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REGISTERED NUMBER: 05489322 (England and Wales)















Meridian Retail Limited

Financial Statements for the Year Ended 31st July 2024






Meridian Retail Limited (Registered number: 05489322)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meridian Retail Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: Mrs J Lafford
S J Lafford
Mrs K A Taylor
D W Lafford





SECRETARY: Mrs K A Taylor





REGISTERED OFFICE: 2 Dollar Street
Cirencester
Gloucestershire
GL7 2AJ





REGISTERED NUMBER: 05489322 (England and Wales)





ACCOUNTANTS: PWB Accountancy Services Ltd
Chartered Certified Accountants
Waterloo House
18 The Waterloo
Cirencester
Gloucestershire
GL7 2PY

Meridian Retail Limited (Registered number: 05489322)

Balance Sheet
31st July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 204,000 238,000
Tangible assets 5 731,305 751,502
Investments 6 36,432 51,858
971,737 1,041,360

CURRENT ASSETS
Stocks 145,883 193,250
Debtors 7 132,309 110,573
Cash at bank and in hand 572,008 404,491
850,200 708,314
CREDITORS
Amounts falling due within one year 8 754,436 779,727
NET CURRENT ASSETS/(LIABILITIES) 95,764 (71,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,067,501

969,947

CREDITORS
Amounts falling due after more than one
year

9

150,340

179,538
NET ASSETS 917,161 790,409

CAPITAL AND RESERVES
Called up share capital 93 93
Retained earnings 917,068 790,316
SHAREHOLDERS' FUNDS 917,161 790,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Retail Limited (Registered number: 05489322)

Balance Sheet - continued
31st July 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 30th October 2024 and were signed on its behalf by:





S J Lafford - Director


Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Meridian Retail 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment costs, over their estimated useful lives.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Alterations to leasehold property - 4% on cost
Plant and equipment - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a money purchase 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 41 (2023 - 42 ) .

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

4. INTANGIBLE FIXED ASSETS
Leasehold
Goodwill premium Totals
£    £    £   
COST
At 1st August 2023
and 31st July 2024 850,000 70,000 920,000
AMORTISATION
At 1st August 2023 612,000 70,000 682,000
Amortisation for year 34,000 - 34,000
At 31st July 2024 646,000 70,000 716,000
NET BOOK VALUE
At 31st July 2024 204,000 - 204,000
At 31st July 2023 238,000 - 238,000

5. TANGIBLE FIXED ASSETS
Alterations
to
Freehold leasehold Plant and
property property equipment
£    £    £   
COST
At 1st August 2023 572,300 280,953 340,203
Additions - - 3,430
At 31st July 2024 572,300 280,953 343,633
DEPRECIATION
At 1st August 2023 - 168,570 289,843
Charge for year - 11,238 10,758
At 31st July 2024 - 179,808 300,601
NET BOOK VALUE
At 31st July 2024 572,300 101,145 43,032
At 31st July 2023 572,300 112,383 50,360

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st August 2023 71,986 3,400 8,505 1,277,347
Additions - 2,500 566 6,496
At 31st July 2024 71,986 5,900 9,071 1,283,843
DEPRECIATION
At 1st August 2023 58,697 1,966 6,769 525,845
Charge for year 2,657 983 1,057 26,693
At 31st July 2024 61,354 2,949 7,826 552,538
NET BOOK VALUE
At 31st July 2024 10,632 2,951 1,245 731,305
At 31st July 2023 13,289 1,434 1,736 751,502

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st August 2023 51,858
Disposals (15,426 )
At 31st July 2024 36,432
NET BOOK VALUE
At 31st July 2024 36,432
At 31st July 2023 51,858

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,852 49,129
Other debtors 77,457 61,444
132,309 110,573

Meridian Retail Limited (Registered number: 05489322)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,857 22,515
Trade creditors 482,999 549,291
Taxation and social security 232,145 198,864
Other creditors 13,435 9,057
754,436 779,727

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 150,340 179,538