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REGISTERED NUMBER: 08657378 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ME WRIGHT HOLDINGS LIMITED

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ME WRIGHT HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M T J Wright
E A Wright





REGISTERED OFFICE: 5 Everdon Park
Heartlands Industrial Park
Daventry
Northamptonshire
NN11 8YJ





REGISTERED NUMBER: 08657378 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 340,256 25,680
Investments 5 460,000 460,000
800,256 485,680

CURRENT ASSETS
Debtors 6 - 1,963
Investments 7 60,000 100,000
Cash at bank 401,436 240,265
461,436 342,228
CREDITORS
Amounts falling due within one year 8 65,732 54,672
NET CURRENT ASSETS 395,704 287,556
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,195,960

773,236

CREDITORS
Amounts falling due after more than one
year

9

(171,752

)

-

PROVISIONS FOR LIABILITIES (4,455 ) (5,981 )
NET ASSETS 1,019,753 767,255

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 1,019,653 767,155
SHAREHOLDERS' FUNDS 1,019,753 767,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2024 and were signed on its behalf by:




M T J Wright - Director



E A Wright - Director


ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

ME Wright Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 - 62,583 195
Additions 326,282 - -
At 31 December 2023 326,282 62,583 195
DEPRECIATION
At 1 January 2023 - 37,504 175
Charge for year 5,286 6,270 5
At 31 December 2023 5,286 43,774 180
NET BOOK VALUE
At 31 December 2023 320,996 18,809 15
At 31 December 2022 - 25,079 20

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 1 5,891 68,670
Additions - - 326,282
At 31 December 2023 1 5,891 394,952
DEPRECIATION
At 1 January 2023 1 5,310 42,990
Charge for year - 145 11,706
At 31 December 2023 1 5,455 54,696
NET BOOK VALUE
At 31 December 2023 - 436 340,256
At 31 December 2022 - 581 25,680

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 460,000
NET BOOK VALUE
At 31 December 2023 460,000
At 31 December 2022 460,000

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 127
Prepayments and accrued income - 1,836
- 1,963

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Short term deposits 60,000 100,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 12,724 -
Amounts owed to group undertakings 43,611 43,805
Tax 5,974 3,408
VAT 1,399 702
Directors' current accounts 451 5,257
Accruals and deferred income 1,573 1,500
65,732 54,672

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 13,224 -
Bank loans - 2-5 years 78,895 -
Bank loans more than 5 years 79,633 -
171,752 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 79,633 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 184,476 -

National Westminster Bank hold a mortgage over the property at Unit 2 Everdon Park, Heartlands Business Park, NN11 5YJ. Repayments commenced May 2023.

ME WRIGHT HOLDINGS LIMITED (REGISTERED NUMBER: 08657378)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100