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REGISTERED NUMBER: 03515265 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Meridian Productivity Limited

Meridian Productivity Limited (Registered number: 03515265)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meridian Productivity Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: P Austad
K Barfelt





REGISTERED OFFICE: Daws House
33-35 Daws Lane
London
NW7 4SD





REGISTERED NUMBER: 03515265 (England and Wales)





ACCOUNTANTS: Jeffrey Crawford & Co
Chartered Accountants
25 Castle Terrace
Edinburgh
EH1 2ER

Meridian Productivity Limited (Registered number: 03515265)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,634 9,405

CURRENT ASSETS
Debtors 5 16,955 64,382
Cash at bank 27,393 46,606
44,348 110,988
CREDITORS
Amounts falling due within one year 6 103,099 69,727
NET CURRENT (LIABILITIES)/ASSETS (58,751 ) 41,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

(51,117

)

50,666

CREDITORS
Amounts falling due after more than one
year

7

20,000

30,000
NET (LIABILITIES)/ASSETS (71,117 ) 20,666

CAPITAL AND RESERVES
Called up share capital 13,333 13,333
Retained earnings (84,450 ) 7,333
SHAREHOLDERS' FUNDS (71,117 ) 20,666

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Meridian Productivity Limited (Registered number: 03515265)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





P Austad - Director


Meridian Productivity Limited (Registered number: 03515265)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Meridian Productivity 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.

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.

Going concern
The company made a loss of £91,783 for the year (2023: profit of £7,333) and had year end net current liabilities of £58,751 (2023:net current assets of £41,261). Net liabilities at the balance sheet date were £71,117 [2023: Net assets £20,666]. In January 2024 the company was acquired by a new parent undertaking and under new management.

The company is dependent upon the future financial support of the directors and parent undertaking. The directors believe that there are adequate resources available and the company therefore continues to adopt the going concern basis in preparing its financial statements.

The financial statements do not include any adjustments that would be required if the company was unable to continue as a going concern.

Significant judgements and estimates
Preparing the financial statements may require the director to make significant judgements and estimates. There were no items in the financial statements where these judgements and estimates were required.

Turnover
Turnover consists of the sales value, excluding VAT, of work in the period falling within the company's ordinary activities to supply services to third parties.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable
that future economic benefits will flow to the entity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance and 20% on cost
Computer equipment - 25% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, directors loan and bank loan.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.


Meridian Productivity Limited (Registered number: 03515265)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 8 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 18,387 55,635 74,022
Additions - 1,077 1,077
Disposals (1,035 ) (2,670 ) (3,705 )
At 29 February 2024 17,352 54,042 71,394
DEPRECIATION
At 1 March 2023 18,328 46,289 64,617
Charge for year 59 2,400 2,459
Eliminated on disposal (1,035 ) (2,281 ) (3,316 )
At 29 February 2024 17,352 46,408 63,760
NET BOOK VALUE
At 29 February 2024 - 7,634 7,634
At 28 February 2023 59 9,346 9,405

Meridian Productivity Limited (Registered number: 03515265)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 54,400
Other debtors 16,955 9,982
16,955 64,382

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 17,793 14,536
Taxation and social security 4,678 23,987
Other creditors 70,628 21,204
103,099 69,727

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,000 30,000