FIRST MEDITATION ENTERPRISE LIMITED

Company Registration Number:
04717906 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 31 March 2023

End date: 31 March 2024

FIRST MEDITATION ENTERPRISE LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

FIRST MEDITATION ENTERPRISE LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 0 3,500
Tangible assets: 4 80,126 100,706
Total fixed assets: 80,126 104,206
Current assets
Debtors: 5 135,395 126,672
Cash at bank and in hand: 80,842 158,126
Total current assets: 216,237 284,798
Creditors: amounts falling due within one year: 6 (71,875) (143,778)
Net current assets (liabilities): 144,362 141,020
Total assets less current liabilities: 224,488 245,226
Creditors: amounts falling due after more than one year: 7 (54,274) (53,355)
Total net assets (liabilities): 170,214 191,871
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 170,114 191,771
Shareholders funds: 170,214 191,871

The notes form part of these financial statements

FIRST MEDITATION ENTERPRISE LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 March 2025
and signed on behalf of the board by:

Name: F Kuti
Status: Director

The notes form part of these financial statements

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 policy

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Plant and machinery - 20% Fixtures, fittings and equipment - 20%

Intangible fixed assets and amortisation policy

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Other accounting policies

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 27 25

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 31 March 2023 35,000
At 31 March 2024 35,000
Amortisation
At 31 March 2023 31,500
Charge for year 3,500
At 31 March 2024 35,000
Net book value
At 31 March 2024 0
At 30 March 2023 3,500

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 31 March 2023 127,644
Additions 3,931
At 31 March 2024 131,575
Depreciation
At 31 March 2023 26,938
Charge for year 24,511
At 31 March 2024 51,449
Net book value
At 31 March 2024 80,126
At 30 March 2023 100,706

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

Bank loans & overdrafts - 10,000 Obligations under finance lease and HP contracts - 12,759 Taxation and social security costs - 36,516 Other creditors - 12,600 TOTAL - 71,875

FIRST MEDITATION ENTERPRISE LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due after more than one year note

Bank loans - 18,125 Obligations under finance lease and HP contracts - 36,149 TOTAL - 54,274