Meas Advisors Limited Filleted accounts for Companies House (small and micro)

MEAS ADVISORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11817390

MEAS ADVISORS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 February 2021

MEAS ADVISORS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2021

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

MEAS ADVISORS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	Mr H D Maclellan

Registered office	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

MEAS ADVISORS LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2021

	2021		2020
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,498		2,030

CURRENT ASSETS

Debtors	6	123	4,167
Cash at bank and in hand		35,731	35,757
		--------	--------
		35,854	39,924

CREDITORS: amounts falling due within one year	7	( 41,268)		( 40,720)
		--------		--------
NET CURRENT LIABILITIES			( 5,414)		( 796)
			-------		-------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 3,916)		1,234
			-------		-------
NET (LIABILITIES)/ASSETS			( 3,916)		1,234
			-------		-------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 4,016)	1,134
	-------	-------
SHAREHOLDER (DEFICIT)/FUNDS	( 3,916)	1,234
	-------	-------

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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MEAS ADVISORS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2021

These financial statements were approved by the board of directors and authorised for issue on 16 December 2021 , and are signed on behalf of the board by:

Mr H D Maclellan
Director

Company registration number: 11817390

MEAS ADVISORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.(a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2020: 1 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 March 2020 and 28 February 2021	2,128
	-------
Depreciation
At 1 March 2020	98
Charge for the year	532
	-------
At 28 February 2021	630
	-------
Carrying amount
At 28 February 2021	1,498
	-------
At 29 February 2020	2,030
	-------

6. Debtors

	2021	2020
	£	£
Other debtors	123	4,167
	----	-------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Corporation tax	3,936	4,902
Social security and other taxes	–	2,823
Other creditors	37,332	32,995
	--------	--------
	41,268	40,720
	--------	--------

8. Director's advances, credits and guarantees

At the balance sheet date the directors loan account was in credit by £32,082 (2020: £31,495). The loan is interest free and repayable on demand.