Accounts filed on 31-03-2016

MERIDIAN ELECTRICAL CONTRACTING LIMITED - Company Information

053906552015-04-012016-03-31falsetruehttp://www.companieshouse.gov.uk/2015-03-31http://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2015-03-31http://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2016-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-03-31http://www.companieshouse.gov.uk/cd:Director12015-04-012016-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2016-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2015-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2016-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-03-31http://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2015-04-012016-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-04-012016-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2016-03-31http://www.companieshouse.gov.uk/pt:MotorCars2015-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2015-04-012016-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22015-04-012016-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12016-03-31http://www.companieshouse.gov.uk/pt:MotorCars2016-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2015-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22016-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12015-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2016-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2015-04-012016-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22015-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2015-04-012016-03-31http://www.companieshouse.gov.uk/pt:MotorCars2015-04-012016-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2015-04-012016-03-31http://www.companieshouse.gov.uk/2014-04-012015-03-31http://www.companieshouse.gov.uk/2015-04-012016-03-31http://www.companieshouse.gov.uk/2015-03-31http://www.companieshouse.gov.uk/2016-03-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2015-04-012016-03-31iso4217:GBPxbrli:sharesxbrli:pure


Registered number: 05390655






Meridian Electrical Contracting Limited


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016
























Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
3a Springfield Road
Ashley Cross
Poole
Dorset
BH14 0LG


Meridian Electrical Contracting Limited


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31 March 2016

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		3



The company's registered number is 05390655


Registered Number: 05390655

BALANCE SHEET AT 31 MARCH 2016

			2016		2015
	Notes		£		£

FIXED ASSETS
Intangible assets	2		34,000		34,000
Tangible assets	3		90,143		91,162

			124,143		125,162

CURRENT ASSETS
Stock		58,941		92,952
Debtors (amounts falling due within one year)	4	764,363		657,398
Cash at bank and in hand		497,622		637,169
		1,320,926		1,387,519
CREDITORS: Amounts falling due within one year		1,316,624		1,006,057
NET CURRENT ASSETS			4,302		381,462
TOTAL ASSETS LESS CURRENT LIABILITIES			128,445		506,624


PROVISIONS FOR LIABILITIES			2,392		5,240

NET ASSETS			126,053		501,384

CAPITAL AND RESERVES

Called up share capital	5		4		4
Profit and loss account			126,049		501,380
SHAREHOLDERS' FUNDS			126,053		501,384

For the year ending 31 March 2016 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.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the board on 25 November 2016 and signed on their behalf by




Ian Jordan
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short Leasehold Properties		reducing balance 20%
Plant and Machinery		reducing balance 20%
Fixtures and Fittings		reducing balance 20%
Equipment		reducing balance 33%
Motor Cars		reducing balance 25%




1d. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.




1e. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1f. Pension Costs
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.




1g. Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.




1h. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1i. Goodwill
Goodwill arising in connection with the acquisition of the business has been capitalised. The directors believe it inappropriate to amortise goodwill in light of recent results. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.




1j. Leases
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.




2. INTANGIBLE FIXED ASSETS

	Purchased
	Goodwill	Total
	£	£
Cost
At 1 April 2015	34,000	34,000
At 31 March 2016	34,000	34,000
Depreciation
At 31 March 2016	-	-
Net Book Amounts
At 31 March 2016	34,000	34,000
At 31 March 2015	34,000	34,000




3. TANGIBLE FIXED ASSETS

	Short Leasehold	Plant and	Fixtures
	Properties	Machinery	and Fittings	Equipment	Motor Cars	Total
	£	£	£	£	£	£
Cost
At 1 April 2015	9,241	6,121	5,549	16,165	173,938	211,014
Additions	-	-	-	2,883	62,633	65,516
Disposals	-	-	-	-	(91,803)	(91,803)
At 31 March 2016	9,241	6,121	5,549	19,048	144,768	184,727
Depreciation
At 1 April 2015	3,327	5,486	4,635	13,091	93,313	119,852
Disposals	-	-	-	-	(55,454)	(55,454)
For the year	1,183	127	183	1,966	26,727	30,186
At 31 March 2016	4,510	5,613	4,818	15,057	64,586	94,584
Net Book Amounts
At 31 March 2016	4,731	508	731	3,991	80,182	90,143
At 31 March 2015	5,914	635	914	3,074	80,625	91,162
Included in motor vehicles are assets held under finance agreements the net value of which is £45,475. Depreciation for the year on these assets amounted to £14,158.




4. DEBTORS	2016	2015
	£	£

Amounts falling due within one year:
Trade debtors	701,137	577,893
Other debtors	63,226	79,505
	764,363	657,398




5. SHARE CAPITAL	2016	2015
	£	£
Allotted, issued and fully paid:
2 Ordinary shares of £1 each	2	2
2 Class B shares of £1 each	2	2
	4	4




6. RELATED PARTY TRANSACTIONS
Included in other debtors are amounts due from two entities under the control of two of the directors of the company. Balances at 31 March 2016 represent loans from the company to the other entities and are as follows:
Meridian Mechanical Services (UK) Limited £56,474
Meridian Shopfitting Limited £325




7. TRANSACTIONS WITH DIRECTORS
Included in other creditors are amounts due to two of the directors:
R Wayles £99,397
I Jordan £499,258




8. CONTROLLING PARTY
The company is controlled by two of the directors with no individual director having overall control.