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Company Registration No. 09263029 (England and Wales)
Mepham & Wood Limited Unaudited accounts for the period from 1 November 2022 to 31 March 2024
Mepham & Wood Limited Unaudited accounts Contents
Page
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Mepham & Wood Limited Company Information for the period from 1 November 2022 to 31 March 2024
Directors
Gareth Mepham Toby Wood
Company Number
09263029 (England and Wales)
Registered Office
133 Barnhorn Road Bexhill-on-Sea East Sussex TN39 4QL England
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Mepham & Wood Limited Statement of financial position as at 31 March 2024
2024 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
57,878 
70,127 
Current assets
Inventories
89,440 
89,440 
Debtors
20,487 
14,886 
Cash at bank and in hand
17,300 
71,217 
127,227 
175,543 
Creditors: amounts falling due within one year
(163,643)
(202,319)
Net current liabilities
(36,416)
(26,776)
Total assets less current liabilities
21,462 
43,351 
Creditors: amounts falling due after more than one year
(16,861)
(31,566)
Provisions for liabilities
Other provisions
(3,460)
(3,460)
Net assets
1,141 
8,325 
Capital and reserves
Called up share capital
160 
160 
Profit and loss account
981 
8,165 
Shareholders' funds
1,141 
8,325 
For the period ending 31 March 2024 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2024 and were signed on its behalf by
Gareth Mepham Director Company Registration No. 09263029
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Mepham & Wood Limited Notes to the Accounts for the period from 1 November 2022 to 31 March 2024
1
Statutory information
Mepham & Wood Limited is a private company, limited by shares, registered in England and Wales, registration number 09263029. The registered office is 133 Barnhorn Road, Bexhill-on-Sea, East Sussex, TN39 4QL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Mepham & Wood Limited Notes to the Accounts for the period from 1 November 2022 to 31 March 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 November 2022
12,069 
97,970 
2,165 
4,564 
116,768 
Additions
4,246 
- 
1,659 
- 
5,905 
At 31 March 2024
16,315 
97,970 
3,824 
4,564 
122,673 
Depreciation
At 1 November 2022
6,938 
36,011 
766 
2,926 
46,641 
Charge for the period
1,407 
15,490 
765 
492 
18,154 
At 31 March 2024
8,345 
51,501 
1,531 
3,418 
64,795 
Net book value
At 31 March 2024
7,970 
46,469 
2,293 
1,146 
57,878 
At 31 October 2022
5,131 
61,959 
1,399 
1,638 
70,127 
5
Debtors
2024 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,802 
14,836 
Amounts due from group undertakings etc.
12,685 
- 
Accrued income and prepayments
- 
50 
Other debtors
1,000 
- 
20,487 
14,886 
6
Creditors: amounts falling due within one year
2024 
2022 
£ 
£ 
VAT
30,510 
51,683 
Obligations under finance leases and hire purchase contracts
13,270 
12,005 
Trade creditors
5,999 
40,562 
Taxes and social security
42,306 
22,401 
Other creditors
20,054 
12,594 
Loans from directors
50,754 
61,724 
Accruals
750 
1,350 
163,643 
202,319 
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Mepham & Wood Limited Notes to the Accounts for the period from 1 November 2022 to 31 March 2024
7
Creditors: amounts falling due after more than one year
2024 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
10,261 
31,566 
Other creditors
6,600 
- 
16,861 
31,566 
8
Average number of employees
During the period the average number of employees was 2 (2022: 1).
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