Company Registration No. 09458292 (England and Wales)
ME RETAIL SUPPLIES LIMITED
Unaudited accounts
for the year ended 31 January 2024
ME RETAIL SUPPLIES LIMITED
Unaudited accounts
Contents
ME RETAIL SUPPLIES LIMITED
Statement of financial position
as at 31 January 2024
Tangible assets
349,302
391,881
Inventories
211,469
197,352
Cash at bank and in hand
13,820
17,384
Creditors: amounts falling due within one year
(188,585)
(195,555)
Net current assets
462,312
456,489
Total assets less current liabilities
811,614
848,370
Creditors: amounts falling due after more than one year
(391,905)
(471,966)
Provisions for liabilities
Net assets
417,775
376,404
Called up share capital
1
1
Share premium
260,000
260,000
Profit and loss account
157,774
116,403
Shareholders' funds
417,775
376,404
For the year ending 31 January 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 director acknowledges his 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 and authorised for issue on 30 October 2024 and were signed on its behalf by
Rabih Boutros Beaini
Director
Company Registration No. 09458292
ME RETAIL SUPPLIES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
ME RETAIL SUPPLIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09458292. The registered office is 348 - 354 KENSINGTON HIGH STREET, LONDON, W14 8NS, 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 year, 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.
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
10.00% on straight line basis
Motor vehicles
12.50% on straight line basis
Fixtures & fittings
Over 20 Years
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
170,699
13,990
673,221
857,910
At 31 January 2024
170,699
13,990
673,221
857,910
At 1 February 2023
115,765
9,684
340,580
466,029
Charge for the year
17,070
1,749
23,760
42,579
At 31 January 2024
132,835
11,433
364,340
508,608
At 31 January 2024
37,864
2,557
308,881
349,302
At 31 January 2023
54,934
4,306
332,641
391,881
ME RETAIL SUPPLIES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
38,654
49,140
Accrued income and prepayments
29,138
24,331
Other debtors
260,000
260,000
Amounts falling due after more than one year
Amounts due from group undertakings etc.
86,966
85,000
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
83,782
96,346
Trade creditors
97,033
93,056
Taxes and social security
7,770
6,153
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
238,421
260,732
Loans from directors
153,484
211,234
8
Operating lease commitments
2024
2023
At 31 January 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,470
4,773
9
Transactions with related parties
During the year, the company provided a loan to the following related parties:
At the year end, the company was owed £86,966 by ME Wholesale Supplies Ltd, a company in which Director Rabih Beaini has a significant controlling interest.
10
Average number of employees
During the year the average number of employees was 33 (2023: 36).