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REGISTERED NUMBER: 04548492 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MEISTER LIMITED

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MEISTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr G C Barlow





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 04548492 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 4,536,841 3,987,788

CURRENT ASSETS
Stocks 5 1,280,564 1,450,433
Debtors 6 133,736 232,464
Cash at bank and in hand 462,295 617,954
1,876,595 2,300,851
CREDITORS
Amounts falling due within one year 7 1,059,548 1,106,691
NET CURRENT ASSETS 817,047 1,194,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,353,888

5,181,948

CREDITORS
Amounts falling due after more than one year 8 (2,117,534 ) (2,020,938 )

PROVISIONS FOR LIABILITIES 11 (499,489 ) (338,023 )
NET ASSETS 2,736,865 2,822,987

CAPITAL AND RESERVES
Called up share capital 12 100 100
Non distributable reserves 1,490,006 1,490,006
Retained earnings 1,246,759 1,332,881
SHAREHOLDERS' FUNDS 2,736,865 2,822,987

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2025 and were signed by:





Mr G C Barlow - Director


MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Meister Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The principal estimates and judgements made by the director are : -

1. Valuation of stocks

The company values stock at the lower of cost and net realisable value. The net realisable value is based on the market value of each vehicle and the directors knowledge of the market.

Costs include the acquisition cost for each vehicle as well as reconstruction costs to bring each vehicle into a saleable condition.

In applying the company's accounting policy for the valuation of stock, the director is required to assess the expected selling price less costs to sell of each vehicle in stock at the year end. Estimation of selling price is subject to significant inherent uncertainties, in particular the prediction of future trends in the market value of motor vehicles. Whilst the director exercises due care and attention to make reasonable estimates, the estimates will in all likelihood differ from the actual outcome in future periods, and these differences may be material.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - NIL
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 45 ) .

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Cost or valuation
At 1 January 2024 3,018,388 1,207,598 50,030
Additions 256,629 92,362 27,857
Revaluations - - -
Reclassification/transfer - - -
At 31 December 2024 3,275,017 1,299,960 77,887
Depreciation
At 1 January 2024 - 717,767 9,019
Charge for year - 81,844 6,555
Charge written back - - -
At 31 December 2024 - 799,611 15,574
Net book value
At 31 December 2024 3,275,017 500,349 62,313
At 31 December 2023 3,018,388 489,831 41,011

Motor Computer
vehicles equipment Totals
£    £    £   
Cost or valuation
At 1 January 2024 647,033 3,466 4,926,515
Additions 423,832 - 800,680
Revaluations 3,285 - 3,285
Reclassification/transfer (21,087 ) - (21,087 )
At 31 December 2024 1,053,063 3,466 5,709,393
Depreciation
At 1 January 2024 208,475 3,466 938,727
Charge for year 155,108 - 243,507
Charge written back (9,682 ) - (9,682 )
At 31 December 2024 353,901 3,466 1,172,552
Net book value
At 31 December 2024 699,162 - 4,536,841
At 31 December 2023 438,558 - 3,987,788

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2021 1,809,051 - -
Cost 1,465,966 1,299,960 77,887
3,275,017 1,299,960 77,887

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2021 - - 1,809,051
Cost 1,053,063 3,466 3,900,342
1,053,063 3,466 5,709,393

5. STOCKS
31.12.24 31.12.23
£    £   
Stocks 1,280,564 1,450,433

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 112,234 211,417
Other debtors 21,502 21,047
133,736 232,464

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts (see note 9) 49,161 172,203
Hire purchase contracts 78,457 49,188
Trade creditors 770,467 788,164
Taxation and social security 49,430 38,566
Other creditors 112,033 58,570
1,059,548 1,106,691

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans (see note 9) 1,429,308 1,478,061
Hire purchase contracts 517,007 322,131
Other creditors 171,219 220,746
2,117,534 2,020,938

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,232,664 1,283,645

9. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 123,599
Bank loans 49,161 48,604
49,161 172,203

Amounts falling due between one and two years:
Bank loans - 1-2 years 49,161 48,604

Amounts falling due between two and five years:
Bank loans - 2-5 years 147,483 145,812

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,232,664 1,283,645

MEISTER LIMITED (REGISTERED NUMBER: 04548492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
National Westminster Bank PLC 1,478,469 -
Santander Consumer (UK) PLC - 717,991
1,478,469 717,991

National Westminster Bank PLC hold fixed and floating charges over the assets of the company.

11. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 499,489 338,023

Deferred
tax
£   
Balance at 1 January 2024 338,023
Provided during year 161,466
Balance at 31 December 2024 499,489

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
50 Ordinary £1 50 50
50 Ordinary A £1 50 50
100 100

13. CONTINGENT LIABILITIES

Meister Limited issues warranties when vehicles are sold covering between 6 months and 36 months. Should any claims be made, the costs that are incurred will be charged in the year that they occur. A contingent liability value can not be quantified.