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Registration number: 04153029

Meedhurst Project Management Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Meedhurst Project Management Limited

(Registration number: 04153029)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

61,955

75,011

Current assets

 

Debtors

5

1,002,545

1,189,601

Cash at bank and in hand

 

2,048,560

2,374,552

 

3,051,105

3,564,153

Creditors: Amounts falling due within one year

6

(248,326)

(355,976)

Net current assets

 

2,802,779

3,208,177

Net assets

 

2,864,734

3,283,188

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,864,634

3,283,088

Shareholders' funds

 

2,864,734

3,283,188

 

Meedhurst Project Management Limited

(Registration number: 04153029)
Statement of Financial Position as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income and Expenditure Statement has been taken.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr D E Goddard
Director

 

Meedhurst Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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: Sterling House, High Street, Ascot, Berkshire, SL5 7HG. England.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

Asset class

Depreciation method and rate

Fixtures and fittings

15-25% on the reducing balance

Motor vehicles

20% on the reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

 

Meedhurst Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Meedhurst Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 12).

 

Meedhurst Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

76,089

63,897

139,986

Additions

1,159

-

1,159

At 31 March 2024

77,248

63,897

141,145

Depreciation

At 1 April 2023

52,193

12,782

64,975

Charge for the year

3,991

10,224

14,215

At 31 March 2024

56,184

23,006

79,190

Carrying amount

At 31 March 2024

21,064

40,891

61,955

At 31 March 2023

23,896

51,115

75,011

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

363,389

388,994

Amounts owed by related parties

7

587,433

705,508

Prepayments

 

32,587

37,212

Other debtors

 

19,136

57,887

   

1,002,545

1,189,601

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

17,729

27,721

Taxation and social security

94,283

102,101

Accruals and deferred income

30,181

38,222

Other creditors

106,133

187,932

248,326

355,976

 

Meedhurst Project Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Related party transactions

Loans to related parties

 

Terms of loans to related parties

At the year end the company is due £587,433 (2023: £633,378) from assoicated companies under the control of a director.