Company Registration No. 01585431 (England and Wales)
Meritplan Limited
Unaudited accounts
for the year ended 30 November 2024
Meritplan Limited
Unaudited accounts
Contents
Meritplan Limited
Statement of financial position
as at 30 November 2024
Tangible assets
61,809
63,195
Cash at bank and in hand
110,678
149,797
Creditors: amounts falling due within one year
(471,502)
(428,082)
Net current liabilities
(78,023)
(70,555)
Total assets less current liabilities
78,786
87,640
Provisions for liabilities
Deferred tax
(3,117)
(3,463)
Called up share capital
100
100
Profit and loss account
75,569
84,077
Shareholders' funds
75,669
84,177
For the year ending 30 November 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 24 February 2025 and were signed on its behalf by
Mahesh Vallabhbhai PATEL
Director
Company Registration No. 01585431
Meritplan Limited
Notes to the Accounts
for the year ended 30 November 2024
Meritplan Limited is a private company, limited by shares, registered in England and Wales, registration number 01585431. The registered office is 122 Charles Street, Leicester, LE1 1LB, United Kingdom.
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.
Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Fixtures & fittings
10% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Meritplan Limited
Notes to the Accounts
for the year ended 30 November 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 December 2023
49,342
107,645
156,987
At 30 November 2024
49,342
107,645
156,987
At 1 December 2023
-
93,792
93,792
Charge for the year
-
1,386
1,386
At 30 November 2024
-
95,178
95,178
At 30 November 2024
49,342
12,467
61,809
At 30 November 2023
49,342
13,853
63,195
5
Investments
Other investments
Valuation at 1 December 2023
95,000
Valuation at 30 November 2024
95,000
Amounts falling due within one year
Trade debtors
169,195
94,838
Other debtors
31,086
28,916
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
162,763
149,440
Taxes and social security
27,828
10,156
Other creditors
280,911
268,486
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Meritplan Limited
Notes to the Accounts
for the year ended 30 November 2024
9
Operating lease commitments
2024
2023
At 30 November 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,000
10,000
10
Average number of employees
During the year the average number of employees was 16 (2023: 17).