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Company Registration No. 12530324 (England and Wales)
Meadowgems Ltd Unaudited accounts for the year ended 31 March 2024
Meadowgems Ltd Unaudited accounts Contents
Page
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Meadowgems Ltd Company Information for the year ended 31 March 2024
Directors
S S Grout A M Moberg-Grout
Company Number
12530324 (England and Wales)
Registered Office
43 Gresley Close Welwyn Garden City Hertfordshire AL8 7QA ENGLAND
Accountants
Gain Accountancy Ltd The Orchard Mithian St Agnes Cornwall TR5 0QF
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Meadowgems Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,132 
1,036 
Current assets
Debtors
1,815 
9,753 
Cash at bank and in hand
36,461 
61,248 
38,276 
71,001 
Creditors: amounts falling due within one year
(9,960)
(20,902)
Net current assets
28,316 
50,099 
Total assets less current liabilities
29,448 
51,135 
Provisions for liabilities
Deferred tax
(215)
(197)
Net assets
29,233 
50,938 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
29,133 
50,838 
Shareholders' funds
29,233 
50,938 
For the year ending 31 March 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 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 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 of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by
S S Grout Director Company Registration No. 12530324
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Meadowgems Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Meadowgems Ltd is a private company, limited by shares, registered in England and Wales, registration number 12530324. The registered office is 43 Gresley Close, Welwyn Garden City, Hertfordshire, AL8 7QA, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 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:
Computer equipment
33% on reducing balance
Taxation
Taxation for the period 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted of substantively enacted by the balance sheet date. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Inventories & Work In Progress
Inventory have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage completion.
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Meadowgems Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
2,457 
Additions
653 
At 31 March 2024
3,110 
Depreciation
At 1 April 2023
1,421 
Charge for the year
557 
At 31 March 2024
1,978 
Net book value
At 31 March 2024
1,132 
At 31 March 2023
1,036 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
489 
- 
Trade debtors
1,200 
8,766 
Accrued income and prepayments
- 
861 
Other debtors
126 
126 
1,815 
9,753 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
2,635 
Taxes and social security
1,721 
10,392 
Other creditors
1,100 
- 
Loans from directors
5,574 
5,249 
Accruals
1,565 
2,626 
9,960 
20,902 
7
Average number of employees
During the year the average number of employees was 6 (2023: 2).
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