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Registration number: 08296859

Meaker Fencing Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Meaker Fencing Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Meaker Fencing Limited

Company Information

Directors

Mrs L Meaker

Mr GJ Meaker

Registered office

White Posts 73 Cross Road
Southwick
Brighton
BN42 4HH

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Meaker Fencing Limited

(Registration number: 08296859)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

33,513

38,415

Current assets

 

Stocks

5

91,000

82,000

Debtors

6

15,813

6,958

Cash at bank and in hand

 

412,439

320,719

 

519,252

409,677

Creditors: Amounts falling due within one year

7

(122,376)

(82,004)

Net current assets

 

396,876

327,673

Total assets less current liabilities

 

430,389

366,088

Provisions for liabilities

(6,799)

-

Net assets

 

423,590

366,088

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

423,490

365,988

Shareholders' funds

 

423,590

366,088

For the financial year ending 30 June 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.

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.

 

Meaker Fencing Limited

(Registration number: 08296859)
Balance Sheet as at 30 June 2023

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:



 

.........................................

Mr GJ Meaker

Director

 

Meaker Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
White Posts 73 Cross Road
Southwick
Brighton
BN42 4HH

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 and deferred 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.

 

Meaker Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

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

Plant & Machinery

25% Reducing Balance

Fixtures & Fittings

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Office Equipment

33% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Meaker Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 7).

 

Meaker Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

23,165

42,315

46,106

111,586

Additions

4,723

-

247

4,970

At 30 June 2023

27,888

42,315

46,353

116,556

Depreciation

At 1 July 2022

20,262

33,211

19,698

73,171

Charge for the year

932

2,276

6,664

9,872

At 30 June 2023

21,194

35,487

26,362

83,043

Carrying amount

At 30 June 2023

6,694

6,828

19,991

33,513

At 30 June 2022

2,903

9,104

26,408

38,415

5

Stocks

2023
£

2022
£

Other inventories

91,000

82,000

6

Debtors

Current

2023
£

2022
£

Trade debtors

9,618

3,662

Prepayments

2,887

2,877

Other debtors

3,308

419

 

15,813

6,958

7

Creditors

Creditors: amounts falling due within one year

 

Meaker Fencing Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

8,296

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

828

-

Taxation and social security

 

105,213

76,968

Accruals and deferred income

 

3,638

5,017

Other creditors

 

4,401

19

 

122,376

82,004

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £946.00 (2022 - £1,124.00) per ordinary share

 

94,600

 

112,410

         

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100