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Company Registration No. 01585431 (England and Wales)
Meritplan Limited Unaudited accounts for the year ended 30 November 2023
Meritplan Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
63,195 
134,253 
Investments
95,000 
95,000 
158,195 
229,253 
Current assets
Inventories
83,976 
71,897 
Debtors
123,754 
127,724 
Cash at bank and in hand
149,797 
94,845 
357,527 
294,466 
Creditors: amounts falling due within one year
(428,082)
(389,593)
Net current liabilities
(70,555)
(95,127)
Total assets less current liabilities
87,640 
134,126 
Provisions for liabilities
Deferred tax
(3,463)
(2,924)
Net assets
84,177 
131,202 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
84,077 
131,102 
Shareholders' funds
84,177 
131,202 
For the year ending 30 November 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 25 July 2024 and were signed on its behalf by
Mahesh Vallabhbhai PATEL Director Company Registration No. 01585431
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Meritplan Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Meritplan Limited is a private company, limited by shares, registered in England and Wales, registration number 01585431. The registered office is 122 Charles Street, Leicester, LE1 1LB, United Kingdom.
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.
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:
Motor vehicles
20% reducing balance
Fixtures & fittings
10% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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Meritplan Limited Notes to the Accounts for the year ended 30 November 2023
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.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 December 2022
118,861 
107,645 
226,506 
Disposals
(69,519)
- 
(69,519)
At 30 November 2023
49,342 
107,645 
156,987 
Depreciation
At 1 December 2022
- 
92,253 
92,253 
Charge for the year
- 
1,539 
1,539 
At 30 November 2023
- 
93,792 
93,792 
Net book value
At 30 November 2023
49,342 
13,853 
63,195 
At 30 November 2022
118,861 
15,392 
134,253 
5
Investments
Other investments 
£ 
Valuation at 1 December 2022
95,000 
Valuation at 30 November 2023
95,000 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
94,838 
96,064 
Other debtors
28,916 
31,660 
123,754 
127,724 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
149,440 
134,102 
Taxes and social security
10,156 
18,583 
Other creditors
268,486 
236,831 
Accruals
- 
77 
428,082 
389,593 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Meritplan Limited Notes to the Accounts for the year ended 30 November 2023
9
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,000 
8,800 
10
Average number of employees
During the year the average number of employees was 17 (2022: 17).
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