2
01/08/2023
31/07/2024
2024-07-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
false
false
2023-08-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
04426168
2023-08-01
2024-07-31
04426168
2024-07-31
04426168
2023-07-31
04426168
2022-08-01
2023-07-31
04426168
2023-07-31
04426168
2022-07-31
04426168
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-01
2024-07-31
04426168
core:PlantMachinery
2023-08-01
2024-07-31
04426168
core:NetGoodwill
2023-08-01
2024-07-31
04426168
bus:RegisteredOffice
2023-08-01
2024-07-31
04426168
bus:LeadAgentIfApplicable
2023-08-01
2024-07-31
04426168
bus:Director1
2023-08-01
2024-07-31
04426168
bus:Director3
2023-08-01
2024-07-31
04426168
core:NetGoodwill
2024-07-31
04426168
core:LandBuildings
core:ShortLeaseholdAssets
2023-07-31
04426168
core:FurnitureFittingsToolsEquipment
2023-07-31
04426168
core:WithinOneYear
2024-07-31
04426168
core:WithinOneYear
2023-07-31
04426168
core:AfterOneYear
2024-07-31
04426168
core:AfterOneYear
2023-07-31
04426168
core:LandBuildings
core:ShortLeaseholdAssets
2023-08-01
2024-07-31
04426168
core:FurnitureFittingsToolsEquipment
2023-08-01
2024-07-31
04426168
core:ShareCapital
2024-07-31
04426168
core:ShareCapital
2023-07-31
04426168
core:RetainedEarningsAccumulatedLosses
2024-07-31
04426168
core:RetainedEarningsAccumulatedLosses
2023-07-31
04426168
core:NetGoodwill
2023-07-31
04426168
core:LandBuildings
core:ShortLeaseholdAssets
2023-07-31
04426168
core:FurnitureFittingsToolsEquipment
2023-07-31
04426168
bus:SmallEntities
2023-08-01
2024-07-31
04426168
bus:AuditExemptWithAccountantsReport
2023-08-01
2024-07-31
04426168
bus:SmallCompaniesRegimeForAccounts
2023-08-01
2024-07-31
04426168
bus:PrivateLimitedCompanyLtd
2023-08-01
2024-07-31
04426168
bus:FullAccounts
2023-08-01
2024-07-31
04426168
1
2023-08-01
2024-07-31
Company registration number:
04426168
Meridian Insurance Advisors Limited
Unaudited filleted financial statements
31 July 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Meridian Insurance Advisors Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Meridian Insurance Advisors Limited
Directors and other information
|
|
|
|
Directors |
D S Archbold |
|
|
T L Frain |
|
|
|
|
|
|
|
Company number |
04426168 |
|
|
|
|
|
|
|
Registered office |
17 Central Buildings |
|
|
Market Place |
|
|
Thirsk |
|
|
North Yorkshire |
|
|
YO7 1HD |
|
|
|
|
|
|
|
Accountants |
The Barker Partnership |
|
|
17 Central Buildings |
|
|
Market Place |
|
|
Thirsk |
|
|
North Yorkshire |
|
|
YO7 1HD |
|
|
|
Meridian Insurance Advisors Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Meridian Insurance Advisors Limited
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meridian Insurance Advisors Limited for the year ended 31 July 2024 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Meridian Insurance Advisors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Meridian Insurance Advisors Limited and state those matters that we have agreed to state to the board of directors of Meridian Insurance Advisors Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meridian Insurance Advisors Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Meridian Insurance Advisors Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Meridian Insurance Advisors Limited. You consider that Meridian Insurance Advisors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Meridian Insurance Advisors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
25 April 2025
Meridian Insurance Advisors Limited
Balance sheet
31 July 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
- |
|
|
|
1,347 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
- |
|
|
|
1,347 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
11,175 |
|
|
|
23,895 |
|
|
Cash at bank and in hand |
|
|
5 |
|
|
|
2,787 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
11,180 |
|
|
|
26,682 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
6,732) |
|
|
|
(
13,261) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
4,448 |
|
|
|
13,421 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
4,448 |
|
|
|
14,768 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
902) |
|
|
|
(
23,489) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets/(liabilities) |
|
|
|
|
3,546 |
|
|
|
(
8,721) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
5 |
|
|
|
5 |
Profit and loss account |
|
|
|
|
3,541 |
|
|
|
(
8,726) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds/(deficit) |
|
|
|
|
3,546 |
|
|
|
(
8,721) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
25 April 2025
, and are signed on behalf of the board by:
D S Archbold
Director
Company registration number:
04426168
Meridian Insurance Advisors Limited
Notes to the financial statements
Year ended 31 July 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD. The principal activity of the company is the provision of insurance services.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
Goodwill |
- |
Straight line over 10 years |
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Property improvements |
- |
10 % |
straight line |
|
Fixtures & fittings |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Intangible assets
|
|
Goodwill |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 August 2023 and 31 July 2024 |
32,000 |
32,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 August 2023 and 31 July 2024 |
32,000 |
32,000 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 July 2024 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Short leasehold property |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 August 2023 |
1,695 |
18,484 |
20,179 |
|
|
|
|
|
Disposals |
(
1,695) |
(
18,484) |
(
20,179) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 August 2023 |
1,489 |
17,343 |
18,832 |
|
|
|
|
|
Charge for the year |
103 |
365 |
468 |
|
|
|
|
|
Disposals |
(
1,592) |
(
17,708) |
(
19,300) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2024 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 July 2024 |
- |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 July 2023 |
206 |
1,141 |
1,347 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other debtors |
|
11,175 |
23,895 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
3,234 |
6,065 |
|
Trade creditors |
|
1,750 |
3,229 |
|
Corporation tax |
|
- |
987 |
|
Social security and other taxes |
|
- |
766 |
|
Other creditors |
|
1,748 |
2,214 |
|
|
|
_______ |
_______ |
|
|
|
6,732 |
13,261 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Other creditors |
|
902 |
23,489 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Related party transactions
At the year end, an amount of £7,595 (2023: £8,113) was due from
D S Archbold
in respect of his director's current account.
11.
Controlling party
Throughout the year the company was under the control of Mr D Archbold, who is the majority shareholder of the company.