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REGISTERED NUMBER: 09048952 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MEIGHT INNOVATION LIMITED

MEIGHT INNOVATION LIMITED (REGISTERED NUMBER: 09048952)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEIGHT INNOVATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: B D Goodall





SECRETARY: L P Guerin





REGISTERED OFFICE: Finchale House
Belmont Business Park
Durham
DH1 1TW





REGISTERED NUMBER: 09048952 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

MEIGHT INNOVATION LIMITED (REGISTERED NUMBER: 09048952)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 44,342 33,213

CREDITORS
Amounts falling due within one year 6 43,675 17,382
NET CURRENT ASSETS 667 15,831
TOTAL ASSETS LESS CURRENT
LIABILITIES

667

15,831

CREDITORS
Amounts falling due after more than one
year

7

32,299

37,951
NET LIABILITIES (31,632 ) (22,120 )

CAPITAL AND RESERVES
Called up share capital 8 101 101
Retained earnings (31,733 ) (22,221 )
SHAREHOLDERS' FUNDS (31,632 ) (22,120 )

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

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

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





B D Goodall - Director


MEIGHT INNOVATION LIMITED (REGISTERED NUMBER: 09048952)

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

1. STATUTORY INFORMATION

Meight Innovation 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The director has considered the finance performance and the position of the company along with its cashflows for a period in excess of 12 months from the date of approval of these financial statements. The results of that review have led them to conclude that the company may continue to operate from its operating resources. For this reason the going concern basis of accounting has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

MEIGHT INNOVATION LIMITED (REGISTERED NUMBER: 09048952)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 9,088
DEPRECIATION
At 1 June 2022
and 31 May 2023 9,088
NET BOOK VALUE
At 31 May 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 44,342 33,213

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,677 10,610
Trade creditors 1,346 1,380
Taxation and social security 3,712 3,712
Other creditors 2,940 1,680
43,675 17,382

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 32,299 37,951

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100
1 Redeemable A shares £1 1 1
101 101

MEIGHT INNOVATION LIMITED (REGISTERED NUMBER: 09048952)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
B D Goodall
Balance outstanding at start of year 33,098 66,105
Amounts advanced 12,629 -
Amounts repaid (1,500 ) (33,007 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 44,227 33,098