Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 03015637 J Cooling S Greenfield iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03015637 2022-12-31 03015637 2023-12-31 03015637 2023-01-01 2023-12-31 03015637 frs-core:CurrentFinancialInstruments 2023-12-31 03015637 frs-core:FurnitureFittings 2023-12-31 03015637 frs-core:FurnitureFittings 2023-01-01 2023-12-31 03015637 frs-core:FurnitureFittings 2022-12-31 03015637 frs-core:PlantMachinery 2023-12-31 03015637 frs-core:PlantMachinery 2023-01-01 2023-12-31 03015637 frs-core:PlantMachinery 2022-12-31 03015637 frs-core:ShareCapital 2023-12-31 03015637 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 03015637 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03015637 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 03015637 frs-bus:SmallEntities 2023-01-01 2023-12-31 03015637 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03015637 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03015637 frs-bus:Director1 2023-01-01 2023-12-31 03015637 frs-bus:Director2 2023-01-01 2023-12-31 03015637 frs-countries:EnglandWales 2023-01-01 2023-12-31 03015637 2021-12-31 03015637 2022-12-31 03015637 2022-01-01 2022-12-31 03015637 frs-core:CurrentFinancialInstruments 2022-12-31 03015637 frs-core:WithinOneYear 2022-12-31 03015637 frs-core:ShareCapital 2022-12-31 03015637 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 03015637
MERIDIAN LEGAL SYSTEMS LIMITED
Unaudited Financial Statements
For The Year Ended 31 December 2023
Brooks & Partners Accountants Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 03015637
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16 782
16 782
CURRENT ASSETS
Stocks 5 323 332
Debtors 6 465,428 386,361
Cash at bank and in hand 38,450 64,281
504,201 450,974
Creditors: Amounts Falling Due Within One Year 7 (86,273 ) (94,995 )
NET CURRENT ASSETS (LIABILITIES) 417,928 355,979
TOTAL ASSETS LESS CURRENT LIABILITIES 417,944 356,761
NET ASSETS 417,944 356,761
CAPITAL AND RESERVES
Called up share capital 8 40,004 40,004
Income Statement 377,940 316,757
SHAREHOLDERS' FUNDS 417,944 356,761
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For the year ending 31 December 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
J Cooling
Director
S Greenfield
Director
16 May 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
MERIDIAN LEGAL SYSTEMS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03015637 . The registered office is 22 St Peter's Street, Stamford, Lincolnshire, PE9 2PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has been invoiced for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.3% straight line
Fixtures & Fittings 33.3% straight line
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 3)
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 27,556 9,826 37,382
As at 31 December 2023 27,556 9,826 37,382
Depreciation
As at 1 January 2023 26,774 9,826 36,600
Provided during the period 766 - 766
As at 31 December 2023 27,540 9,826 37,366
Net Book Value
As at 31 December 2023 16 - 16
As at 1 January 2023 782 - 782
5. Stocks
2023 2022
£ £
Materials 323 332
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 14,384 23,379
Prepayments and accrued income 453 1,603
Amounts owed by group undertakings 89,212 -
104,049 24,982
Due after more than one year
Amounts owed by group undertakings 361,379 361,379
465,428 386,361
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 4,588 6,219
Corporation tax 18,213 17,892
Other taxes and social security 1,039 752
VAT 8,595 16,762
Other creditors 647 8
Accruals and deferred income 50,220 50,210
Directors' loan accounts 2,971 3,152
86,273 94,995
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 40,004 40,004
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year - 2,634
- 2,634
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10. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £562 (2022: Nil) were due to the fund. They are included in Other Creditors.
11. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid - 72,926
12. Related Party Transactions
At the year end there was £450,591 (2022: £361,379) owing from the parent company.
£361,379 (2022: £361,379) is a long term loan which is unsecured, interest free and repayable only as advised by the group board of directors.
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