Registered number
13578456
Meredian International Ltd
Report and Financial Statements
31 August 2024
Meredian International Ltd
Registered number: 13578456
Director's Report
The director presents his report and financial statements for the year ended 31 August 2024.
Principal activities
The company's principal activity during the period was that of the manufacture of wallpaper and wallpaper products.
Directors
The following persons served as directors during the period :
Mr S Bakala
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 23 May 2025 and signed on its behalf.
Mr S Bakala
Director
Meredian International Ltd
Profit and Loss Account
for the year ended 31 August 2024
2024 2023
£ £
Turnover 2,545,294 1,834,861
Cost of sales (1,915,770) (1,526,574)
Gross profit 629,524 308,287
Administrative expenses (346,376) (300,945)
Operating profit 283,148 7,342
Interest receivable 138 -
Interest payable (751) (1,289)
Profit on ordinary activities before taxation 282,535 6,053
Tax on profit on ordinary activities (29,989) -
Profit for the financial period 252,546 6,053
Meredian International Ltd
Registered number: 13578456
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 203,941 41,360
Current assets
Stocks 66,845 24,186
Debtors 4 268,871 39,837
Cash at bank and in hand 104,786 57,846
440,502 121,869
Creditors: amounts falling due within one year 5 (212,494) (71,672)
Net current assets 228,008 50,197
Total assets less current liabilities 431,949 91,557
Creditors: amounts falling due after more than one year 6 (173,349) (85,503)
Net assets 258,600 6,054
Capital and reserves
Called up share capital 1 1
Profit and loss account 258,599 6,053
Shareholder's funds 258,600 6,054
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Bakala
Director
Approved by the board on 23 May 2025
Meredian International Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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
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 15% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 48,659
Additions 198,571
At 31 August 2024 247,230
Depreciation
At 1 September 2023 7,299
Charge for the year 35,990
At 31 August 2024 43,289
Net book value
At 31 August 2024 203,941
At 31 August 2023 41,360
4 Debtors 2024 2023
£ £
Trade debtors 262,647 35,214
Other debtors 6,224 4,623
268,871 39,837
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 155,746 51,748
Corporation tax 29,989 -
Other taxes and social security costs 18,107 12,751
Other creditors 8,652 7,173
212,494 71,672
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 173,349 85,503
7 Other information
Meredian International Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office 4 First Floor
Birmingham
B10 0TH
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