Company Registration No. 10163819 (England and Wales)
MEAD TECH LTD
Unaudited accounts
for the year ended 31 May 2022
MEAD TECH LTD
Unaudited accounts
Contents
MEAD TECH LTD
Company Information
for the year ended 31 May 2022
Directors
Rebecca Wise
Ryan Wise
Company Number
10163819 (England and Wales)
Registered Office
Copper Beaches Salisbury Road
Abbotts Ann
Andover
Hampshire
SP11 7NX
England
Accountants
Green Zebra Business Solutions Ltd
Copper Beeches
Salisbury Road
Abbotts Ann
Hampshire
SP11 7NX
MEAD TECH LTD
Statement of financial position
as at 31 May 2022
Cash at bank and in hand
25,220
32,794
Creditors: amounts falling due within one year
(3,655)
(33,394)
Net current assets/(liabilities)
21,848
(317)
Total assets less current liabilities
22,170
469
Creditors: amounts falling due after more than one year
(20,316)
-
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
1,693
220
Shareholders' funds
1,793
320
For the year ending 31 May 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2023 and were signed on its behalf by
Rebecca Wise
Director
Company Registration No. 10163819
MEAD TECH LTD
Notes to the Accounts
for the year ended 31 May 2022
MEAD TECH LTD is a private company, limited by shares, registered in England and Wales, registration number 10163819. The registered office is Copper Beaches Salisbury Road, Abbotts Ann, Andover, Hampshire, SP11 7NX, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing balance
Computer equipment
33% Straight line basis
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MEAD TECH LTD
Notes to the Accounts
for the year ended 31 May 2022
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2021
525
6,448
6,973
At 31 May 2022
525
6,448
6,973
At 1 June 2021
189
5,998
6,187
Charge for the year
67
397
464
At 31 May 2022
256
6,395
6,651
At 31 May 2021
336
450
786
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
6,884
34,000
Trade creditors
2,170
(79)
Taxes and social security
10,360
12,567
Loans from directors
(15,759)
(13,094)
7
Creditors: amounts falling due after more than one year
2022
2021
At the year end, directors owed £15,759 to the company, which was repaid after the year end.
9
Average number of employees
During the year the average number of employees was 2 (2021: 1).
