Meridian Utilities Limited 31/01/2026 iXBRL

Company registration number: NI061828

Meridian Utilities Limited

Abridged filleted financial statements

31 January 2026

Meridian Utilities Limited

Contents

Directors and other information

Directors responsibilities statement

Abridged statement of financial position

Notes to the financial statements

Meridian Utilities Limited

Directors and other information


	Directors	Mr Kenneth Samuel Mills
		Mr Alfred John Morrow
		Mr Thomas Gerard O'Connell


	Secretary	Terence John McCrum


	Company number	NI061828


	Registered office	37 Rocky Road
		Gilnahirk
		Belfast
		BT5 7TA


	Business address	37 Rocky Road
		Gilnahirk
		Belfast
		BT5 7TA


	Auditor	HLB McGuire + Farry Limited
		Emerson House
		Carryduff
		BELFAST
		BT8 8DN




	Bankers	Dankse Bank
		Donegall Square West
		Belfast
		BT1 6JS

Meridian Utilities Limited

Directors responsibilities statement

Year ended 31 January 2026

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Meridian Utilities Limited

Abridged statement of financial position

31 January 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Intangible assets	5	90,956		61,020
Tangible assets	6	114,976		139,739
		_______		_______
			205,932		200,759

Current assets
Debtors		3,430,848		2,013,593
Cash at bank and in hand		1,484,097		1,579,126
		_______		_______
		4,914,945		3,592,719
Creditors: amounts falling due
within one year		( 4,385,247)		( 2,936,871)
		_______		_______
Net current assets			529,698		655,848
			_______		_______
Total assets less current liabilities			735,630		856,607


Provisions for liabilities			( 34,170)		( 31,842)

			_______		_______
Net assets			701,460		824,765
			_______		_______

Capital and reserves
Called up share capital			3		3
Profit and loss account			701,457		824,762
			_______		_______
Shareholders funds			701,460		824,765
			_______		_______

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 abridged statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 January 2026 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 29 October 2026 , and are signed on behalf of the board by:

Mr Alfred John Morrow

Director

Company registration number: NI061828

Meridian Utilities Limited

Notes to the financial statements

Year ended 31 January 2026

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Merdian Utilities Limited, 37 Rocky Road, Gilnahirk, Belfast, BT5 7TA.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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 for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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:


Other intangible assets	-	15 %	reducing balance

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.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Freehold property	-	2 %	straight line
Fittings fixtures and equipment	-	15 %	reducing balance
Motor vehicles	-	15 %	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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2025: 10 ).

5. Intangible assets


		£
	Cost
	At 1 February 2025	135,390
	Additions	39,089
		_______
	At 31 January 2026	174,479
		_______
	Amortisation
	At 1 February 2025	74,370
	Charge for the year	9,153
		_______
	At 31 January 2026	83,523
		_______
	Carrying amount
	At 31 January 2026	90,956
		_______
	At 31 January 2025	61,020
		_______

6. Tangible assets


		£
	Cost
	At 1 February 2025	570,066
	Additions	6,994
	Write offs	( 153,799)
		_______
	At 31 January 2026	423,261
		_______
	Depreciation
	At 1 February 2025	430,327
	Charge for the year	11,704
	Write offs	( 133,746)
		_______
	At 31 January 2026	308,285
		_______
	Carrying amount
	At 31 January 2026	114,976
		_______
	At 31 January 2025	139,739
		_______

7. Summary audit opinion

The auditor's report dated 29 October 2026 was unqualified.

The senior statutory auditor was Keith William McManus FCCA for and on behalf of HLB McGuire + Farry Limited

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2026	2025
	£	£
	Transaction value		Balance owed to
	2026	2025	2026	2025
	£	£	£	£
Morrow Contracts Limited	14,671,776	14,049,063	1,354,093	844,198
Mills Contracts Limited	12,655,386	11,920,613	1,253,865	567,337
T O'Connell (Utilities) Limited	9,581,997	9,570,791	764,477	574,355
	_______	_______	_______	_______

Mr Alfred John Morrow , a director of Morrow Contracts Limited, is also a director of Meridian Utilities Limited. During the year, Morrow Contracts Limited's subcontracted services and recharges with Meridian Utilities Limited amounted to £14,671,776 (2025: £14,049,063). The balance owed at the year end includes accrued costs of £866,927 (2025: nil), included within accruals.

Mr Kenneth Mills, a director of Meridian Utilities Limited is also a director of Mills Contracts Limited. During the year, Mills Contracts' subcontracted services with Meridian Utilities Limited amounted to £12,655,386 (2025: £11,920,613). The balance owed at the year end includes accrued costs of £436,353 (2025: £88,765), included within accruals.

Mr Thomas Gerard O'Connell is a director in T O'Connell (Utilities) Limited and Meridian Utilities Limited. During the year, T O'Connell (Utilities) Limited's subcontracted services with Meridian (Utilities) Limited amounted to £ 9,581,997 (2025: £9,570,791). The balance owed at the year end includes accrued costs of £515,300 (2025: £356,666), included within accruals.

9. Controlling party

The company is under the control of the three directors , Mr Alfred John Morrow, Mr Kenneth Samuel Mills and Mr Thomas Gerard O'Connell.

10. Joint arrangement

The company has certain contractual arrangements with other participants to engage in joint activities that do not create an entity carrying on a trade or business of its own. The company include its share of the assets, liabilities and cash flows in such joint arrangements measured in accordance with the terms of the engagement, which is pro-rata to the company's interest in the joint arrangement.

11. Comparative figures

Software applications previously included within tangible fixed assets (fixtures, fittings and equipment) have been reclassified to intangible assets. Software applications that are not an integral part of related hardware are more appropriately presented as an intangible asset. The comparative figures have been adjusted accordingly. This reclassified cost of £135,390, accumulated depreciation of £74,370 and a net book value of £61,020 at 31 January 2025, and a 2025 charge of £10,768, now presented as amortisation rather than depreciation. The reclassification has no effect on the profit or loss, or on the net assets, of the prior year.