Company Registration No. 07638148 (England and Wales)
MELK LIMITED
Unaudited accounts
for the year ended 31 March 2023
MELK LIMITED
Unaudited accounts
Contents
MELK LIMITED
Company Information
for the year ended 31 March 2023
Directors
MRS S TAGHIZADEH
Mr S TAGHIZADEH
Company Number
07638148 (England and Wales)
Registered Office
6 CULL CLOSE
POOLE
BH12 5EG
ENGLAND
MELK LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
40,522
42,025
Investment property
2,647,398
2,412,708
Cash at bank and in hand
11,305
613,191
Creditors: amounts falling due within one year
(374,757)
(248,154)
Net current (liabilities)/assets
(360,038)
369,210
Total assets less current liabilities
2,327,882
2,823,943
Creditors: amounts falling due after more than one year
(976,844)
(1,493,077)
Provisions for liabilities
Deferred tax
(196,492)
(196,492)
Net assets
1,154,546
1,134,374
Called up share capital
100
100
Profit and loss account
1,154,446
1,134,274
Shareholders' funds
1,154,546
1,134,374
For the year ending 31 March 2023 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2023 and were signed on its behalf by
Mr S TAGHIZADEH
Director
Company Registration No. 07638148
MELK LIMITED
Notes to the Accounts
for the year ended 31 March 2023
MELK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07638148. The registered office is 6 CULL CLOSE, POOLE, BH12 5EG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
MELK LIMITED
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
36,016
36,948
4,662
77,626
At 31 March 2023
36,016
36,948
4,662
77,626
At 1 April 2022
-
31,406
4,195
35,601
Charge for the year
-
1,386
117
1,503
At 31 March 2023
-
32,792
4,312
37,104
At 31 March 2023
36,016
4,156
350
40,522
At 31 March 2022
36,016
5,542
467
42,025
Fair value at 1 April 2022
2,412,708
At 31 March 2023
2,647,398
The properties were valued by Symonds and Sampsons LLP (RICS) on 05 July 2022 and confirmed by the director on 31 March 2023. If investment properties had not been revalued, they would have been included at the cost of £1,149,928.
Amounts falling due within one year
Accrued income and prepayments
3,414
4,173
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
49,312
46,785
Taxes and social security
5,972
16,964
Other creditors
12,390
12,840
Loans from directors
225,853
170,785
MELK LIMITED
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
304,439
905,100
Other creditors
672,405
587,977
Bank loans are secured by fixed and floating charge over the undertakings and assets and in addition, are secured against the properties.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The company owed related parties £607,548 at year-end. Interest was charged at the market rate.
And received £31,519 of the management charges. All transactions were charged at market rate.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).