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Registered number: 05390655

Meridian Electrical Contracting Limited

ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024

Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU

Meridian Electrical Contracting Limited

ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
DIRECTORS
Richard Wayles
Adrian Carl Flude
Joseph Luke Tarrant
REGISTERED OFFICE
47a Commercial Road
Ashley Cross
Poole
Dorset
BH14 0HU
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 05390655
ACCOUNTANTS
Willow Accounting & Consultancy
Chartered Certified Accountants
47a Commercial Road
Poole
Dorset
BH14 0HU

Meridian Electrical Contracting Limited

ACCOUNTS
FOR THEYEARENDED31 MARCH 2024
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Meridian Electrical Contracting Limited

BALANCE SHEET AT 31 March 2024
20242023
Notes££
FIXED ASSETS
Intangible assets213,60017,000
Tangible assets366,13589,000
79,735106,000
CURRENT ASSETS
Stock34,75616,376
Debtors51,611,1991,506,209
Cash at bank and in hand365,909472,839
2,011,8641,995,424
CREDITORS: Amounts falling due within one year6845,123905,752
NET CURRENT ASSETS1,166,7411,089,672
TOTAL ASSETS LESS CURRENT LIABILITIES1,246,4761,195,672
PROVISIONS FOR LIABILITIES AND CHARGES85,1137,643
NET ASSETS1,241,3631,188,029
CAPITAL AND RESERVES
Called up share capital933
Profit and loss account1,241,3601,188,026
SHAREHOLDERS' FUNDS1,241,3631,188,029
For the year ending 31 March 2024 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 18 June 2024 and signed on their behalf by
.............................
Richard Wayles
Director

Meridian Electrical Contracting Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Short Leasehold Propertiesreducing balance 20%
Plant and Machineryreducing balance 20%
Fixtures and Fittingsreducing balance 20%
Equipmentreducing balance 33%
Motor Carsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Goodwill
Goodwill arising in connection with the acquisition of the business has been capitalised. The directors believe that goodwill should be amortisted over 10 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the net carrying value may not be recoverable.

Meridian Electrical Contracting Limited

1f. Leasing Commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.
2. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 1 April 202334,00034,000
At 31 March 202434,00034,000
Depreciation
At 1 April 202317,00017,000
For the year3,4003,400
At 31 March 202420,40020,400
Net Book Amounts
At 31 March 202413,60013,600
At 31 March 202317,00017,000

Meridian Electrical Contracting Limited

3. TANGIBLE FIXED ASSETS
Short LeaseholdPlant andFixtures
PropertiesMachineryand FittingsEquipmentMotor CarsTotal
££££££
Cost
At 1 April 20239,2416,1205,54936,144241,234298,288
Additions---4,735-4,735
Disposals----(33,268)(33,268)
At 31 March 20249,2416,1205,54940,879207,966269,755
Depreciation
At 1 April 20238,2496,0145,39633,503156,126209,288
Disposals----(28,416)(28,416)
For the year19821312,43420,06422,748
At 31 March 20248,4476,0355,42735,937147,774203,620
Net Book Amounts
At 31 March 2024794851224,94260,19266,135
At 31 March 20239921061532,64185,10889,000
4. STOCK 20242023
££
Stock comprises:
Stock2,0002,000
Work in progress32,75614,376
34,75616,376
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors330,742139,601
VAT-7,357
Amounts due from group companies1,274,3841,346,384
Prepayments6,07312,867
1,611,1991,506,209

Meridian Electrical Contracting Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax154,272122,711
VAT50,216-
PAYE control21,11923,144
Directors current account998498
Bank loan (unsecured)-450,000
Credit card166,83824,737
Work in progress - accrued revenue135,27015,961
Trade creditors182,018135,539
Other creditors125,798125,798
Pension schemes1,4201,464
Accruals7,1745,900
845,123905,752
7. EMPLOYEES
20242023
No.No.
Average number of employees1011
8. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation5,1137,643
5,1137,643
9. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
200 Ordinary shares of £0.01 each22
100 Class B shares of £0.01 each11
33

Meridian Electrical Contracting Limited

10. OTHER FINANCIAL COMMITMENTS
At 31 March 2024 the company was committed to making the following payments under non-cancellable operating leases:
20242023
££
Operating Leases which expire:
Within one year2,1642,164
Within two to five years1,6233,787
11. CONTROLLING PARTY
The ultimate controlling party is Meridian Electrical Holdings Limited, a company whose registered office is 47a Commercial Road, Ashley Cross, Poole, Dorset.