2022-03-012023-02-282023-02-28false03314621MEADOWVALE ESTATES 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MEADOWVALE ESTATES LIMITED

Registered Number
03314621
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

MEADOWVALE ESTATES LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

DOOLEY, Michael Lewis
TURNER, Iain

Registered Address

Ashfield Way Whitehall Estate
Whitehall Road
Leeds
LS12 5JB

Registered Number

03314621 (England and Wales)
MEADOWVALE ESTATES LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets76,78410,408
6,78410,408
Current assets
Stocks30,85621,978
Debtors74,30142,586
Cash at bank and on hand50,75547,941
155,912112,505
Creditors amounts falling due within one year10(145,973)(93,236)
Net current assets (liabilities)9,93919,269
Total assets less current liabilities16,72329,677
Creditors amounts falling due after one year(24,947)(43,788)
Provisions for liabilities(1,289)-
Net assets(9,513)(14,111)
Capital and reserves
Called up share capital300300
Profit and loss account(9,813)(14,411)
Shareholders' funds(9,513)(14,111)
The financial statements were approved and authorised for issue by the Board of Directors on 25 October 2023, and are signed on its behalf by:
DOOLEY, Michael Lewis
Director
TURNER, Iain
Director

Registered Company No. 03314621
MEADOWVALE ESTATES LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is the construction of other civil engineering projects not elsewhere classified.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-3
Fixtures and fittings-10
Vehicles20-
Office Equipment-4
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The directors have reviewed the financial position of the company and they are of the consideration that the company will continue trading as a going concern.
6.Employee information

20232022
Average number of employees during the year66
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 March 2255,984
Additions432
Disposals(7,138)
At 28 February 2349,278
Depreciation and impairment
At 01 March 2245,576
Charge for year4,056
On disposals(7,138)
At 28 February 2342,494
Net book value
At 28 February 236,784
At 28 February 2210,408
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
TURNER, Iain03,0004,550(1,550)
DOOLEY, Michael Lewis03,0004,500(1,500)
06,0009,050(3,050)
9.Debtors within one year

2023

2022

££
Other debtors29,24716,924
Prepayments and accrued income45,05425,662
Total74,30142,586
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables122,70379,622
Bank borrowings and overdrafts9,890-
Taxation and social security7,02313,614
Other creditors6,357-
Total145,97393,236
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.