Registered number
12829787
Meadowgrove Ltd
Unaudited Filleted Accounts
30 June 2024
Smithfield Accountants LLP
Chartered Accountants
Suite 1, Unit 2, Stantsted Courtyard
Parsonage Road, Takeley, Essex, CM22 6PU
Meadowgrove Ltd
Registered number: 12829787
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 388,202 200,253
Current assets
Debtors 4 2,029 1,075
Cash at bank and in hand 1,440 20,708
3,469 21,783
Creditors: amounts falling due within one year 5 (4,751) (5,204)
Net current (liabilities)/assets (1,282) 16,579
Total assets less current liabilities 386,920 216,832
Creditors: amounts falling due after more than one year 6 (367,613) (194,900)
Provisions for liabilities (2,344) (2,344)
Net assets 16,963 19,588
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,863 19,488
Shareholders' funds 16,963 19,588
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Sofaer
Director
Approved by the board on 11 November 2024
Meadowgrove Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Held at fair value, not depreciated
Plant and machinery Written down value at 20%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 200,000 395 - 200,395
Additions 188,000 - - 188,000
Surplus on revaluation - - - -
Disposals - - - -
At 30 June 2024 388,000 395 - 388,395
Depreciation
At 1 July 2023 - 142 - 142
Charge for the year - 51 - 51
Surplus on revaluation - - - -
On disposals - - - -
At 30 June 2024 - 193 - 193
Net book value
At 30 June 2024 388,000 202 - 388,202
At 30 June 2023 200,000 253 - 200,253
Freehold land and buildings: 2024 2023
£ £
Historical cost 187,663 187,663
Cumulative depreciation based on historical cost - -
187,663 187,663
The directors annually consider the need to revalue the properties.

The company has purchased one property, which was originally held at its purchase price, plus enhancement expediture. The fair value of the property was not thought to be significantly different from this purchase price.

At the current year end, the fair value of the property was thought to have significantly increased, and the property has therefore been revalued to reflect market value. The directors performed this valuation.
4 Debtors 2024 2023
£ £
Other debtors 2,029 1,075
2,029 1,075
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 897 850
Taxation and social security costs 75 2,490
Other creditors 3,779 1,864
4,751 5,204
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 125,100 -
Director's current account (see note 7) 242,513 194,900
367,613 194,900
The director's loan is interest free and there is no fixed repayment date. The effects of discounting are immaterial to the accounts.
The bank loan is interest only and falls due for payment in full in November 2048.
7 Related party transactions
M Sofaer
Director and Shareholder
The director has loaned funds to the company. The loan is interest free and there is no fixed repayment date. The director has provided security for the bank loan (note 6).
Miss N Warden-Rogers
Director
The director has loaned funds to the company. The loan is interest free and there is no fixed repayment date. The director has provided security for the bank loan (note 6).
8 Controlling party
The company is controlled by M Sofaer, who owns 100% of the share capital.
9 Presentation currency
The accounts are presented in British Pounds Sterling.
10 Other information
Meadowgrove Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1, Unit 2
Stansted Courtyard, Parsonage Road
Takeley
Essex
CM22 6PU
11 Going concern
The company has borrowed funds from one of its directors in order to purchase a property and is dependent on this support. The company is already trading profitably and there is no reason to believe that support will be withdrawn. There is therefore no threat to going concern.
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