VICTORIA MEALE DESIGN LIMITED

Company Registration Number:
06828008 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 01 May 2022

End date: 30 April 2023

VICTORIA MEALE DESIGN LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2023

Company Information - 3
Balance sheet - 4
Additional notes - 6
Balance sheet notes - 10

VICTORIA MEALE DESIGN LIMITED

Company Information

for the Period Ended 30 April 2023




Director: ANNA VICTORIA MEALE
Registered office: Unit 37 Station Lane Industrial Estate
Station Lane
Old Whittington
Chesterfield
Derbyshire
GBR
S41 9QX
Company Registration Number: 06828008 (England and Wales)

VICTORIA MEALE DESIGN LIMITED

Balance sheet

As at 30 April 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 0 240
Total fixed assets: 0 240
Current assets
Debtors: 5 8,731 3,817
Cash at bank and in hand: 6,666 44,504
Total current assets: 15,397 48,321
Creditors: amounts falling due within one year: 6 ( 13,252 ) ( 29,197 )
Net current assets (liabilities): 2,145 19,124
Total assets less current liabilities: 2,145 19,364
Provision for liabilities: ( 0 ) ( 48 )
Total net assets (liabilities): 2,145 19,316

The notes form part of these financial statements

VICTORIA MEALE DESIGN LIMITED

Balance sheet continued

As at 30 April 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 2,144 19,315
Shareholders funds: 2,145 19,316

For the year ending 30 April 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 22 February 2024
And Signed On Behalf Of The Board By:

Name: ANNA VICTORIA MEALE
Status: Director

The notes form part of these financial statements

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue comprises the fair value of the consideration received or receivable for the provision of services for the supply of interior design activities in the ordinary course of the company’s business activities. Revenue 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 future economic benefits will flow to the entity and specific criteria have been met for the company’s activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position 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 is charged so as to write off the cost of assets, less any estimated residual value, over their expected useful economic life as follows: Fixtures and fittings - 25% reducing balance basis, Office equipment - 25% straight line basis.

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 1. Accounting policies (continued)

    Other 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 our below. These policies have been consistently applied to all the years presented, unless otherwise stated.' Basis of preparation - 'The 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.' 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.' Deferred tax - 'Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.' 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 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 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.' Borrowings - 'Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.' Leases - 'Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.' 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.' Dividend - '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.' Financial instruments - 'Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.'

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 1 1

    The above totals include the director.

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 3. Off balance sheet disclosure

    No

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Tangible assets

Fixtures & fittings Office equipment Total
Cost £ £ £
At 01 May 2022 4,052 2,443 6,495
Additions - - -
Disposals ( 4,052 ) ( 2,443 ) ( 6,495 )
Revaluations - - -
Transfers - - -
At 30 April 2023 0 0 0
Depreciation
At 01 May 2022 3,812 2,443 6,255
Charge for year - - -
On disposals ( 3,812 ) ( 2,443 ) ( 6,255 )
Other adjustments - - -
At 30 April 2023 0 0 0
Net book value
At 30 April 2023 0 0 0
At 30 April 2022 240 0 240

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Debtors


2023
£

2022
£
Trade debtors 0 540
Other debtors 8,731 3,277
Total 8,731 3,817

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

6.Creditors: amounts falling due within one year note


2023
£

2022
£
Taxation and social security 7,747 2,695
Other creditors 5,505 26,502
Total 13,252 29,197

VICTORIA MEALE DESIGN LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2023

7.1. Loans to Directors

Name of director receiving advance or credit: ANNA VICTORIA MEALE
Description of the transaction:
Loan made from the company to the director.
Balance at 01 May 2022 ( 24,602 )
Advances or credits made: 28,678
Balance at 30 April 2023 4,076

During the year ended 30 April 2022 A V Meale loaned amounts to the company totalling £14,088. At the balance sheet date the amount due to A V Meale from the company was £24,602 (2021-£10,514).

No interest was charged, nor was any security offered by either party. The loan was repayable on demand.