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Company Registration No. 08881330 (England and Wales)
MEE Glazed Products Limited Unaudited accounts for the year ended 28 February 2023
MEE Glazed Products Limited Unaudited accounts Contents
Page
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MEE Glazed Products Limited Company Information for the year ended 28 February 2023
Directors
Philip Anthony Ellis Keith Leslie Mcintyre
Company Number
08881330 (England and Wales)
Registered Office
Unit 17 Lamby Way Workshops Lamby Way, Rumney Cardiff CF3 2EQ
Accountants
Insight Accountancy Unit 16, Lamby Way Workshops Lamby Way Cardiff CF3 2EQ
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MEE Glazed Products Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,856 
15,800 
Current assets
Inventories
2,000 
2,000 
Debtors
1,595 
5,040 
Cash at bank and in hand
(8,440)
39,463 
(4,845)
46,503 
Creditors: amounts falling due within one year
(54,742)
(55,101)
Net current liabilities
(59,587)
(8,598)
Total assets less current liabilities
(47,731)
7,202 
Creditors: amounts falling due after more than one year
(24,721)
(36,563)
Net liabilities
(72,452)
(29,361)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(72,454)
(29,363)
Shareholders' funds
(72,452)
(29,361)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by
Philip Anthony Ellis Director Company Registration No. 08881330
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MEE Glazed Products Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
MEE Glazed Products Limited is a private company, limited by shares, registered in England and Wales, registration number 08881330. The registered office is Unit 17 Lamby Way Workshops, Lamby Way, Rumney, Cardiff, CF3 2EQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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
The tax expense for the period comprised current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% Straight Line
Motor vehicles
25% Reducing Balance
Computer equipment
25% Straight Line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents
Cash and cash equivalents comprise cash in 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.
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MEE Glazed Products Limited Notes to the Accounts for the year ended 28 February 2023
Debtors
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.
Creditors
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at 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.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
2,221 
27,895 
957 
31,073 
Additions
- 
150 
- 
150 
At 28 February 2023
2,221 
28,045 
957 
31,223 
Depreciation
At 1 March 2022
2,221 
12,574 
478 
15,273 
Charge for the year
- 
3,855 
239 
4,094 
At 28 February 2023
2,221 
16,429 
717 
19,367 
Net book value
At 28 February 2023
- 
11,616 
240 
11,856 
At 28 February 2022
- 
15,321 
479 
15,800 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,595 
5,040 
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MEE Glazed Products Limited Notes to the Accounts for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
1,842 
1,842 
Trade creditors
27,818 
41,402 
Taxes and social security
16,828 
6,989 
Other creditors
1,480 
2,394 
Loans from directors
(3,226)
(7,526)
54,742 
55,101 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
22,500 
32,500 
Obligations under finance leases and hire purchase contracts
2,221 
4,063 
24,721 
36,563 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Philip Anthony Ellis
Philip Ellis
2,783 
21,620 
20,825 
3,578 
Keith Leslie Mcintyre
Keith McIntyre
(10,309)
26,729 
23,224 
(6,804)
(7,526)
48,349 
44,049 
(3,226)
An interest-free loan had been provided by the company to the directors, repayable within 9 months.
9
Transactions with related parties
The directors have provided the company with an interest-free loan, which is repayable on demand. At the balance sheet date the amount due to the directors was £3,226 (2022 - £7,526).
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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