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REGISTERED NUMBER: 00787449 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Meel Group (Projects) Limited

Previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 336,835 82,835
336,835 82,835

CURRENT ASSETS
Stocks 58,000 7,800
Debtors 6 2,873,346 1,401,531
Cash at bank and in hand 100,965 89,169
3,032,311 1,498,500
CREDITORS
Amounts falling due within one year 7 1,533,371 514,245
NET CURRENT ASSETS 1,498,940 984,255
TOTAL ASSETS LESS CURRENT LIABILITIES 1,835,775 1,067,090

CREDITORS
Amounts falling due after more than one year 8 (344,829 ) (59,153 )

PROVISIONS FOR LIABILITIES (19,372 ) (15,739 )
NET ASSETS 1,471,574 992,198

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,471,474 992,098
SHAREHOLDERS' FUNDS 1,471,574 992,198

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.

Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Balance Sheet - 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





Mr J A Dodd - Director


Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Meel Group (Projects) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00787449

Registered office: Ebenezer House
Ryecroft
Newcastle-under-Lyme
Staffordshire
ST5 2BE

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.

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

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 14,000
AMORTISATION
At 1 January 2023
and 31 December 2023 14,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 - 8,354 3,063
Additions 201,712 563 13,237
Disposals - - -
At 31 December 2023 201,712 8,917 16,300
DEPRECIATION
At 1 January 2023 - 7,679 2,805
Charge for year 20,171 185 2,079
Eliminated on disposal - - -
At 31 December 2023 20,171 7,864 4,884
NET BOOK VALUE
At 31 December 2023 181,541 1,053 11,416
At 31 December 2022 - 675 258

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 150,817 70,306 232,540
Additions 97,139 26,656 339,307
Disposals (33,825 ) - (33,825 )
At 31 December 2023 214,131 96,962 538,022
DEPRECIATION
At 1 January 2023 79,368 59,853 149,705
Charge for year 39,986 14,243 76,664
Eliminated on disposal (25,182 ) - (25,182 )
At 31 December 2023 94,172 74,096 201,187
NET BOOK VALUE
At 31 December 2023 119,959 22,866 336,835
At 31 December 2022 71,449 10,453 82,835

Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 67,863
Additions 97,139
At 31 December 2023 165,002
DEPRECIATION
At 1 January 2023 23,015
Charge for year 35,497
At 31 December 2023 58,512
NET BOOK VALUE
At 31 December 2023 106,490
At 31 December 2022 44,848

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,060,649 899,323
Amounts owed by group undertakings 687,207 457,873
Other debtors 125,490 44,335
2,873,346 1,401,531

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 73,000 10,000
Hire purchase contracts 56,740 14,446
Trade creditors 934,882 447,513
Amounts owed to group undertakings 207,764 -
Taxation and social security 250,871 35,450
Other creditors 10,114 6,836
1,533,371 514,245

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 283,768 25,000
Hire purchase contracts 61,061 34,153
344,829 59,153

Meel Group (Projects) Limited (Registered number: 00787449)
previously known as
G.R. Bayley (Electrical
Contractors) Ltd

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 117,801 48,599

Secure debts are secured against the assets that were purchased.

10. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £76,382 (2022 £20,182). This financial commitment represents the total amount of payments remaining on leases ending in 2025.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is MEEL Group Limited.