Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-0141100 - Development of building projectsfalse00falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09912657 2023-01-01 2023-12-31 09912657 2022-01-01 2022-12-31 09912657 2023-12-31 09912657 2022-12-31 09912657 c:Director1 2023-01-01 2023-12-31 09912657 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 09912657 d:OtherPropertyPlantEquipment 2023-12-31 09912657 d:OtherPropertyPlantEquipment 2022-12-31 09912657 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09912657 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 09912657 d:CurrentFinancialInstruments 2023-12-31 09912657 d:CurrentFinancialInstruments 2022-12-31 09912657 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09912657 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09912657 d:ShareCapital 2023-12-31 09912657 d:ShareCapital 2022-12-31 09912657 d:RetainedEarningsAccumulatedLosses 2023-12-31 09912657 d:RetainedEarningsAccumulatedLosses 2022-12-31 09912657 c:FRS102 2023-01-01 2023-12-31 09912657 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09912657 c:FullAccounts 2023-01-01 2023-12-31 09912657 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09912657 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 09912657 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 09912657




















MELDRUM DEVELOPMENTS LTD

UNAUDITED
 FINANCIAL STATEMENTS
 31 DECEMBER 2023


















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MELDRUM DEVELOPMENTS LTD
REGISTERED NUMBER: 09912657

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
68,120
-

Tangible assets
 5 
131,175
126,425

  
199,295
126,425

Current assets
  

Debtors: amounts falling due within one year
 6 
200
27,570

Cash at bank and in hand
 7 
3,232
3,947

  
3,432
31,517

Creditors: amounts falling due within one year
 8 
(501,728)
(452,227)

Net current liabilities
  
 
 
(498,296)
 
 
(420,710)

Total assets less current liabilities
  
(299,001)
(294,285)

  

Net liabilities
  
(299,001)
(294,285)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(299,011)
(294,295)

  
(299,001)
(294,285)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D M Meldrum
Director

Page 1

 
MELDRUM DEVELOPMENTS LTD
REGISTERED NUMBER: 09912657

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

Date: 7 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MELDRUM DEVELOPMENTS LTD
 

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

1.


General information

Meldrum Developments Ltd ('the company') is a private company limited by shares, incoroporated and domiciled in England. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has net current liabilities due to amounts owed to related parties which will not require repayment if this will jeopardise the company's ability to continue as a going concern.
For this reason, in addition to the future plans for the company, management believe the going concern basis to be appropriate for the financial statements.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

  
2.4

Tangible fixed assets and depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
MELDRUM DEVELOPMENTS LTD
 

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

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
MELDRUM DEVELOPMENTS LTD
 

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

4.


Intangible assets



Development expenditure

£



Cost


At 1 January 2023
-


Additions
68,120



At 31 December 2023

68,120






Net book value



At 31 December 2023
68,120




5.


Tangible fixed assets





Assets under construction

£



Cost or valuation


At 1 January 2023
126,425


Additions
4,750



At 31 December 2023

131,175






Net book value



At 31 December 2023
131,175


6.


Debtors

2023
2022
£
£


Other debtors
200
27,570


Page 5

 
MELDRUM DEVELOPMENTS LTD
 

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

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,232
3,947



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,215
48,462

Other creditors
499,013
403,765

Accruals and deferred income
1,500
-

501,728
452,227



9.


Related party transactions

Included within other creditors is £499,012 (2022: £367,112) owed to Meldrum Construction Services Limited, a company controlled by Mr D M Meldrum. The balance is interest free and repayable on demand. 
Included within other debtors is £Nil (2022: £26,320) due from Meldrum Construction Services Limited, this balance is also interest free and repayable on demand.


Page 6