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No description of principal activity
2019-12-15
Sage Accounts Production Advanced 2020 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
00616779
2019-12-15
2020-12-14
00616779
2020-12-14
00616779
2019-12-14
00616779
2018-12-15
2019-12-14
00616779
2019-12-14
00616779
core:FurnitureFittings
2019-12-15
2020-12-14
00616779
core:MotorVehicles
2019-12-15
2020-12-14
00616779
bus:Director1
2019-12-15
2020-12-14
00616779
core:FurnitureFittings
2019-12-14
00616779
core:MotorVehicles
2019-12-14
00616779
core:LandBuildings
2020-12-14
00616779
core:FurnitureFittings
2020-12-14
00616779
core:MotorVehicles
2020-12-14
00616779
core:WithinOneYear
2020-12-14
00616779
core:WithinOneYear
2019-12-14
00616779
core:ShareCapital
2020-12-14
00616779
core:ShareCapital
2019-12-14
00616779
core:RetainedEarningsAccumulatedLosses
2020-12-14
00616779
core:RetainedEarningsAccumulatedLosses
2019-12-14
00616779
core:LandBuildings
2019-12-14
00616779
core:FurnitureFittings
2019-12-14
00616779
core:MotorVehicles
2019-12-14
00616779
bus:SmallEntities
2019-12-15
2020-12-14
00616779
bus:AuditExempt-NoAccountantsReport
2019-12-15
2020-12-14
00616779
bus:FullAccounts
2019-12-15
2020-12-14
00616779
bus:SmallCompaniesRegimeForAccounts
2019-12-15
2020-12-14
00616779
bus:PrivateLimitedCompanyLtd
2019-12-15
2020-12-14
00616779
core:LandBuildings
2019-12-15
2020-12-14
COMPANY REGISTRATION NUMBER:
00616779
Meyer Investments Limited
|
|
Filleted Unaudited Financial Statements
|
|
Meyer Investments Limited
|
|
Statement of Financial Position
|
|
14 December 2020
Fixed assets
Tangible assets
|
5
|
|
315,002
|
694,180
|
|
|
|
|
|
Current assets
Debtors
|
6
|
576
|
|
2,000
|
Cash at bank and in hand
|
8,335
|
|
8,824
|
|
-------
|
|
--------
|
|
8,911
|
|
10,824
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
40,293
|
|
28,447
|
|
--------
|
|
--------
|
Net current liabilities
|
|
31,382
|
17,623
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
283,620
|
676,557
|
|
|
---------
|
---------
|
Net assets
|
|
283,620
|
676,557
|
|
|
---------
|
---------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
300
|
300
|
Profit and loss account
|
|
283,320
|
676,257
|
|
|
---------
|
---------
|
Shareholders funds
|
|
283,620
|
676,557
|
|
|
---------
|
---------
|
|
|
|
|
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 statement of income and retained earnings has not been delivered.
For the year ending 14 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Meyer Investments Limited
|
|
Statement of Financial Position (continued)
|
|
14 December 2020
These financial statements were approved by the
board of directors
and authorised for issue on
16 August 2021
, and are signed on behalf of the board by:
Company registration number:
00616779
Meyer Investments Limited
|
|
Notes to the Financial Statements
|
|
Year ended 14 December 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Fifth Floor, 64 North Row, London, W1K 7DA.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents and services. 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.
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:
|
Fixtures and fittings
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
1
).
5.
Tangible assets
|
Land and buildings
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 15 December 2019 and 14 December 2020
|
694,178
|
900
|
1,250
|
696,328
|
|
---------
|
----
|
-------
|
---------
|
Depreciation
|
|
|
|
|
At 15 December 2019
|
–
|
899
|
1,249
|
2,148
|
Impairment losses
|
379,178
|
–
|
–
|
379,178
|
|
---------
|
----
|
-------
|
---------
|
At 14 December 2020
|
379,178
|
899
|
1,249
|
381,326
|
|
---------
|
----
|
-------
|
---------
|
Carrying amount
|
|
|
|
|
At 14 December 2020
|
315,000
|
1
|
1
|
315,002
|
|
---------
|
----
|
-------
|
---------
|
At 14 December 2019
|
694,178
|
1
|
1
|
694,180
|
|
---------
|
----
|
-------
|
---------
|
|
|
|
|
|
The managing director, who has many years experience in property markets, reviews the value of the properties each year based on commercial property market conditions. This year the properties were valued by an agent and the resulting diminution in value taken to the profit and loss account.
6.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
576
|
2,000
|
|
----
|
-------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
2,386
|
–
|
Social security and other taxes
|
1,610
|
1,590
|
Briman Properties Ltd
|
924
|
–
|
Other creditors
|
35,373
|
26,857
|
|
--------
|
--------
|
|
40,293
|
28,447
|
|
--------
|
--------
|
|
|
|
8.
Directors' advances, credits and guarantees
Included in other creditors are loans from directors of £21,932 (2019-£20,137)
9.
Related party transactions
The company was under the control of Mr Frydman throughout the current and previous year. Mr Frydman is the managing director and a shareholder. No transactions with related parties were undertaken such as are required to be disclosed.
10.