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Registration number: 07201736

Meah Holdings Limited

Annual Report and Financial Statements

for the Period from 1 September 2021 to 28 February 2023

 

Meah Holdings Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Independent Auditor's Report

4 to 6

Profit and Loss Account and Statement of Retained Earnings

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10 to 21

 

Meah Holdings Limited

Company Information

Director

Mr James John Meah

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Auditors

Azets Audit Services
St. David's Court
Union Street
Wolverhampton
WV1 3JE

 

Meah Holdings Limited

Strategic Report for the Period from 1 September 2021 to 28 February 2023

Introduction
The directors present their Strategic Report on the company for the period ended 28 February 2023.

The principal activity of the company is that of a holding company with the principal activity of the groups main subsidiary being the manufacture, supply and installation of UPVC windows and doors.

Business Review
Meah Holdings Ltd is the holding company for Burbage Custom Windows Limited.

The company received dividends, management charges and rental income during the period and paid out dividends to shareholders.

The balance sheet of the company at the period end shows an increase in shareholders funds, cash forecasting is a key part of the business and whilst there has been a reduction in cash at bank this is purely due to participation in group loan arrangements which are regularly monitored by the Directors.

Principal risks and uncertainties
Risk is regularly reviewed and monitored by the directors as they consider effective risk management is key to the future success of the company.

As a holding company there has been no negative impact by the current economic climate.

On review of the company’s budget and forecasts, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial information.

Key Performance Indicators
As a holding company there are no financial or non-financial performance indicators.
 

Approved and authorised by the director on 30 January 2024
 

.........................................
Mr James John Meah
Director

 

Meah Holdings Limited

Director's Report for the Period from 1 September 2021 to 28 February 2023

The director presents his report and the financial statements for the period from 1 September 2021 to 28 February 2023.

Directors of the company

The directors who held office during the period were as follows:

Mr James John Meah

Mrs Lynne Florence Meah (ceased 29 August 2023)

Principal activity

The principal activity of the company is is that of a holding company.

Approved and authorised by the director on 30 January 2024
 

.........................................
Mr James John Meah
Director

 

Meah Holdings Limited

Independent Auditor's Report to the Members of Meah Holdings Limited

Opinion

We have audited the financial statements of Meah Holdings Limited (the 'company') for the period ended 28 February 2023 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 28 February 2023 and of its profit for the period then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Meah Holdings Limited

Independent Auditor's Report to the Members of Meah Holdings Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

the information given in the Strategic Report and Director's Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and

the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.

Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

 

Meah Holdings Limited

Independent Auditor's Report to the Members of Meah Holdings Limited

Extent to which the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future
developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
• Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Lee Meredith BFP ACA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services,
Chartered Accountants
Statutory Auditor
St. David's Court
Union Street
Wolverhampton
WV1 3JE

30 January 2024

 

Meah Holdings Limited

Profit and Loss Account and Statement of Retained Earnings for the Period from 1 September 2021 to 28 February 2023

Note

2023
£

(As restated)

2021
£

Turnover

3

110,743

80,686

Administrative expenses

 

(198,288)

(65,017)

Other operating income

4

480,000

321,130

Operating profit

5

392,455

336,799

Fair value movement on investment properties

 

9,000

(83,891)

Income from shares in group undertakings

 

1,600,000

1,280,000

Other interest receivable and similar income

7

5,031

1,697

 

1,614,031

1,197,806

Profit before tax

 

2,006,486

1,534,605

Taxation

11

(77,963)

(53,046)

Profit for the financial period

 

1,928,523

1,481,559

Retained earnings brought forward

 

2,984,018

2,232,459

Dividends paid

 

(1,549,500)

(730,000)

Retained earnings carried forward

 

3,363,041

2,984,018

 

Meah Holdings Limited

(Registration number: 07201736)
Balance Sheet as at 28 February 2023

Note

2023
£

(As restated)

2021
£

Fixed assets

 

Tangible assets

12

484,037

499,065

Investment property

13

529,000

520,000

Investments

14

110

110

 

1,013,147

1,019,175

Current assets

 

Debtors

15

2,215,763

468,840

Cash at bank and in hand

 

1,531,614

3,096,743

 

3,747,377

3,565,583

Creditors: Amounts falling due within one year

17

(1,397,383)

(1,600,640)

Net current assets

 

2,349,994

1,964,943

Net assets

 

3,363,141

2,984,118

Capital and reserves

 

Called up share capital

100

100

Retained earnings

3,363,041

2,984,018

Shareholders' funds

 

3,363,141

2,984,118

Approved and authorised by the director on 30 January 2024
 

.........................................
Mr James John Meah
Director

 

Meah Holdings Limited

Statement of Changes in Equity for the Period from 1 September 2021 to 28 February 2023

Share capital
£

Retained earnings
£

Total
£

At 1 September 2021 (As restated)

100

2,984,018

2,984,118

Profit for the period

-

1,928,523

1,928,523

Dividends

-

(1,549,500)

(1,549,500)

At 28 February 2023

100

3,363,041

3,363,141

Share capital
£

Retained earnings
£

Total
£

At 1 September 2020 (As restated)

100

2,232,459

2,232,559

Profit for the period as previously reported

-

1,484,387

1,484,387

Prior period adjustment

-

(2,828)

(2,828)

Dividends

-

(730,000)

(730,000)

At 31 August 2021 (As restated)

100

2,984,018

2,984,118

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

1

General information

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

The address of its registered office is:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

The principal place of business is:
Unit J
Tungsten Park
Maple Drive
Hinckley
Leicestershire
LE10 3BE
England

These financial statements were authorised for issue by the director on 30 January 2024.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;
• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of its ultimate parent JM Properties & Investments Ltd. These consolidated financial statements are available from The Registrar of Companies, Cardiff.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
 

Presentational currency and level of rounding
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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.

Government grants

The accrual model is adopted for the recognition of grant income received.

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.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

IT equipment

3 years straight line

Motor vehicles

25% reducing balance

Plant & machinery

25% reducing balance

Land & buildings

50 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from banks and other third parties and loans to related parties.
 

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

3

Turnover

The analysis of the company's revenue for the period from continuing operations is as follows:

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Rental income from investment property

110,743

80,686

4

Other operating income

The analysis of the company's other operating income for the period is as follows:

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Government grants

-

1,130

Management charges

480,000

320,000

480,000

321,130

5

Operating profit

Arrived at after charging/(crediting)

1 September 2021 to 28 February 2023
 £

(As restated)
Year ended 31 August 2021
 £

Depreciation expense

15,028

12,895

Loss on disposal of property, plant and equipment

-

1,932

6

Government grants

During the period the company received grants in support for the pandemic Covid-19. All grants received have been recognised using the accrual model.

The amount of grants recognised in the financial statements was £Nil (2021 - £1,130).

7

Other interest receivable and similar income

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Interest income on bank deposits

7

-

Other finance income

5,024

1,697

5,031

1,697

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

8

Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Wages and salaries

28,800

28,338

Social security costs

1,707

1,666

Other short-term employee benefits

10,713

2,330

Pension costs, defined contribution scheme

57,250

-

98,470

32,334

The average number of persons employed by the company (including the director) during the period, analysed by category was as follows:

2023
No.

2021
No.

Administration and support

2

3

2

3

9

Director's remuneration

The directors' remuneration for the period was as follows:

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Remuneration

28,800

28,338

Contributions paid to money purchase schemes

57,250

-

86,050

28,338

10

Auditors' remuneration

1 September 2021 to 28 February 2023
 £

Year ended 31 August 2021
 £

Audit of the financial statements

4,000

-


 

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

11

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2021
£

Current taxation

UK corporation tax

77,963

66,772

Deferred taxation

Arising from origination and reversal of timing differences

-

(13,726)

Tax expense in the income statement

77,963

53,046

The tax on profit before tax for the period is the same as the standard rate of corporation tax in the UK (2021 - the same as the standard rate of corporation tax in the UK) of 19% (2021 - 19%).

The differences are reconciled below:

2023
£

(As restated)

2021
£

Profit before tax

2,006,486

1,534,605

Corporation tax at standard rate

381,232

291,575

Effect of expense not deductible in determining taxable profit (tax loss)

2,201

15,940

Deferred tax credit from unrecognised tax loss or credit

(1,470)

(13,727)

Tax increase from effect of capital allowances and depreciation

-

2,458

Tax decrease from effect of dividends from UK companies

(304,000)

(243,200)

Total tax charge

77,963

53,046

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

12

Tangible assets

Land and buildings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2021

576,109

10,500

586,609

At 28 February 2023

576,109

10,500

586,609

Depreciation

At 1 September 2021

86,231

1,313

87,544

Charge for the period

11,583

3,445

15,028

At 28 February 2023

97,814

4,758

102,572

Carrying amount

At 28 February 2023

478,295

5,742

484,037

At 31 August 2021

489,878

9,187

499,065

Included within the net book value of land and buildings above is £478,295 (2021 - £489,878) in respect of freehold land and buildings.
 

13

Investment properties

2023
£

At 1 September 2021

520,000

Fair value adjustments

9,000

At 28 February 2023

529,000

2021
£

At 1 September 2020

480,000

Fair value adjustments

40,000

At 31 August 2021

520,000

As all investment properties were sold shortly after the financial year end, investment properties have been valued by taking into account the proceeds realised from these sales.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

14

Investments

28 February 2023
 £

(As restated)
31 August 2021
 £

Investments in subsidiaries

110

110

Subsidiaries

£

Cost or valuation

At 1 September 2021

110

Provision

Carrying amount

At 28 February 2023

110

At 31 August 2021

110

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2021

Subsidiary undertakings

Burbage Custom Windows Limited

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
United Kingdom
CV10 7RJ

England

Ordinary

100%

100%

Subsidiary undertakings

Burbage Custom Windows Limited

The principal activity of Burbage Custom Windows Limited is Manufacturing and fitting of windows.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

15

Debtors

Note

28 February 2023
 £

31 August 2021
 £

Trade debtors

 

2

2

Amounts owed by group undertakings

21

2,109,103

377,077

Other debtors

 

106,658

91,761

Total current trade and other debtors

 

2,215,763

468,840

16

Cash and cash equivalents

28 February 2023
 £

31 August 2021
 £

Cash at bank

1,531,614

3,096,743

17

Creditors

Note

28 February 2023
 £

31 August 2021
 £

Due within one year

 

Trade creditors

 

2,947

566

Amounts due to group undertakings

21

1,306,919

1,529,127

Social security and other taxes

 

2,470

2,424

Other payables

 

3,084

-

Accrued expenses

 

4,000

1,750

Income tax liability

11

77,963

66,773

 

1,397,383

1,600,640

18

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £57,250 (2021 - £Nil).

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

19

Share capital

Allotted, called up and fully paid shares

 

2023

2021

 

No.

£

No.

£

Ordinary share class 1 of £1 each

100

100

100

100

         

20

Dividends

Interim dividends paid

   

2023
£

 

2021
£

Interim dividend of £15,495.00 (2021 - £7,300.00) per each Ordinary share class 1

 

1,549,500

 

730,000

         

21

Related party transactions

Transactions with the director

2023

At 1 September 2021
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Loan to director 2

-

313,902

(313,902)

-

         

Loan to director 1

102,416

274,542

(270,300)

106,658

         

2021

At 1 September 2020
£

Advances to director
£

Repayments by director
£

At 31 August 2021
£

Loan to director 2

-

177,595

(177,595)

-

         
       

Loan to director 1

-

250,416

(148,000)

102,416

         
       

 

Summary of transactions with other related parties

JM Properties & Investments Ltd
(common director and shareholder)
Transfers/payments to JM Properties & Investments Ltd £2,606,526 (2021: £873,868).
Transfers/payments from JM Properties & Investements Ltd £874,500 (2021: £402,000).
At the balance sheet date the amount due from JM Properties & Investments Ltd was £2,109,103 (2021: £377,077).
These amounts are interest free, unsecured, and repayable on demand.

 

Meah Holdings Limited

Notes to the Financial Statements for the Period from 1 September 2021 to 28 February 2023

The company has taken exemption under s33.1a of FRS 102 from disclosing transactions with wholly owned group undertaking.

22

Ultimate controlling party

The ultimate controlling party is Mr James John Meah by virtue of his controlling shareholding in the ultimate parent undertaking, JM Properties & Investments Ltd, registered in England & Wales. The smallest and largest group financial statements which include the results of the company is that headed JM Properties & Investments Ltd, whose accounts are publicly available and can be obtained from the following address: Unit 8 The Courtyard Goldsmith Way, Eliot Business Park, Nuneaton, Warwickshire, CV10 7RJ.

23 Previous year adjustments

Changes in profit

£

Depreciation on Land and buildings

(11,583)

Correction of other comprehensive income

92,647

Fair value movements on investment property

(83,892)

(2,828)

Changes in equity

£

Equity as previously reported

3,537,092

Restatement of investments in subsidiary

(466,843)

Depreciation on Land and buildings

(86,231)

2,984,018

Investments in subsidiaries which had previously been included at fair value, these have now been included at cost, as the fair value could not be reliably measured.
Also, fair value movement on investment properties were previously incorrectly included in other comprehensive income, the movement has been reclassified to profit and loss.