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REGISTERED NUMBER: 05231348 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Meridian Dry Lining Limited

Meridian Dry Lining Limited (Registered number: 05231348)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Meridian Dry Lining Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr T J Harding
Mr D J Necci





SECRETARY: Mr T J Harding





REGISTERED OFFICE: Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG





BUSINESS ADDRESS: 28 Lancet Lane
Loose
Maidstone
Kent
ME15 9RY





REGISTERED NUMBER: 05231348 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Bank Chambers
61 High Street
Cranbrook
Kent
TN17 3EG

Meridian Dry Lining Limited (Registered number: 05231348)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,771 37,256

CURRENT ASSETS
Stocks 3,025 3,583
Debtors 5 229,089 309,278
Cash at bank 204,656 218,881
436,770 531,742
CREDITORS
Amounts falling due within one year 6 181,826 191,814
NET CURRENT ASSETS 254,944 339,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

295,715

377,184

CREDITORS
Amounts falling due after more than
one year

7

(13,950

)

(24,111

)

PROVISIONS FOR LIABILITIES (7,746 ) (7,079 )
NET ASSETS 274,019 345,994

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 273,919 345,894
SHAREHOLDERS' FUNDS 274,019 345,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Dry Lining Limited (Registered number: 05231348)

Balance Sheet - continued
29 February 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 24 October 2024 and were signed on its behalf by:




Mr T J Harding - Director



Mr D J Necci - Director


Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Meridian Dry Lining 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools and equipment - 15% on reducing balance
Office equipment - 33% on cost
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution 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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Tools and Office Motor
equipment equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2023 19,639 5,119 172,496 197,254
Additions 1,145 566 11,110 12,821
Disposals - (608 ) - (608 )
At 29 February 2024 20,784 5,077 183,606 209,467
DEPRECIATION
At 1 March 2023 12,559 3,513 143,926 159,998
Charge for year 1,063 480 7,374 8,917
Eliminated on disposal - (219 ) - (219 )
At 29 February 2024 13,622 3,774 151,300 168,696
NET BOOK VALUE
At 29 February 2024 7,162 1,303 32,306 40,771
At 28 February 2023 7,080 1,606 28,570 37,256

Meridian Dry Lining Limited (Registered number: 05231348)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 183,960 263,696
Other debtors 45,129 45,582
229,089 309,278

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 42,038 54,585
Trade creditors 120,071 105,861
Taxation and social security 16,147 28,008
Other creditors 3,570 3,360
181,826 191,814

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 13,950 24,111

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank overdrafts 31,876 44,674

The overdraft facility is secured by way of a mortgage debenture given by the company and a personal guarantee of £32,000 provided by the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100