ME&DAVE LIMITED

2022-08-012023-07-312023-07-31false06325879ME&DAVE 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ME&DAVE LIMITED

Registered Number
06325879
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

ME&DAVE LIMITED

Company Information
for the year from 1 August 2022 to 31 July 2023


Director	M Davis


Company Secretary	AURIA ACCOUNTANCY LIMITED


Registered Address	C/O Auria
	48 Warwick Street
	London
	W1B 5AW


Registered Number	06325879 (England and Wales)

ME&DAVE LIMITED

Balance Sheet as at
31 July 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	6		26,534		19,070
			26,534		19,070
Current assets
Debtors	7	415,954		384,255
Cash at bank and on hand		129,681		165,215
		545,635		549,470
Creditors amounts falling due within one year	8	(370,977)		(155,759)
Net current assets (liabilities)			174,658		393,711
Total assets less current liabilities			201,192		412,781
Net assets			201,192		412,781
Capital and reserves
Called up share capital			100		100
Profit and loss account			201,092		412,681
Shareholders' funds			201,192		412,781

The company was entitled to exemption from audit for this reporting period 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 Director acknowledges 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. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Director on 21 March 2024, and are signed on its behalf by:

M Davis
Director
Registered Company No. 06325879

ME&DAVE LIMITED

Notes to the Financial Statements
for the year ended 31 July 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Compliance with applicable reporting framework
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3.	Principal activities
	The principal activity of the company continued to be that of design and marketing consultancy.

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	4
	Fixtures and fittings	4
	Office Equipment	4

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Taxation policy
	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.

	Foreign currency translation and operations policy
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation and operations policy

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

5.	Employee information


		2023		2022
	Average number of employees during the year	11		11

6.	Property, plant and equipment

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 August 22	15,259	22,557	73,817	111,633
Additions	3,450	969	13,355	17,774
At 31 July 23	18,709	23,526	87,172	129,407
Depreciation and impairment
At 01 August 22	8,758	20,181	63,624	92,563
Charge for year	3,452	1,217	5,641	10,310
At 31 July 23	12,210	21,398	69,265	102,873
Net book value
At 31 July 23	6,499	2,128	17,907	26,534
At 31 July 22	6,501	2,376	10,193	19,070

7.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	386,593	347,876
Other debtors	29,361	29,362
Prepayments and accrued income	-	7,017
Total	415,954	384,255


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

8.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	54,103	30,716
Taxation and social security	80,697	88,417
Other creditors	227,140	34,377
Accrued liabilities and deferred income	9,037	2,249
Total	370,977	155,759


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.