238 12,591
At 31st July 2023 - 168,570 289,843
NET BOOK VALUE
At 31st July 2023 572,300 112,383 50,360
At 31st July 2022 572,300 123,621 51,188

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2022 71,986 3,400 5,901 1,262,980
Additions - - 2,604 14,367
At 31st July 2023 71,986 3,400 8,505 1,277,347
DEPRECIATION
At 1st August 2022 55,375 1,488 5,901 497,348
Charge for year 3,322 478 868 28,497
At 31st July 2023 58,697 1,966 6,769 525,845
NET BOOK VALUE
At 31st July 2023 13,289 1,434 1,736 751,502
At 31st July 2022 16,611 1,912 - 765,632

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 51,858
At 31st July 2023 51,858
NET BOOK VALUE
At 31st July 2023 51,858

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,129 55,466
Other debtors 61,444 90,144
110,573 145,610

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,515 298,405
Trade creditors 549,291 585,072
Taxation and social security 198,864 177,419
Other creditors 9,057 7,893
779,727 1,068,789

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 179,538 199,819