MERIDIAN ELECTRICAL CONTRACT - Accounts 2014

MERIDIAN ELECTRICAL CONTRACTING LIMITED - Company Information

2013-04-012014-03-3105390655falsetruehttp://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2013-03-31http://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2014-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2013-03-31http://www.companieshouse.gov.uk/cd:Director12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2014-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-03-31http://www.companieshouse.gov.uk/pt:LandBuildingspt:ShortLeaseholdProperties2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-04-012014-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2013-03-31http://www.companieshouse.gov.uk/pt:PlantMachinery2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2014-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2013-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2014-03-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-04-012014-03-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22013-03-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-04-012014-03-31http://www.companieshouse.gov.uk/pt:MotorCars2013-04-012014-03-31http://www.companieshouse.gov.uk/pt:PositiveGoodwill2013-04-012014-03-31http://www.companieshouse.gov.uk/2012-04-012013-03-31http://www.companieshouse.gov.uk/2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31http://www.companieshouse.gov.uk/2014-03-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-04-012014-03-31http://www.companieshouse.gov.uk/2013-03-31iso4217:GBPxbrli:sharesxbrli:pure


Registered number: 05390655






Meridian Electrical Contracting Limited


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014
























Prepared By:
Willow Accounting & Consultancy
Chartered Certified Accountants
BH14 0AX


Meridian Electrical Contracting Limited


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31 March 2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		4



The company's registered number is 05390655


Registered Number: 05390655

BALANCE SHEET AT 31 MARCH 2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Intangible assets	2		34,000		34,000
Tangible assets	3		109,938		24,056

			143,938		58,056

CURRENT ASSETS
Stock		18,829		32,688
Debtors (amounts falling due within one year)	4	616,049		740,736
Cash at bank and in hand		658,294		49,286
		1,293,172		822,710
CREDITORS: Amounts falling due within one year		1,116,529		793,922
NET CURRENT ASSETS			176,643		28,788
TOTAL ASSETS LESS CURRENT LIABILITIES			320,581		86,844


PROVISIONS FOR LIABILITIES			7,107		3,985

NET ASSETS			313,474		82,859

CAPITAL AND RESERVES

Called up share capital	5		4		4
Profit and loss account			313,470		82,855
SHAREHOLDERS' FUNDS			313,474		82,859


Registered Number: 05390655

For the year ending 31 March 2014 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 2 December 2014 and signed on their behalf by




Ian Jordan
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014

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 April 2008).




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 April 2008).




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




1h. 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.




1i. 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 2013	34,000	34,000
At 31 March 2014	34,000	34,000
Depreciation
At 31 March 2014	-	-
Net Book Amounts
At 31 March 2014	34,000	34,000
At 31 March 2013	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 2013	-	6,121	5,076	13,227	53,863	78,287
Additions	9,241	-	473	1,705	132,142	143,561
Disposals	-	-	-	-	(22,315)	(22,315)
At 31 March 2014	9,241	6,121	5,549	14,932	163,690	199,533
Depreciation
At 1 April 2013	-	5,128	4,122	9,922	35,059	54,231
Disposals	-	-	-	-	(1,038)	(1,038)
For the year	1,848	199	285	1,653	32,417	36,402
At 31 March 2014	1,848	5,327	4,407	11,575	66,438	89,595
Net Book Amounts
At 31 March 2014	7,393	794	1,142	3,357	97,252	109,938
At 31 March 2013	-	993	954	3,305	18,804	24,056
Included in motor vehicles are assets held under finance agreements the net value of which is £38,472. Depreciation for the year on these assets amounted to £12,824.




4. DEBTORS	2014	2013
	£	£

Amounts falling due within one year:
Trade debtors	523,341	578,368
Other debtors	86,604	162,368
	609,945	740,736




5. SHARE CAPITAL	2014	2013
	£	£
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 2014 represent loans from the company to the other entities and are as follows:
Meridian Mechanical Services (UK) Limited £65,724
Meridian Shopfitting Limited £5,825




7. TRANSACTIONS WITH DIRECTORS
Included in other creditors are amounts due to two of the directors:
R Wayles £347
I Jordan £292,960




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