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Registration number: 13217119

Meadow Consulting Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Meadow Consulting Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Meadow Consulting Limited

Company Information

Directors

Mr M C S Krefta

Dr A R Krefta

Registered office

C/o Wortham Jaques Ltd
130A High Street
Crediton
Devon
EX17 3LQ

Accountants

Wortham Jaques Limited
130a High Street,
Crediton,
Devon
EX17 3LQ

 

Meadow Consulting Limited

(Registration number: 13217119)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,320

2,250

Current assets

 

Cash at bank and in hand

 

120,591

84,121

Creditors: Amounts falling due within one year

5

(32,431)

(34,094)

Net current assets

 

88,160

50,027

Total assets less current liabilities

 

90,480

52,277

Provisions for liabilities

(441)

-

Net assets

 

90,039

52,277

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

89,939

52,177

Shareholders' funds

 

90,039

52,277

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Meadow Consulting Limited

(Registration number: 13217119)
Balance Sheet as at 28 February 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 November 2023 and signed on its behalf by:
 

.........................................
Mr M C S Krefta
Director

.........................................
Dr A R Krefta
Director

 

Meadow Consulting Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/o Wortham Jaques Ltd
130A High Street
Crediton
Devon
EX17 3LQ
United Kingdom

These financial statements were authorised for issue by the Board on 13 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Meadow Consulting Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Meadow Consulting Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

3,000

3,000

Additions

843

843

At 28 February 2023

3,843

3,843

Depreciation

At 1 March 2022

750

750

Charge for the year

773

773

At 28 February 2023

1,523

1,523

Carrying amount

At 28 February 2023

2,320

2,320

At 28 February 2022

2,250

2,250

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

784

-

Taxation and social security

9,824

11,711

Accruals and deferred income

808

600

Other creditors

21,015

21,783

32,431

34,094

 

Meadow Consulting Limited

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

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

50

50

50

50

Ordinary B shares of £1 each

50

50

50

50

 

100

100

100

100

7

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £40.00 (2022 - £Nil) per each Ordinary A shares

 

2,000

 

-

Final dividend of £40.00 (2022 - £Nil) per each Ordinary B shares

 

2,000

 

-

   

4,000

 

-

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

£400.00 (2022 - £40.00) per each Ordinary A shares share totalling £20,000 (2022 - £2,000.00)

£540.00 (2022 - £40.00) per each Ordinary B shares share totalling £27,000 (2022 - £2,000.00)

These dividends have not been accrued in the balance sheet.

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

18,149

18,235