Caseware UK (AP4) 2019.0.227 2019.0.227 2020-03-31 2020-03-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. false 2019-04-01 No description of principal activity 10 7 true true 05000418 2019-04-01 2020-03-31 05000418 2020-03-31 05000418 2018-04-01 2019-03-31 05000418 2019-03-31 05000418 c:CompanySecretary1 2019-04-01 2020-03-31 05000418 c:Director1 2019-04-01 2020-03-31 05000418 c:Director2 2019-04-01 2020-03-31 05000418 c:RegisteredOffice 2019-04-01 2020-03-31 05000418 d:OfficeEquipment 2019-04-01 2020-03-31 05000418 d:OfficeEquipment 2020-03-31 05000418 d:OfficeEquipment 2019-03-31 05000418 d:OfficeEquipment d:OwnedOrFreeholdAssets 2019-04-01 2020-03-31 05000418 d:OtherPropertyPlantEquipment 2019-04-01 2020-03-31 05000418 d:OtherPropertyPlantEquipment 2020-03-31 05000418 d:OtherPropertyPlantEquipment 2019-03-31 05000418 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2019-04-01 2020-03-31 05000418 d:OwnedOrFreeholdAssets 2019-04-01 2020-03-31 05000418 d:ComputerSoftware 2020-03-31 05000418 d:ComputerSoftware 2019-03-31 05000418 d:CurrentFinancialInstruments 2020-03-31 05000418 d:CurrentFinancialInstruments 2019-03-31 05000418 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 05000418 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 05000418 d:ShareCapital 2020-03-31 05000418 d:ShareCapital 2019-03-31 05000418 d:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 05000418 d:RetainedEarningsAccumulatedLosses 2020-03-31 05000418 d:RetainedEarningsAccumulatedLosses 2019-03-31 05000418 c:FRS102 2019-04-01 2020-03-31 05000418 c:AuditExempt-NoAccountantsReport 2019-04-01 2020-03-31 05000418 c:FullAccounts 2019-04-01 2020-03-31 05000418 c:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31 05000418 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2019-04-01 2020-03-31 05000418 d:ComputerSoftware d:OwnedIntangibleAssets 2019-04-01 2020-03-31 iso4217:GBP xbrli:pure
Company registration number: 







UNAUDITED  FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2020


MEACO (U.K.) LIMITED






































img6355.png                         

 


MEACO (U.K.) LIMITED
 


 
COMPANY INFORMATION


C G Michael  
M C Michael  




C G Michael



05000418



Meaco House Parklands
Railton Road

Guildford

Surrey

GU2 9JX




Menzies LLP
Chartered Accountants

1st Floor

Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ





 


MEACO (U.K.) LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


MEACO (U.K.) LIMITED
REGISTERED NUMBER: 05000418



STATEMENT OF FINANCIAL POSITION
AS AT  31 MARCH 2020

2020
2019
Note
£
£
   

Intangible assets
 4 
6,407
2,625

Tangible assets
 5 
38,135
17,724

   
44,542
20,349

Current assets
   

Stocks
   
1,476,547
1,530,279

Debtors: amounts falling due within one year
 6 
4,968,790
1,148,542

Cash at bank and in hand
   
3,683,278
1,337,055

   
10,128,615
4,015,876

Creditors: amounts falling due within one year
 7 
(5,989,222 )
(1,131,395 )

Net current assets
   
 
 
4,139,393
 
 
2,884,481

Total assets less current liabilities
   
4,183,935
2,904,830

Provisions for liabilities
   

Deferred tax
   
(7,847 )
-

   
 
 
(7,847 )
 
 
-

Net assets
   
4,176,088
2,904,830

Capital and reserves
   

Called up share capital 
   
100
100

Profit and loss account
 8 
4,175,988
2,904,730

   
4,176,088
2,904,830


Page 1

 


MEACO (U.K.) LIMITED
REGISTERED NUMBER: 05000418


    
STATEMENT OF FINANCIAL POSITION  (CONTINUED)
AS AT  31 MARCH 2020

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 statement of income and retained earnings 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 on  19 November 2020 .




C G Michael
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


MEACO (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

General information

The financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable to the UK and the Republic of Ireland'.
Meaco (U.K.) Limited is a private company limited by shares, incorporate and domiciled in the United Kingdom. The company discloses its registered office on the company information page. This address is also its principal place of business.
The principal activity of the company is the provision and servicing of dehumidifiers. 

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings  except when deferred in other comprehensive income as qualifying cash flow hedges.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Page 3

 


MEACO (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

2. Accounting policies (continued)

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation

Depreciation is provided at rates to calculated to write off the cost of fixed assets, less their residual values, over their expected useful lives on the following bases:

Other fixed assets
-
25% reducing balance

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

The average monthly number of employees, including directors, during the year was  10  (2019 -  7 ) .

Page 4

 


MEACO (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




£



Cost


At 1 April 2019
3,000


Additions
4,513



At 31 March 2020

7,513



Amortisation


At 1 April 2019
375


Charge for the year
731



At 31 March 2020

1,106



Net book value



At 31 March 2020
6,407



At 31 March 2019
2,625

Page 5

 


MEACO (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Office equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2019
12,866
19,461
32,327


Additions
10,405
18,905
29,310



At 31 March 2020

23,271
38,366
61,637



Depreciation


At 1 April 2019
248
14,355
14,603


Charge for the year on owned assets
4,077
4,822
8,899



At 31 March 2020

4,325
19,177
23,502



Net book value



At 31 March 2020
18,946
19,189
38,135



At 31 March 2019
12,618
5,106
17,724

Page 6

 


MEACO (U.K.) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2020
2019
£
£


Trade debtors
1,505,900
587,225

Other debtors
398
-

Prepayments and accrued income
3,462,492
521,588

Deferred taxation
-
39,729

4,968,790
1,148,542


2020
2019
£
£

Bank overdrafts
-
119

Bank loans
-
7,750

Trade creditors
4,621,417
82,026

Corporation tax
267,221
-

Other taxation and social security
30,580
126,724

Other creditors
688,916
883,653

Accruals and deferred income
381,088
31,123

5,989,222
1,131,395



Reserves

Profit and loss account

This reserve records retained profits and accumulated losses. 


Pension commitments

The company operates a defined contribution plan scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions by the company to the fund and amounted to £143,866 (2019: £102,901).

 
Page 7