2023-06-012024-05-312024-05-31false13419359MEA (SOUTHERN) 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MEA (SOUTHERN) LTD

Registered Number
13419359
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

MEA (SOUTHERN) LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

HICKEY, Lauren Ellen

Registered Address

Mea Projects Unit 20 Fairway Business Centre
Airport Service Road
Portsmouth
PO3 5NU

Registered Number

13419359 (England and Wales)
MEA (SOUTHERN) LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets42,81056,161
42,81056,161
Current assets
Debtors406,363266,073
Cash at bank and on hand19,6002,907
425,963268,980
Creditors amounts falling due within one year3(413,050)(189,773)
Net current assets (liabilities)12,91379,207
Total assets less current liabilities55,723135,368
Creditors amounts falling due after one year4(13,565)(49,682)
Net assets42,15885,686
Capital and reserves
Called up share capital100100
Profit and loss account42,05885,586
Shareholders' funds42,15885,686
The financial statements were approved and authorised for issue by the Director on 20 February 2025, and are signed on its behalf by:
HICKEY, Lauren Ellen
Director
Registered Company No. 13419359
MEA (SOUTHERN) LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment20
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year53
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables387,488156,167
Bank borrowings and overdrafts476
Taxation and social security21,97633,530
Accrued liabilities and deferred income3,582-
Total413,050189,773
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,56549,682
Total13,56549,682