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REGISTERED NUMBER: 10289009 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

BUILDING BLOQS AT MERIDIAN WORKS LIMITED

BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BUILDING BLOQS AT MERIDIAN WORKS LIMITED

Company Information
for the year ended 29 February 2024







Directors: Mr A S Nichols
Mr A E Parra-Mussell





Registered office: 2 Anthony Way
London
N18 3QT





Registered number: 10289009 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 131,642 19,382
Tangible assets 5 1,197,009 695,457
1,328,651 714,839

Current assets
Stocks 24,000 24,000
Debtors 6 60,383 313,013
Cash at bank and in hand 54,856 112,806
139,239 449,819
Creditors
Amounts falling due within one year 7 679,131 913,640
Net current liabilities (539,892 ) (463,821 )
Total assets less current liabilities 788,759 251,018

Creditors
Amounts falling due after more than one
year

8

(1,113,051

)

(411,778

)

Provisions for liabilities - (42,869 )
Net liabilities (324,292 ) (203,629 )

Reserves
Income and expenditure account (324,292 ) (203,629 )
(324,292 ) (203,629 )

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 surplus or deficit 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.

BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:




Mr A S Nichols - Director



Mr A E Parra-Mussell - Director


BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Building Bloqs at Meridian Works Limited is a private company, limited by guarantee , 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.

The Company's financial statements are prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of obligations in the normal course of business. In view of these matters, continuation as a going concern is dependent upon continued operations of the Company, which in turn is dependent upon the Company’s ability to, meets its financial requirements, raise additional funding, and the success of its future operations.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

During the year the accounting policy for amortisation on computer software was changed from 25% on cost to 10% on cost.
This was changed in order to provide a more accurate review of the net book value, and in order for the accounts to show a truer and fairer position. The adjustment required following this change has been recognised in the profit and loss through the depreciation nominal in the current year.

Tangible fixed assets
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

During the year the accounting policy for deprecation on plant and machinery was changed from 25% on cost to 10% on cost.
This was changed in order to provide a more accurate review of the net book value, and in order for the accounts to show a truer and fairer position. The adjustment required following this change has been recognised in the profit and loss through the depreciation nominal in the current year.

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

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 statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to surplus or deficit 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 20 (2023 - 20 ) .

4. Intangible fixed assets
Computer
software
£   
Cost
At 1 March 2023 99,961
Additions 82,122
At 29 February 2024 182,083
Amortisation
At 1 March 2023 80,579
Amortisation for year 18,209
Charge written back (48,347 )
At 29 February 2024 50,441
Net book value
At 29 February 2024 131,642
At 28 February 2023 19,382

BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


5. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 March 2023 763,415 925,528 1,688,943
Additions 94,509 18,087 112,596
At 29 February 2024 857,924 943,615 1,801,539
Depreciation
At 1 March 2023 558,547 434,939 993,486
Charge for year 85,792 94,362 180,154
Charge written back (308,146 ) (260,964 ) (569,110 )
At 29 February 2024 336,193 268,337 604,530
Net book value
At 29 February 2024 521,731 675,278 1,197,009
At 28 February 2023 204,868 490,589 695,457

6. Debtors
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 47,272 77,604
Other debtors 13,111 83,528
60,383 161,132

Amounts falling due after more than one year:
Other debtors - 151,881

Aggregate amounts 60,383 313,013

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 73,610 25,808
Trade creditors 240,349 433,574
Taxation and social security 90,840 60,031
Other creditors 274,332 394,227
679,131 913,640

Included within other creditors due within one year is deferred income recognised on non repayable grants of £162,720 (2023 - £268,091). The deferred grant income is recognised in the profit & loss as the asset is depreciated.

BUILDING BLOQS AT MERIDIAN WORKS LIMITED (REGISTERED NUMBER: 10289009)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 114,644 30,597
Other creditors 998,407 381,181
1,113,051 411,778

Included within other creditors due more than one year is deferred income recognised on non repayable grants of £886,410 (2023 - £269,184). The deferred grant income is recognised in the profit & loss as the asset is depreciated.

9. Directors' advances, credits and guarantees

Included within other creditors due after one year is an amount of £24,304 (2023 - £24,304) due to the director, Mr A S Nichols.

Included within other creditors due after one year is an amount of £48,954 (2023 - £48,954) due to the director, Mr A E Parra-Mussell