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Company registration number: 12752272







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


MERANTI LIMITED






































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MERANTI LIMITED
 


 
COMPANY INFORMATION


Directors
Mr R I Watson 
Mrs K Watson 




Registered number
12752272



Registered office
3000A Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


MERANTI LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6


 


MERANTI LIMITED
REGISTERED NUMBER:12752272



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
15
15

  
15
15

Current assets
  

Stocks
  
732
-

Debtors: amounts falling due within one year
 5 
395
115

Cash at bank and in hand
  
36,063
22,652

  
37,190
22,767

Creditors: amounts falling due within one year
 6 
(349,009)
(256,389)

Net current liabilities
  
 
 
(311,819)
 
 
(233,622)

Total assets less current liabilities
  
(311,804)
(233,607)

  

Net liabilities
  
(311,804)
(233,607)

Page 1

 


MERANTI LIMITED
REGISTERED NUMBER:12752272


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(311,805)
(233,608)

  
(311,804)
(233,607)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Mr R I Watson
Director

Date: 28 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


MERANTI LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Meranti Limited is a private company limited by shares and registered in England and Wales. The situation of the company's registered office can be found on the Company Information page. 
The company's trading address is Eastlands Shipyard, Coal Park Lane, Swanwick, Southampton, Hampshire, SO31 7GW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the period end date the company's liabilities exceed its assets. As a result the company is reliant on the support provided to it by the director and the entity in which it holds a participating interest. The director has pledged his own support to the company and amounts due to the participating interest are not due immediately.
As a result the director considers that the company is capable of settling its liabilities as they fall due and therefore deems it appropriate to continue to prepare the the accounts on a going concern basis.

 
2.3

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 


MERANTI LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 


MERANTI LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2)


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
15



At 31 March 2024
15




Page 5

 


MERANTI LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
395
115

395
115



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to other participating interests
346,615
254,215

Other creditors
1,349
1,349

Accruals and deferred income
1,045
825

349,009
256,389



7.


Related party transactions

At the year end, included within creditors falling due under one year were amounts due to a company in which this entity holds a participating interest in amounting to £346,615 (2023 - £254,215).
Also included within creditors falling due under one year were amounts due to a director amounting to £1,349 (2023 - £1,349).

Page 6