ACCOUNTS - Final Accounts

MEADOWBROOK DEVELOPMENTS LIMITED - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-30truetrue2022-05-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05417360 2022-05-01 2023-04-30 05417360 2021-05-01 2022-04-30 05417360 2023-04-30 05417360 2022-04-30 05417360 c:CompanySecretary1 2022-05-01 2023-04-30 05417360 c:Director1 2022-05-01 2023-04-30 05417360 c:Director2 2022-05-01 2023-04-30 05417360 c:RegisteredOffice 2022-05-01 2023-04-30 05417360 d:CurrentFinancialInstruments 2023-04-30 05417360 d:CurrentFinancialInstruments 2022-04-30 05417360 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 05417360 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 05417360 d:ShareCapital 2023-04-30 05417360 d:ShareCapital 2022-04-30 05417360 d:RetainedEarningsAccumulatedLosses 2023-04-30 05417360 d:RetainedEarningsAccumulatedLosses 2022-04-30 05417360 c:OrdinaryShareClass1 2022-05-01 2023-04-30 05417360 c:OrdinaryShareClass1 2023-04-30 05417360 c:OrdinaryShareClass1 2022-04-30 05417360 c:FRS102 2022-05-01 2023-04-30 05417360 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 05417360 c:FullAccounts 2022-05-01 2023-04-30 05417360 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05417360 6 2022-05-01 2023-04-30 05417360 e:PoundSterling 2022-05-01 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05417360

MEADOWBROOK DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

MEADOWBROOK DEVELOPMENTS LIMITED

CONTENTS

	Page
Company information	1
Balance sheet	2 - 3
Notes to the financial statements	4 - 8

MEADOWBROOK DEVELOPMENTS LIMITED

COMPANY INFORMATION

Directors	P Stewart
	C Stewart


Company secretary	P Stewart


Registered number	05417360


Registered office	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH


Accountants	Blick Rothenberg Limited
	Chartered Accountants
	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH

Page 1

REGISTERED NUMBER:05417360

MEADOWBROOK DEVELOPMENTS LIMITED

BALANCE SHEET

AS AT 30 APRIL 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		100		100
Current assets
Stocks		896,500		896,500
Debtors: amounts falling due within one year	5	2,421,641		2,405,606
Cash at bank and in hand		5,754		15,957
		3,323,895		3,318,063
Creditors: amounts falling due within one year	6	(4,056,342)		(4,046,355)
Net current liabilities			(732,447)		(728,292)
Net liabilities			(732,347)		(728,192)

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		(732,349)	(728,194)
Total deficit		(732,347)	(728,192)

Page 2

REGISTERED NUMBER:05417360

MEADOWBROOK DEVELOPMENTS LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P Stewart

Director

Date: 29 April 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

MEADOWBROOK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

1.	General information

Meadowbrook Developments Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 16 Great Queen Street, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
The financial statements present information about the company as an individual entity and not about ts group.

2.3

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

2.4

Taxation

The tax expense for the year comprises current tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

MEADOWBROOK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.8

Share capital

Ordinary shares are classified as equity.

2.9

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 5

MEADOWBROOK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 2 (2022: 2).

Page 6

MEADOWBROOK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 May 2022	100
	At 30 April 2023	100

Debtors

					2023	2022
					£	£

Trade debtors	263	1,448
Amounts owed by group undertakings	2,420,876	2,403,632
Other debtors	88	189
Prepayments and accrued income	414	337
	2,421,641	2,405,606

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	5,556	9,146
Other creditors	4,045,586	4,033,009
Accruals and deferred income	5,200	4,200
	4,056,342	4,046,355

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

2 (2022 - 2) Ordinary shares of £1.00 each	2	2

Page 7

MEADOWBROOK DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

8.	Related party transactions
	The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. At the balance sheet date, the company was owed £2,587,420 (2022: £2,588,562) by its wholly-owned subsidary. A provision of £166,544 (2022: £184,930) has been made against this balance.

Page 8