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REGISTERED NUMBER: 02609505 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Meridian Medical Limited

Meridian Medical Limited (Registered number: 02609505)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

Meridian Medical Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J Fenton
M Fenton





REGISTERED OFFICE: Unit 1 Thorgate Road
Lineside Industrial Estate
Littlehampton
West Sussex
BN17 7LU





REGISTERED NUMBER: 02609505 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Meridian Medical Limited (Registered number: 02609505)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,428,645 1,394,086

CURRENT ASSETS
Stocks 2,370,453 1,699,503
Debtors 5 1,546,988 1,293,325
Cash at bank and in hand 515,128 650,152
4,432,569 3,642,980
CREDITORS
Amounts falling due within one year 6 1,164,111 833,363
NET CURRENT ASSETS 3,268,458 2,809,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,697,103

4,203,703

CREDITORS
Amounts falling due after more than one
year

7

(36,288

)

-

PROVISIONS FOR LIABILITIES (173,039 ) (103,162 )
NET ASSETS 4,487,776 4,100,541

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 4,437,776 4,050,541
SHAREHOLDERS' FUNDS 4,487,776 4,100,541

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Medical Limited (Registered number: 02609505)

Balance Sheet - continued
31 March 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 26 September 2023 and were signed on its behalf by:




M Fenton - Director



J Fenton - Director


Meridian Medical Limited (Registered number: 02609505)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Meridian Medical 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 Medical Limited (Registered number: 02609505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 114 (2022 - 86 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 981,766 2,017,293 274,874
Additions - 128,709 27,918
Disposals - (43,870 ) -
At 31 March 2023 981,766 2,102,132 302,792
DEPRECIATION
At 1 April 2022 199,312 1,543,359 165,268
Charge for year 19,628 89,935 15,606
Eliminated on disposal - (40,756 ) -
At 31 March 2023 218,940 1,592,538 180,874
NET BOOK VALUE
At 31 March 2023 762,826 509,594 121,918
At 31 March 2022 782,454 473,934 109,606

Meridian Medical Limited (Registered number: 02609505)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 18,045 187,347 3,479,325
Additions - 30,055 186,682
Disposals - - (43,870 )
At 31 March 2023 18,045 217,402 3,622,137
DEPRECIATION
At 1 April 2022 10,433 166,867 2,085,239
Charge for year 1,903 21,937 149,009
Eliminated on disposal - - (40,756 )
At 31 March 2023 12,336 188,804 2,193,492
NET BOOK VALUE
At 31 March 2023 5,709 28,598 1,428,645
At 31 March 2022 7,612 20,480 1,394,086

Included within the net book value of land and buildings above is £762,827 (2022 - £782,455) in respect of freehold land and buildings.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 84,241
At 31 March 2023 84,241
DEPRECIATION
Charge for year 12,636
At 31 March 2023 12,636
NET BOOK VALUE
At 31 March 2023 71,605

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,381,619 1,166,635
Other debtors 165,369 126,690
1,546,988 1,293,325

Meridian Medical Limited (Registered number: 02609505)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 33,497 -
Trade creditors 695,332 499,296
Taxation and social security 285,950 265,181
Other creditors 149,332 68,886
1,164,111 833,363

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 36,288 -

Meridian Medical Limited

Report of the Accountants to the Directors of
Meridian Medical Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................