Company Registration No. 10972558 (England and Wales)
MED INVESTMENTS LTD
Unaudited accounts
for the year ended 30 April 2023
MED INVESTMENTS LTD
Unaudited accounts
Contents
MED INVESTMENTS LTD
Statement of financial position
as at 30 April 2023
Investment property
2,895,000
2,770,000
Cash at bank and in hand
7,078
9,690
Creditors: amounts falling due within one year
(171,028)
(157,131)
Net current liabilities
(133,950)
(117,441)
Total assets less current liabilities
2,761,050
2,652,559
Creditors: amounts falling due after more than one year
(2,457,414)
(2,508,973)
Provisions for liabilities
Other provisions
(24,902)
(1,152)
Net assets
278,734
142,434
Called up share capital
3
3
Revaluation reserve
106,160
4,910
Profit and loss account
172,571
137,521
Shareholders' funds
278,734
142,434
For the year ending 30 April 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 director acknowledges his 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 and authorised for issue on 8 March 2024 and were signed on its behalf by
Ali Has
Director
Company Registration No. 10972558
MED INVESTMENTS LTD
Notes to the Accounts
for the year ended 30 April 2023
MED INVESTMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 10972558. The registered office is 60 Mill Mead Business Centre, Mill Mead Road, London, N17 9QU, United Kingdom.
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.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
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.
Fair value at 1 May 2022
2,770,000
Net gain from fair value adjustments
125,000
At 30 April 2023
2,895,000
Amounts falling due within one year
Amounts due from group undertakings etc.
30,000
30,000
MED INVESTMENTS LTD
Notes to the Accounts
for the year ended 30 April 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
109,398
109,398
Amounts owed to group undertakings and other participating interests
3,400
3,400
Taxes and social security
41,270
33,048
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,304,465
1,322,465
Loans from directors
1,152,949
1,186,508
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).