Meetstart Limited - Accounts

Meetstart Limited - Accounts

MEETSTART LIMITED - Company Information

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Logo On Report
Registered Number: 02517881
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 September 2021

for

MEETSTART LIMITED

Meetstart Limited
Contents Page
For the year ended 30 September 2021
Directors John Canham
Matthew Canham
Registered Number 02517881
Registered Office 21 The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
Accountants Quove Accounting Ltd
The Vision Centre
5 Eastern Way
Bury St Edmunds
IP32 7AB
1
The directors present their annual report and the financial statements for the year ended 30 September 2021
Principal activities
The principal activity of the company during the financial year was the repair and maintenance of motor vehicles.
The directors who served the company throughout the year were as follows:
John Canham
Matthew Canham

The directors who resigned from the company during the year were as follows
CANHAM Barbara Helen
CANHAM Barbara Helen
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :
-    select suitable accounting policies and then apply them consistently
-    make judgements and accounting estimates that are reasonable and prudent
-    state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
-    prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
John Canham
Director

Date approved: 16 June 2022
2
 
 		 Notes
 		 2021
£		   2020
£
Fixed assets      
Tangible fixed assets 3 388,605    391,849 
Investments 4 100    100 
388,705    391,949 
Current assets      
Stocks 5 3,500    3,500 
Debtors 6 90,669    85,419 
Cash at bank and in hand 70,785    115,383 
164,954    204,302 
Creditors: amount falling due within one year 7 (68,871)   (77,566)
Net current assets 96,083    126,736 
 
Total assets less current liabilities 484,788    518,685 
Creditors: amount falling due after more than one year 8 (124,339)   (132,391)
Net assets 360,449    386,294 
 

Capital and reserves 		     
Called up share capital 287    287 
Profit and loss account 360,162    386,007 
Shareholder's funds 360,449    386,294 
 


For the year ended 30 September 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 16 June 2022 and were signed on its behalf by:


--------------------------------
John Canham
Director
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General Information
Meetstart Limited is a private company, limited by shares, registered in England and Wales, registration number 02517881, registration address 21 The Vision Centre, 5 Eastern Way, Bury St Edmunds, IP32 7AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0 Reducing Balance
Plant and Machinery 25 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2020 : 10).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Land and Buildings   Total
  £   £   £
At 01 October 2020 303,477    364,784    668,261 
Additions 4,696    -    4,696 
Disposals -    -    - 
At 30 September 2021 308,173    364,784    672,957 
Depreciation
At 01 October 2020 276,412    -    276,412 
Charge for year 7,940    -    7,940 
On disposals -    -    - 
At 30 September 2021 284,352    -    284,352 
Net book values
Closing balance as at 30 September 2021 23,821    364,784    388,605 
Opening balance as at 01 October 2020 27,065    364,784    391,849 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 October 2020 100    100 
Additions -    - 
Transfer to/from Tangible fixed assets -    - 
Disposals -    - 
At 30 September 2021 100    100 

5.

Stocks

2021
£		   2020
£
Stocks 3,500    3,500 
3,500    3,500 

6.

Debtors: amounts falling due within one year

2021
£		   2020
£
Trade Debtors 90,669    85,419 
90,669    85,419 

7.

Creditors: amount falling due within one year

2021
£		   2020
£
Trade Creditors 26,941    30,692 
Bank Loans & Overdrafts (Secured) 5,447    5,447 
Amounts Owed to Group Undertakings 100    100 
PAYE & Social Security 6,700    9,394 
Accrued Expenses -    1,500 
Other Creditors 3,664    - 
Directors' Current Accounts 769    826 
VAT 25,250    29,607 
68,871    77,566 

8.

Creditors: amount falling due after more than one year

2021
£		   2020
£
Bank Loans & Overdrafts (secured) 75,904    82,391 
Bank Loans & Overdrafts 48,435    50,000 
124,339    132,391 

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