Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31true2024-01-01falseNo description of principal activity99trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC207247 2024-01-01 2024-12-31 SC207247 2023-01-01 2023-12-31 SC207247 2024-12-31 SC207247 2023-12-31 SC207247 c:Director1 2024-01-01 2024-12-31 SC207247 c:Director2 2024-01-01 2024-12-31 SC207247 c:Director3 2024-01-01 2024-12-31 SC207247 c:RegisteredOffice 2024-01-01 2024-12-31 SC207247 d:Buildings 2024-01-01 2024-12-31 SC207247 d:Buildings 2024-12-31 SC207247 d:Buildings 2023-12-31 SC207247 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC207247 d:PlantMachinery 2024-01-01 2024-12-31 SC207247 d:PlantMachinery 2024-12-31 SC207247 d:PlantMachinery 2023-12-31 SC207247 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC207247 d:MotorVehicles 2024-01-01 2024-12-31 SC207247 d:MotorVehicles 2024-12-31 SC207247 d:MotorVehicles 2023-12-31 SC207247 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC207247 d:OfficeEquipment 2024-01-01 2024-12-31 SC207247 d:OfficeEquipment 2024-12-31 SC207247 d:OfficeEquipment 2023-12-31 SC207247 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC207247 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC207247 d:CurrentFinancialInstruments 2024-12-31 SC207247 d:CurrentFinancialInstruments 2023-12-31 SC207247 d:Non-currentFinancialInstruments 2024-12-31 SC207247 d:Non-currentFinancialInstruments 2023-12-31 SC207247 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC207247 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC207247 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 SC207247 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC207247 d:ShareCapital 2024-12-31 SC207247 d:ShareCapital 2023-12-31 SC207247 d:RevaluationReserve 2024-12-31 SC207247 d:RevaluationReserve 2023-12-31 SC207247 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC207247 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC207247 c:OrdinaryShareClass2 2024-01-01 2024-12-31 SC207247 c:OrdinaryShareClass2 2024-12-31 SC207247 c:OrdinaryShareClass2 2023-12-31 SC207247 c:OrdinaryShareClass3 2024-01-01 2024-12-31 SC207247 c:OrdinaryShareClass3 2024-12-31 SC207247 c:OrdinaryShareClass3 2023-12-31 SC207247 c:OrdinaryShareClass4 2024-01-01 2024-12-31 SC207247 c:OrdinaryShareClass4 2024-12-31 SC207247 c:OrdinaryShareClass4 2023-12-31 SC207247 c:FRS102 2024-01-01 2024-12-31 SC207247 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC207247 c:FullAccounts 2024-01-01 2024-12-31 SC207247 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC207247 5 2024-01-01 2024-12-31 SC207247 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC207247










MELDRUMS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
MELDRUMS LIMITED
 

COMPANY INFORMATION


Directors
K McConnell 
R McConnell 
S Kinghorn 




Registered number
SC207247



Registered office
Eden Valley Business Park

Cupar

Fife

KY15 4RB




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
MELDRUMS LIMITED
REGISTERED NUMBER:SC207247

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
333,553
326,836

  
333,553
326,836

Current assets
  

Stocks
  
273,591
287,348

Debtors: amounts falling due within one year
 5 
45,157
46,319

Cash at bank and in hand
  
33,554
93,541

  
352,302
427,208

Creditors: amounts falling due within one year
 6 
(170,609)
(213,560)

Net current assets
  
 
 
181,693
 
 
213,648

Total assets less current liabilities
  
515,246
540,484

Creditors: amounts falling due after more than one year
 7 
(97,455)
(114,704)

Provisions for liabilities
  

Deferred tax
  
(24,295)
(20,839)

  
 
 
(24,295)
 
 
(20,839)

Net assets
  
393,496
404,941


Capital and reserves
  

Called up share capital 
 8 
30,000
30,000

Revaluation reserve
  
178,215
180,103

Profit and loss account
  
185,281
194,838

  
393,496
404,941


Page 1

 
MELDRUMS LIMITED
REGISTERED NUMBER:SC207247

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

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 comprehensive income 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: 



K McConnell
R McConnell
Director
Director


Date: 30 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MELDRUMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is limited by shares and incorporated in Scotland. The address of the registered office is Eden Valley Business Park, Cupar, Fife, KY15 4RB.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from the provision of services is recognised on completion of the service.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
MELDRUMS LIMITED
 

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

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


Page 4

 
MELDRUMS LIMITED
 

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

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2.5% straight line
Plant and machinery
-
15% straight line
Motor vehicles
-
25% straight line
Office equipment
-
33.33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

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.

Page 5

 
MELDRUMS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 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.

 
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 9 (2023 - 9).

Page 6

 
MELDRUMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
302,792
80,385
83,174
26,464
492,815


Additions
-
17,400
27,767
481
45,648


Disposals
-
(12,900)
-
-
(12,900)



At 31 December 2024

302,792
84,885
110,941
26,945
525,563



Depreciation


At 1 January 2024
22,572
63,303
54,796
25,308
165,979


Charge for the year on owned assets
7,570
6,435
22,185
854
37,044


Disposals
-
(11,013)
-
-
(11,013)



At 31 December 2024

30,142
58,725
76,981
26,162
192,010



Net book value



At 31 December 2024
272,650
26,160
33,960
783
333,553



At 31 December 2023
280,220
17,082
28,378
1,156
326,836

The company's freehold property valuations were made by the directors', on an open market value for exisiting use basis. 

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
179,236
179,236

Accumulated depreciation
(94,014)
(88,402)

Net book value
85,222
90,834

Page 7

 
MELDRUMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
33,102
41,487

Other debtors
7,080
-

Prepayments and accrued income
4,975
4,832

45,157
46,319



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
21,242
21,242

Trade creditors
103,554
133,055

Other taxation and social security
14,560
37,326

Obligations under finance lease and hire purchase contracts
22,544
14,183

Other creditors
4,437
3,896

Accruals and deferred income
4,272
3,858

170,609
213,560


Secured Loans
Hire purchase liabilities falling due within one year are secured over the assets to which they relate.
Bank loans are secured by a standard charge over the property owned by the company.

Page 8

 
MELDRUMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
81,586
103,400

Net obligations under finance leases and hire purchase contracts
15,869
11,304

97,455
114,704


Secured Loans 
Hire purchase liabilities falling due after one year are secured over the assets to which they relate. 
Bank loans are secured by a standard charge over the property owned by the company.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 (2023 - 10,000) Ordinary A shares of £1.00 each
500
10,000
14,750 (2023 - 10,000) Ordinary B shares of £1.00 each
14,750
10,000
14,750 (2023 - 10,000) Ordinary C shares of £1.00 each
14,750
10,000

30,000

30,000

During the period, 9,500 ordinary A shares of £1.00 each were reclassifed as 4,750 ordinary B shares of £1.00 each and 4,750 ordinary C sharse of £1.00 each. 



Page 9