REGISTERED NUMBER: 02579560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

MERIDIAN DEVELOPMENT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

Ms R Carruthers

Councillor A Shah

REGISTERED OFFICE:

Meridian Business Centre

King Street

Oldham

Lancashire

OL8 1EZ

REGISTERED NUMBER:

02579560 (England and Wales)

ACCOUNTANTS:

Jane Cooksey Limited

15/16 Boarshurst Bus. Park,

Boarshurst Lane, Greenfield

Oldham

Lancashire

OL3 7ER

FIXED ASSETS

Tangible assets

4

508,333

508,333

Investments

5

2,053,146

2,123,146

2,561,479

2,631,479

CURRENT ASSETS

Debtors

6

1,879,799

1,906,696

Cash at bank

105,841

22,264

1,985,640

1,928,960

CREDITORS

Amounts falling due within one year

7

10,280

6,198

NET CURRENT ASSETS

1,975,360

1,922,762

TOTAL ASSETS LESS CURRENT LIABILITIES

4,536,839

4,554,241

PROVISIONS FOR LIABILITIES

59,464

59,464

NET ASSETS

4,477,375

4,494,777

CAPITAL AND RESERVES

Called up share capital

1,311,220

1,311,220

Revaluation reserve

8

98,000

98,000

Capital redemption reserve

1,359,801

1,359,801

Retained earnings

1,708,354

1,725,756

SHAREHOLDERS' FUNDS

10

4,477,375

4,494,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

Ms R Carruthers - Director

1.	STATUTORY INFORMATION

Meridian Development Company 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.

Preparation of consolidated financial statements

The financial statements contain information about Meridian Development Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

not provided

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 March 2024

and 28 February 2025

508,333

NET BOOK VALUE

At 28 February 2025

508,333

At 29 February 2024

508,333

Included in cost or valuation of land and buildings is freehold land of £ 508,333 (2024 - £ 508,333 ) which is not depreciated.

Cost or valuation at 28 February 2025 is represented by:

Land and

buildings

£

Valuation in 2018

305,162

Cost

203,171

508,333

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

203,171

203,171

Freehold land and buildings were valued on an open market basis on 28 February 2025 by the directors .

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Shares in group undertakings

1,167,013

1,167,013

Loans to group undertakings

886,133

956,133

2,053,146

2,123,146

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 March 2024

and 28 February 2025

1,167,013

NET BOOK VALUE

At 28 February 2025

1,167,013

At 29 February 2024

1,167,013

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Interurban Limited

Registered office: Meridian Business Centre King Street, Oldham OL8 1EZ

Nature of business: managing and operating the Meridian Centre.

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

668,992

738,549

Loss for the year

(69,557

)

(64,203

)

Loans to

group

undertakings

£

At 1 March 2024

956,133

Repayment in year

(70,000

)

At 28 February 2025

886,133

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,805,559

1,805,559

Amounts owed by associates

70,000

17,817

Other debtors

4,240

83,320

1,879,799

1,906,696

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

8,850

4,801

Taxation and social security

-

(33

)

Other creditors

1,430

1,430

10,280

6,198

8.

RESERVES

Revaluation

reserve

£

At 1 March 2024

and 28 February 2025

98,000

9.	RELATED PARTY DISCLOSURES

10.	RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS

2025

2024

£

£

Loss for the financial year

(17,402

)

(39,316

)

Net reduction of shareholders' funds

(17,402

)

(39,316

)

Opening shareholders' funds

4,494,777

4,534,093

Closing shareholders' funds

4,477,375

4,494,777

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Meridian Development Company Limited for the year ended 28 February 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Meridian Development Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Meridian Development Company Limited and state those matters that we have agreed to state to the Board of Directors of Meridian Development Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Meridian Development Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Meridian Development Company Limited. You consider that Meridian Development Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Meridian Development Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jane Cooksey Limited

15/16 Boarshurst Bus. Park,

Boarshurst Lane, Greenfield

Oldham

Lancashire

OL3 7ER

5 November 2025