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REGISTERED NUMBER: 09366710 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MERIDIAN (LEICESTER) LIMITED

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERIDIAN (LEICESTER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr G E Bell
Mr D G Walton
Mr Z E Evatt
Mr A W Warren



REGISTERED OFFICE: 68 Pullman Road
Wigston
Leicester
Leicestershire
LE18 2DB



REGISTERED NUMBER: 09366710 (England and Wales)



SENIOR STATUTORY AUDITOR: Mark Harrison BA(Hons) FCA



AUDITORS: Mark J Rees LLP Chartered Accountants
Granville Hall
Granville Road
Leicester
Leicestershire
LE1 7RU

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,484 14,423
Tangible assets 5 108,325 81,715
116,809 96,138

CURRENT ASSETS
Debtors 6 1,257,902 1,097,071
Cash at bank and in hand 922,697 747,811
2,180,599 1,844,882
CREDITORS
Amounts falling due within one year 7 715,359 540,500
NET CURRENT ASSETS 1,465,240 1,304,382
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,582,049

1,400,520

PROVISIONS FOR LIABILITIES 8 464,803 382,116
NET ASSETS 1,117,246 1,018,404

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,117,146 1,018,304
SHAREHOLDERS' FUNDS 1,117,246 1,018,404

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:




Mr G E Bell - Director Mr D G Walton - Director




Mr Z E Evatt - Director Mr A W Warren - Director


MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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


1. STATUTORY INFORMATION

Meridian (Leicester) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Turnover represents invoiced sales of services to customers. Commissions on policies sold are recognised when mortgage contracts complete and insurance policies go on risk. Renewals commission is recognised in the period in which renewals occur.

Insurance income taken at the outset of the policy is charged directly to the profit and loss account, however in the event of a cancellation there is potential for a clawback of fees.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance and 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Provisions
A provision is recognised in the statement of financial position when the Company has a present legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 75 (2023 - 74 ) .

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 29,694
AMORTISATION
At 1 January 2024 15,271
Charge for year 5,939
At 31 December 2024 21,210
NET BOOK VALUE
At 31 December 2024 8,484
At 31 December 2023 14,423

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2024 241,495
Additions 50,085
At 31 December 2024 291,580
DEPRECIATION
At 1 January 2024 159,780
Charge for year 23,475
At 31 December 2024 183,255
NET BOOK VALUE
At 31 December 2024 108,325
At 31 December 2023 81,715

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 149,879 65,185
Amounts owed by group undertakings 1,101,033 1,027,299
Other debtors 6,990 4,587
1,257,902 1,097,071

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 62 -
Payments on account 327,516 272,188
Trade creditors 39,928 13,221
Amounts owed to group undertakings 128,626 84,497
Taxation and social security 120,252 134,592
Other creditors 98,975 36,002
715,359 540,500

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 29,061 23,892

Other provisions
Clawback provisions 404,438 324,355
Proc fee reclaim provision 31,304 33,869
435,742 358,224

Aggregate amounts 464,803 382,116

Deferred Other
tax provisions
£    £   
Balance at 1 January 2024 23,892 358,224
Movement 5,169 77,518
Balance at 31 December 2024 29,061 435,742

MERIDIAN (LEICESTER) LIMITED (REGISTERED NUMBER: 09366710)

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


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Harrison BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Mark J Rees LLP Chartered Accountants

10. ULTIMATE CONTROLLING PARTY

The company's parent and ultimate controlling parent is Meridian Holdings Group Ltd owning 100% of the shares in Meridian (Leicester) Limited. The registered address for Meridian Holdings Group Limited is 68 Pullman Road, Wigston, Leicester, LE18 2DB.