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
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
Mepham & Wood Limited
Statement of financial position
as at 31 March 2024
Tangible assets
57,878
70,127
Cash at bank and in hand
17,300
71,217
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)
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
Mepham & Wood Limited
Notes to the Accounts
for the period from 1 November 2022 to 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
Mepham & Wood Limited
Notes to the Accounts
for the period from 1 November 2022 to 31 March 2024
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.
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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
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
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
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
6
Creditors: amounts falling due within one year
2024
2022
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
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
8
Average number of employees
During the period the average number of employees was 2 (2022: 1).