Meru Close Management Limited - Filleted accounts

Registered number

02670140

Meru Close Management Limited

Filleted Accounts

31 December 2024

Meru Close Management Limited
Registered number:		02670140
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Current assets
Debtors	4	101,129			96,458
Cash at bank and in hand		13,966			14,169
		115,095			110,627

Creditors: amounts falling due within one year	5	(3,345)			(2,602)

Net current assets			111,750			108,025

Total assets less current liabilities			111,750			108,025

Creditors: amounts falling due after more than one year	6		(111,750)			(108,025)



Net assets			-			-

Capital and reserves

Shareholders' funds			-			-

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Martin Humphries
Director
Approved by the board on 17 September 2025

Meru Close Management Limited
Notes to the Accounts
for the year ended 31 December 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:

	Freehold buildings		over 50 years
	Leasehold land and buildings		over the lease term
	Plant and machinery		over 5 years
	Fixtures, fittings, tools and equipment		over 5 years

	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.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			0		0


3	Tangible fixed assets
						Plant and machinery etc
£
	Cost
	At 1 January 2024					5,532
	At 31 December 2024					5,532

	Depreciation
	At 1 January 2024					5,532
	At 31 December 2024					5,532

	Net book value
	At 31 December 2024					-


4	Debtors			2024		2023
£					£

	Service costs to be recharged			100,975		96,304
	Other debtors			154		154
				101,129		96,458


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Service charges in advance			154		154
	Other creditors			3,191		2,448
				3,345		2,602


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Unspent cyclical service charges			111,750		108,025


7	Related party transactions

	Meru Close is managed by four Registered Social Landlords namely : Abeona Housing Co-operative Ltd; Odu Dua Housing Association Ltd; Pan African Refugee Housing Co-operative Ltd and South Camden Housing Co-operative Ltd. Meru Close's service charge income is derived from transactions with the above four organisations. In addition the company receives income from these four organisations and freeholders towards cyclical, structural, car park repairs and maintenance costs including associated professional fees. All transactions with the member organisations are in the normal course of business and at fair values . The transactions during the year and balances at the year end with the four organisations were as follows:

		Service Charges Income	Debtor balances	Creditor balances

	Abeona Housing Co-op	1,792	13,026	14,416

	South Camden Housing co-op	1,209	9,795	10,840

	Odu Dua Housing Association	3,528	29,283	32,408

	Pan African Refugee Hous Co-op	5,880	48,872	54,087

8	Other information

	Meru Close Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
	7 Meru Close
	London
	NW5 4AQ