IRIS Accounts Production v23.2.0.158 02198604 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021986042022-07-31021986042023-07-31021986042022-08-012023-07-31021986042021-07-31021986042021-08-012022-07-31021986042022-07-3102198604ns10:Originalns15:EnglandWales2022-08-012023-07-3102198604ns14:PoundSterlingns10:Original2022-08-012023-07-3102198604ns10:Originalns10:Director12022-08-012023-07-3102198604ns10:Original2022-08-012023-07-3102198604ns10:Original2023-07-3102198604ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3102198604ns10:Originalns10:SmallEntities2022-08-012023-07-3102198604ns10:Originalns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3102198604ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3102198604ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3102198604ns10:Originalns10:FullAccounts2022-08-012023-07-3102198604ns10:Originalns10:Director22022-08-012023-07-3102198604ns10:Originalns10:RegisteredOffice2022-08-012023-07-3102198604ns10:Original2022-07-3102198604ns10:Originalns5:CurrentFinancialInstruments2023-07-3102198604ns10:Originalns5:CurrentFinancialInstruments2022-07-3102198604ns10:Originalns5:Non-currentFinancialInstruments2023-07-3102198604ns10:Originalns5:Non-currentFinancialInstruments2022-07-3102198604ns5:ShareCapitalns10:Original2023-07-3102198604ns5:ShareCapitalns10:Original2022-07-3102198604ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-07-3102198604ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-07-3102198604ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3102198604ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3102198604ns10:Original2021-08-012022-07-3102198604ns10:Original2022-07-3102198604ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-07-3102198604ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-07-3102198604ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3102198604ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-07-3102198604ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-08-012023-07-31
REGISTERED NUMBER: 02198604 (England and Wales)















Unaudited Financial Statements For The Year Ended 31 July 2023

for

Medon Limited

Medon Limited (Registered number: 02198604)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Medon Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: R S Neufeld
N Neufeld





REGISTERED OFFICE: Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE





REGISTERED NUMBER: 02198604 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Medon Limited (Registered number: 02198604)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,825,000 1,825,000

CURRENT ASSETS
Debtors 5 4,229 2,516
Cash at bank 52,026 30,122
56,255 32,638
CREDITORS
Amounts falling due within one year 6 112,780 111,731
NET CURRENT LIABILITIES (56,525 ) (79,093 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,768,475

1,745,907

CREDITORS
Amounts falling due after more than one
year

7

(22,560

)

(26,229

)

PROVISIONS FOR LIABILITIES (209,950 ) (209,950 )
NET ASSETS 1,535,965 1,509,728

CAPITAL AND RESERVES
Called up share capital 400,150 400,150
Fair value reserve 8 895,050 895,050
Retained earnings 8 240,765 214,528
1,535,965 1,509,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Medon Limited (Registered number: 02198604)

Balance Sheet - continued
31 July 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





N Neufeld - Director


Medon Limited (Registered number: 02198604)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Medon Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and is recognised as rents fall due.

Investment property
Investment property is initially measured at cost when purchased. Thereafter it is shown at most recent valuation carried out by independent, qualified, third parties. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement and retained earnings carried forward.

Taxation
Taxation represents the sum of tax currently payable, and deferred tax if material.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax, where material, is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Medon Limited (Registered number: 02198604)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 1,825,000
NET BOOK VALUE
At 31 July 2023 1,825,000
At 31 July 2022 1,825,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2017 1,300,000
Valuation in 2020 525,000
1,825,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Other debtors 4,229 2,516

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 4,560 4,680
Corporation tax 10,648 12,931
Directors' current accounts 96,022 92,570
Accrued expenses 1,550 1,550
112,780 111,731

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 22,560 26,229

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2022 214,528 895,050 1,109,578
Profit for the year 44,737 44,737
Dividends (18,500 ) (18,500 )
At 31 July 2023 240,765 895,050 1,135,815