Company Registration No. 12053099 (England and Wales)
MEREDITH PROPERTY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2020
MEREDITH PROPERTY SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MEREDITH PROPERTY SERVICES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2020
30 June 2020
- 1 -
2020
Notes
£
£
Fixed assets
Tangible assets
3
327,871
Current assets
-
Creditors: amounts falling due within one year
4
(336,306)
Net current liabilities
(336,306)
Net liabilities
(8,435)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(8,535)
Total equity
(8,435)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 June 2021 and are signed on its behalf by:
B Meredith
J Meredith
Director
Director
Company Registration No. 12053099
MEREDITH PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2020
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
On 11 March 2020, Covid-19 was designated a pandemic by the World Health Organisation (WHO). The directors continue to review the impact on the business, ensuring provisions are put in place to mitigate any risk to the company’s ability to trade as a going concern. At the date of signing the financial statements, in the opinion of the directors, Covid-19 will not impact on the company’s ability to trade as a going concern. Consequently, the company continues to adopt the going concern basis in preparing the financial statements.
true
1.3
Reporting period
The financial statements cover a period greater than one year, this is due to them being the first set of accounts for the company.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Company information
Meredith Property Services Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.
MEREDITH PROPERTY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2020
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2
.
3
Tangible fixed assets
Land and buildings
£
Cost
Additions
334,606
At 30 June 2020
334,606
Depreciation and impairment
Depreciation charged in the period
6,735
At 30 June 2020
6,735
Carrying amount
At 30 June 2020
327,871
4
Creditors: amounts falling due within one year
2020
£
Other creditors
336,306