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Registered number: 12417848
Meridian Contractors Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2025
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 12417848
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,405 14,229
8,405 14,229
CURRENT ASSETS
Debtors 5 31,103 49,877
Cash at bank and in hand 2 16,430
31,105 66,307
Creditors: Amounts Falling Due Within One Year 6 (19,817 ) (39,836 )
NET CURRENT ASSETS (LIABILITIES) 11,288 26,471
TOTAL ASSETS LESS CURRENT LIABILITIES 19,693 40,700
Creditors: Amounts Falling Due After More Than One Year 7 (21,357 ) (25,748 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (1,691 ) (2,815 )
NET (LIABILITIES)/ASSETS (3,355 ) 12,137
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (3,357 ) 12,135
SHAREHOLDERS' FUNDS (3,355) 12,137
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nathan Joce
Director
4 March 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 February 2023 1 26,853 26,854
Profit for the year and total comprehensive income - 28,482 28,482
Dividends paid - (43,200) (43,200)
Arising on shares issued during the period 1 - 1
As at 31 January 2024 and 1 February 2024 2 12,135 12,137
Loss for the year and total comprehensive income - (15,492 ) (15,492)
As at 31 January 2025 2 (3,357 ) (3,355)
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Meridian Contractors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12417848 . The registered office is Canada House, First Floor, 20/20 Business Park, Maidstone, Kent, ME16 0LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.The director has pledged his continued financial support.
2.3. Turnover
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2024 2,496 18,500 1,184 22,180
Additions - 4,900 - 4,900
Disposals - (15,000 ) - (15,000 )
As at 31 January 2025 2,496 8,400 1,184 12,080
Depreciation
As at 1 February 2024 541 7,145 265 7,951
Provided during the period 499 1,609 394 2,502
Disposals - (6,778 ) - (6,778 )
As at 31 January 2025 1,040 1,976 659 3,675
Net Book Value
As at 31 January 2025 1,456 6,424 525 8,405
As at 1 February 2024 1,955 11,355 919 14,229
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 1,319 26,228
Prepayments and accrued income 1,970 1,719
Other debtors - 16,000
VAT 209 799
Other taxes and social security 2,897 5,131
Director's loan account 18,473 -
24,868 49,877
Due after more than one year
Corporation tax recoverable assets 6,235 -
31,103 49,877
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 2,215 17,918
Bank loans and overdrafts 6,962 4,378
Corporation tax 10,591 6,685
Other creditors 49 169
Accruals and deferred income - 10,623
Director's loan account - 63
19,817 39,836
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 21,357 25,748
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 1,691 2,815
9. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary A shares of £ 1.000 each 1 1
1 Ordinary B shares of £ 1.000 each 1 1
2 2
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans due from directors:
As at 1 February 2024 Amounts advanced Amounts repaid Amounts written off As at 31 January 2025
£ £ £ £ £
Mr Nathan Joce 63 29,148 10,612 - (18,473 )
The above loan is unsecured, repayable on demand and interest is charged at the HMRC approved rate.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr N Joce by virtue of his ownership of 100% of the voting share capital in the company.
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