1 July 2021 v2022.13.1 limited_company_frs_102_section_1a_v1_0_8 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP082873632021-07-012022-06-30082873632022-06-30082873632021-06-3008287363core:WithinOneYear2022-06-3008287363core:WithinOneYear2021-06-3008287363core:ShareCapital2022-06-3008287363core:ShareCapital2021-06-3008287363core:RetainedEarningsAccumulatedLosses2022-06-3008287363core:RetainedEarningsAccumulatedLosses2021-06-3008287363bus:Director12021-07-012022-06-3008287363bus:RegisteredOffice2021-07-012022-06-3008287363core:NetGoodwill2021-07-012022-06-3008287363core:FurnitureFittings2021-07-012022-06-3008287363core:LandBuildings2021-07-012022-06-30082873632021-01-012021-06-3008287363core:NetGoodwill2022-06-3008287363core:NetGoodwill2021-07-0108287363core:NetGoodwill2021-06-3008287363core:PlantMachinery2022-06-3008287363core:PlantMachinery2021-07-0108287363core:PlantMachinery2021-07-012022-06-3008287363core:PlantMachinery2021-06-3008287363core:CostValuation2021-07-0108287363core:CostValuation2022-06-300828736312021-07-012022-06-3008287363countries:EnglandWales2021-07-012022-06-3008287363bus:AuditExemptWithAccountantsReport2021-07-012022-06-3008287363bus:PrivateLimitedCompanyLtd2021-07-012022-06-3008287363bus:SmallEntities2021-07-012022-06-3008287363bus:FullAccounts2021-07-012022-06-30
Company registration number:
08287363
Melo World Ltd
Unaudited Filleted Financial Statements for the year ended
30 June 2022
Woods & Cooper
Chartered Accountants and Chartered Tax Advisers
23 Farnworth Street, Widnes, Cheshire, WA8 9LH, United Kingdom
Melo World Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Melo World Ltd
Year ended
30 June 2022
As described on the statement of financial position, the Board of Directors of
Melo World Ltd
are responsible for the preparation of the
financial statements
for the year ended
30 June 2022
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Woods & Cooper
Chartered Accountants and Chartered Tax Advisers
23 Farnworth Street
Widnes
Cheshire
WA8 9LH
United Kingdom
Date:
7 September 2022
Melo World Ltd
Statement of Financial Position
30 June 2022
20222021
Note££
Fixed assets    
Intangible assets 5
99,300
 
99,900
 
Tangible assets 6
4,272
 
11,989
 
Investments 7
(63,714
)
(63,714
)
39,858
 
48,175
 
Current assets    
Stocks
41,638
 
35,419
 
Debtors 8
164,774
 
167,025
 
Cash at bank and in hand
(18,354
)
4,916
 
188,058
 
207,360
 
Creditors: amounts falling due within one year 9
(227,359
)
(286,089
)
Net current liabilities
(39,301
)
(78,729
)
Total assets less current liabilities 557   (30,554 )
Capital and reserves    
Called up share capital
50,000
 
50,000
 
Profit and loss account
(49,443
)
(80,554
)
Shareholders funds/(deficit)
557
 
(30,554
)
For the year ending
30 June 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
7 September 2022
, and are signed on behalf of the board by:
Filip Hudzik
Director
Company registration number:
08287363
Melo World Ltd
Notes to the Financial Statements
Year ended
30 June 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
23 Farnworth Street
,
Widnes
,
Cheshire
,
WA8 9LH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; 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.

Current tax

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.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
20% straight line
Land and buildings
Straight line over 10 years

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
4
(2021:
4
).

5 Intangible assets

Goodwill
£
Cost  
At
1 July 2021
and
30 June 2022
115,145
 
Amortisation  
At
1 July 2021
15,245
 
Charge
600
 
At
30 June 2022
15,845
 
Carrying amount  
At
30 June 2022
99,300
 
At 30 June 2021
99,900
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2021
and
30 June 2022
71,009
 
Depreciation  
At
1 July 2021
59,020
 
Charge
7,717
 
At
30 June 2022
66,737
 
Carrying amount  
At
30 June 2022
4,272
 
At 30 June 2021
11,989
 

7 Investments

Other investments
£
Cost  
At
1 July 2021
(63,714
)
At
30 June 2022
(63,714
)
Impairment  
At
1 July 2021
and
30 June 2022
-  
Carrying amount  
At
30 June 2022
(63,714
)
At 30 June 2021
(63,714
)

8 Debtors

20222021
££
Trade debtors
28,331
 
57,095
 
Other debtors
136,443
 
109,930
 
164,774
 
167,025
 

9 Creditors: amounts falling due within one year

20222021
££
Bank loans and overdrafts
48,000
 
85,639
 
Trade creditors
121,906
 
101,136
 
Taxation and social security
36,438
 
37,628
 
Other creditors
21,015
 
61,686
 
227,359
 
286,089