MEB Total Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05240358 (England and Wales)

MEB TOTAL LIMITED

Unaudited Financial Statements

for the Year Ended 30 March 2020

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

L A Willis

REGISTERED OFFICE:

Unit D1 Fenton Trade Park

Dewsbury Road

Fenton Industrial Estate

Stoke on Trent

Staffordshire

ST4 2TE

REGISTERED NUMBER:

05240358 (England and Wales)

ACCOUNTANTS:

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 March 2020 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

4 September 2020

FIXED ASSETS

Intangible assets

4

43,750

48,750

Tangible assets

5

194,959

85,005

238,709

133,755

CURRENT ASSETS

Stocks

53,702

50,270

Debtors

6

1,054,584

824,193

Cash at bank and in hand

209,309

198

1,317,595

874,661

CREDITORS

Amounts falling due within one year

7

735,893

487,725

NET CURRENT ASSETS

581,702

386,936

TOTAL ASSETS LESS CURRENT LIABILITIES

820,411

520,691

CREDITORS

Amounts falling due after more than one year

8

120,213

28,570

NET ASSETS

700,198

492,121

CAPITAL AND RESERVES

Called up share capital

550

550

Capital redemption reserve

9

450

450

Retained earnings

9

699,198

491,121

700,198

492,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 4 September 2020 and were signed by:

L A Willis - Director

1.	STATUTORY INFORMATION

MEB Total 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2019 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 March 2019

and 30 March 2020

100,000

AMORTISATION

At 31 March 2019

51,250

Charge for year

5,000

At 30 March 2020

56,250

NET BOOK VALUE

At 30 March 2020

43,750

At 30 March 2019

48,750

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 31 March 2019

58,284

15,502

226,640

300,426

Additions

1,799

7,836

184,251

193,886

Disposals

(4,500

)

-

-

(4,500

)

At 30 March 2020

55,583

23,338

410,891

489,812

DEPRECIATION

At 31 March 2019

26,275

4,721

184,425

215,421

Charge for year

11,843

4,531

67,558

83,932

Eliminated on disposal

(4,500

)

-

-

(4,500

)

At 30 March 2020

33,618

9,252

251,983

294,853

NET BOOK VALUE

At 30 March 2020

21,965

14,086

158,908

194,959

At 30 March 2019

32,009

10,781

42,215

85,005

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 31 March 2019

127,676

Additions

180,768

Transfer to ownership

(86,236

)

At 30 March 2020

222,208

DEPRECIATION

At 31 March 2019

85,460

Charge for year

55,552

Transfer to ownership

(75,100

)

At 30 March 2020

65,912

NET BOOK VALUE

At 30 March 2020

156,296

At 30 March 2019

42,216

6.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

766,899

775,367

Amounts owed by participating interests

209,641

10,773

Other debtors

76,685

38,053

1,053,225

824,193

Amounts falling due after more than one year:

Trade debtors

1,359

-

Aggregate amounts

1,054,584

824,193

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

-

15,750

Hire purchase contracts

77,944

18,882

Trade creditors

386,657

246,265

Amounts owed to participating interests

5,000

-

Taxation and social security

202,088

112,508

Other creditors

64,204

94,320

735,893

487,725

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

120,213

28,570

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 31 March 2019

491,121

450

491,571

Profit for the year

239,277

-

239,277

Dividends

(31,200

)

-

(31,200

)

At 30 March 2020

699,198

450

699,648