IRIS Accounts Production v24.2.0.383 08384732 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false 22104 29124 6966 7020 15138 22104 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh083847322023-02-28083847322024-02-29083847322023-03-012024-02-29083847322022-02-28083847322022-03-012023-02-28083847322023-02-2808384732ns15:EnglandWales2023-03-012024-02-2908384732ns14:PoundSterling2023-03-012024-02-2908384732ns10:Director12023-03-012024-02-2908384732ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2908384732ns10:SmallEntities2023-03-012024-02-2908384732ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2908384732ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2908384732ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2908384732ns10:AbridgedAccounts2023-03-012024-02-290838473212023-03-012024-02-290838473241ns10:Director12023-02-280838473241ns10:Director12022-02-280838473241ns10:Director12023-03-012024-02-290838473241ns10:Director12022-03-012023-02-280838473241ns10:Director12024-02-290838473241ns10:Director12023-02-2808384732ns10:Director22023-03-012024-02-2908384732ns10:RegisteredOffice2023-03-012024-02-2908384732ns5:CurrentFinancialInstruments2024-02-2908384732ns5:CurrentFinancialInstruments2023-02-2808384732ns5:Non-currentFinancialInstruments2024-02-2908384732ns5:Non-currentFinancialInstruments2023-02-2808384732ns5:ShareCapital2024-02-2908384732ns5:ShareCapital2023-02-2808384732ns5:RetainedEarningsAccumulatedLosses2024-02-2908384732ns5:RetainedEarningsAccumulatedLosses2023-02-2808384732ns5:NetGoodwill2023-03-012024-02-2908384732ns5:PlantMachinery2023-03-012024-02-2908384732ns10:Director222023-02-2808384732ns10:Director222022-02-2808384732ns10:Director222023-03-012024-02-2908384732ns10:Director222022-03-012023-02-2808384732ns10:Director222024-02-2908384732ns10:Director222023-02-28
REGISTERED NUMBER: 08384732 (England and Wales)


















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Meadowcroft Foodservice Limited

Meadowcroft Foodservice Limited (Registered number: 08384732)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Meadowcroft Foodservice Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mr W A Cousins
Mrs K J Cousins





REGISTERED OFFICE: Brigham House
93 High Street
Biggleswade
Bedfordshire
SG18 0LD





REGISTERED NUMBER: 08384732 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH

Meadowcroft Foodservice Limited (Registered number: 08384732)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,000 6,000
Tangible assets 5 10,347 13,639
15,347 19,639

CURRENT ASSETS
Stocks 23,170 21,728
Debtors 97,382 113,116
Cash at bank and in hand 6,227 17,149
126,779 151,993
CREDITORS
Amounts falling due within one year 108,161 106,550
NET CURRENT ASSETS 18,618 45,443
TOTAL ASSETS LESS CURRENT
LIABILITIES

33,965

65,082

CREDITORS
Amounts falling due after more than one
year

(14,057

)

(31,292

)

PROVISIONS FOR LIABILITIES (849 ) (1,230 )
NET ASSETS 19,059 32,560

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 19,057 32,558
SHAREHOLDERS' FUNDS 19,059 32,560

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.

Meadowcroft Foodservice Limited (Registered number: 08384732)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 July 2024 and were signed on its behalf by:





Mrs K J Cousins - Director


Meadowcroft Foodservice Limited (Registered number: 08384732)

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

1. STATEMENT OF COMPLIANCE

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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% 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.

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.

Meadowcroft Foodservice Limited (Registered number: 08384732)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023 4,000
Amortisation for year 1,000
At 29 February 2024 5,000
NET BOOK VALUE

At 29 February 2024 5,000
At 28 February 2023 6,000

Meadowcroft Foodservice Limited (Registered number: 08384732)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 33,130
Disposals (839 )
At 29 February 2024 32,291
DEPRECIATION
At 1 March 2023 19,491
Charge for year 2,847
Eliminated on disposal (394 )
At 29 February 2024 21,944
NET BOOK VALUE
At 29 February 2024 10,347
At 28 February 2023 13,639

6. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 28,369 35,265

These relate to the following leases over a period of 10 years ending on 31st July 2030 :

1) The renewal of the rental lease - £ 5,038 (2023 £35,265)
2) New Leases for office equipment - £ 23,331 (2023 £nil)

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr W A Cousins and Mrs K J Cousins
Balance outstanding at start of year 22,104 29,124
Amounts repaid (6,966 ) (7,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,138 22,104