Meridian Swindon Ltd 12946196 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is freehold owner Digita Accounts Production Advanced 6.30.9574.0 true true 12946196 2023-01-01 2023-12-31 12946196 2023-12-31 12946196 bus:OrdinaryShareClass1 2023-12-31 12946196 core:CurrentFinancialInstruments 2023-12-31 12946196 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12946196 core:Goodwill 2023-12-31 12946196 core:FurnitureFittingsToolsEquipment 2023-12-31 12946196 core:LandBuildings 2023-12-31 12946196 bus:SmallEntities 2023-01-01 2023-12-31 12946196 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12946196 bus:FilletedAccounts 2023-01-01 2023-12-31 12946196 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12946196 bus:RegisteredOffice 2023-01-01 2023-12-31 12946196 bus:Director1 2023-01-01 2023-12-31 12946196 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12946196 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12946196 core:Goodwill 2023-01-01 2023-12-31 12946196 core:FurnitureFittings 2023-01-01 2023-12-31 12946196 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 12946196 core:LandBuildings 2023-01-01 2023-12-31 12946196 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-01 2023-12-31 12946196 core:ParentEntities 2023-01-01 2023-12-31 12946196 countries:EnglandWales 2023-01-01 2023-12-31 12946196 2022-12-31 12946196 core:Goodwill 2022-12-31 12946196 core:FurnitureFittingsToolsEquipment 2022-12-31 12946196 core:LandBuildings 2022-12-31 12946196 2022-01-01 2022-12-31 12946196 2022-12-31 12946196 bus:OrdinaryShareClass1 2022-12-31 12946196 core:CurrentFinancialInstruments 2022-12-31 12946196 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 12946196 core:Goodwill 2022-12-31 12946196 core:FurnitureFittingsToolsEquipment 2022-12-31 12946196 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12946196

Meridian Swindon Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Meridian Swindon Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Meridian Swindon Ltd

Company Information

Director

Mr Phatahchand Ghanshamdas Mulchandani

Registered office

18 Eley Road
Edmonton
London
N18 3BB

Accountants

Kajaine Accountants Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Meridian Swindon Ltd

(Registration number: 12946196)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

16,905

18,270

Tangible assets

5

4,223,784

4,559,888

 

4,240,689

4,578,158

Current assets

 

Debtors

6

22,000

28,483

Cash at bank and in hand

 

10

2,613

 

22,010

31,096

Creditors: Amounts falling due within one year

7

(4,982,257)

(5,039,903)

Net current liabilities

 

(4,960,247)

(5,008,807)

Net liabilities

 

(719,558)

(430,649)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(719,658)

(430,749)

Shareholders' deficit

 

(719,558)

(430,649)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 August 2024
 

.........................................
Mr Phatahchand Ghanshamdas Mulchandani
Director

 

Meridian Swindon Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Eley Road
Edmonton
London
N18 3BB
England

These financial statements were authorised for issue by the director on 31 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Meridian Swindon Ltd

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

Asset class

Depreciation method and rate

Fixture & Fittings

20% Straight Line

Freehold Property

2% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

6.5% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Meridian Swindon Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

21,000

21,000

At 31 December 2023

21,000

21,000

Amortisation

At 1 January 2023

2,730

2,730

Amortisation charge

1,365

1,365

At 31 December 2023

4,095

4,095

Carrying amount

At 31 December 2023

16,905

16,905

At 31 December 2022

18,270

18,270

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

3,066,901

1,981,315

5,048,216

At 31 December 2023

3,066,901

1,981,315

5,048,216

Depreciation

At 1 January 2023

111,284

377,044

488,328

Charge for the year

55,641

280,463

336,104

At 31 December 2023

166,925

657,507

824,432

Carrying amount

At 31 December 2023

2,899,976

1,323,808

4,223,784

At 31 December 2022

2,955,617

1,604,271

4,559,888

Included within the net book value of land and buildings above is £2,899,976 (2022 - £2,955,618) in respect of freehold land and buildings.
 

 

Meridian Swindon Ltd

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

6

Debtors

Current

2023
£

2022
£

Other debtors

22,000

28,483

 

22,000

28,483

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

110,944

111,070

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

2,446

2,446

Taxation and social security

 

8,335

-

Other creditors

 

4,829,525

4,895,380

Accrued expenses

 

850

850

Directors current account

 

30,157

30,157

 

4,982,257

5,039,903

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Meridian Swindon Ltd

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

9

Related party transactions

Summary of transactions with parent

Stanton House Holdings Ltd is the parent company and owns 100% of the share capital in the Company. At the
balance sheet date the amount owing to Highview Holding Ltd is £2,446 (2022: £2,446).

 

 

Summary of transactions with entities with joint control or significant interest

Meridian Swindon Ltd rents premises to a connected entity and charges an annual rent of £167,500
(2022: £167,500) which is charged at an arms length basis.

At the balance sheet date, the amount due to companies with the same ultimate beneficial owners of Meridian Swindon Ltd was £4,829,525 (2022: £4,895,380). These have been disclosed in other creditors.

At the balance sheet date, the amount due from companies with the same ultimate beneficial owners of Meridian Swindon Ltd was £22,000 (2022: £22,000). These have been disclosed in other debtors.