Company Registration No. 12530324 (England and Wales)
Meadowgems Ltd
Unaudited accounts
for the year ended 31 March 2024
Meadowgems Ltd
Unaudited accounts
Contents
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
Meadowgems Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
1,132
1,036
Cash at bank and in hand
36,461
61,248
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
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
Meadowgems Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
Meadowgems Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
-
861
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,721
10,392
Loans from directors
5,574
5,249
7
Average number of employees
During the year the average number of employees was 6 (2023: 2).