MEDITE SMARTPLY UK LIMITED

MEDITE SMARTPLY UK LIMITED

MEDITE SMARTPLY UK LIMITED - Company Information

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MEDITE SMARTPLY UK LIMITED

Company Registration Number:
06671168 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2019

Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

MEDITE SMARTPLY UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2019

Balance sheet
Notes

MEDITE SMARTPLY UK LIMITED

Balance sheet

As at 31 December 2019


Notes
2019
2018


£
£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 97,052 92,451
Investments:   0 0
Total fixed assets: 97,052 92,451
Current assets
Stocks: 0 0
Debtors: 4 988,640 772,950
Cash at bank and in hand: 847,803 818,323
Investments:   0 0
Total current assets: 1,836,443 1,591,273
Creditors: amounts falling due within one year: 5 (905,022) (853,047)
Net current assets (liabilities): 931,421 738,226
Total assets less current liabilities: 1,028,473 830,677
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 1,028,473 830,677
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 1,028,472 830,676
Shareholders funds: 1,028,473 830,677

The notes form part of these financial statements

MEDITE SMARTPLY UK LIMITED

Balance sheet statements

For the year ending 31 December 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 11 June 2020
and signed on behalf of the board by:

Name: Gerard Britchfield
Status: Director

The notes form part of these financial statements

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

2. Employees

2019 2018
Average number of employees during the period 26 24

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

3. Tangible Assets

Total
Cost £
At 01 January 2019 323,427
Additions 53,849
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2019 377,276
Depreciation
At 01 January 2019 230,976
Charge for year 49,248
On disposals 0
Other adjustments 0
At 31 December 2019 280,224
Net book value
At 31 December 2019 97,052
At 31 December 2018 92,451

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

4. Debtors

2019 2018
££
Debtors due after more than one year: 0 0

All Debtors are amounts falling due within one year

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

5. Creditors: amounts falling due within one year note

Trade Creditors 2019 155,192 2018 34,280Corporation Tax 2019 17,512 2018 15,336PAYE & Social Security 2019 47,659 2018 47,962Accruals 2019 684,659 2018 755,469Totals 2019 905,022 2018 853,047

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

6. Financial commitments

Financial Commitments - Operating Leases2019 245,587 and 2018 361,110

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

7. Related party transactions

Transactions with the parent company and with other wholly owned subsidiary companies of Coillte CGA are not disclosed as the Company has availed of the exemption available under FRS 102 paragraph 33.1A from disclosing such transactions.

MEDITE SMARTPLY UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2019

8. Post balance sheet events

On 10 March 2020 the Company’s name was changed from Coillte Panel Products UK Limited to Medite Smartply UK Limited.At the date of approval of the financial statements, the Covid-19 Pandemic is creating enormous global economic and societal uncertainty. The Company is continuing to address the impact of the Covid-19 pandemic on its operations. This pandemic has clearly changed the market dynamic and is likely to have an adverse impact on business for at least Q2 and Q3 of 2020. As the outbreak is a non-adjusting post balance sheet event, there is no impact on the recognition and measurement of the Company’s assets and liabilities as at 31 December 2019. There have been no other significant events since the end of the financial year.