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Registration number: 14549056

Mel Kale Ltd

Unaudited Filleted Financial Statements

for the Period from 19 December 2022 to 31 December 2023

 

Mel Kale Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mel Kale Ltd

Company Information

Director

Miss M Kamalvand

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Mel Kale Ltd

(Registration number: 14549056)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Tangible assets

3

2,687

Current assets

 

Debtors

4

3,508

Cash at bank and in hand

 

38,512

 

42,020

Creditors: Amounts falling due within one year

5

(19,733)

Net current assets

 

22,287

Total assets less current liabilities

 

24,974

Creditors: Amounts falling due after more than one year

5

(439)

Provisions for liabilities

(511)

Net assets

 

24,024

Capital and reserves

 

Called up share capital

6

20

Retained earnings

24,004

Shareholders' funds

 

24,024

For the financial period ending 31 December 2023 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 accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 April 2024
 

.........................................
Miss M Kamalvand
Director

 

Mel Kale Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 December 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mel Kale Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Reducing Balance

Office Equipment

25% Reducing Balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Mel Kale Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 December 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Mel Kale Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 December 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

3,281

3,281

At 31 December 2023

3,281

3,281

Depreciation

Charge for the period

594

594

At 31 December 2023

594

594

Carrying amount

At 31 December 2023

2,687

2,687

4

Debtors

Current

2023
£

Prepayments

3,128

Other debtors

380

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Bank loans and overdrafts

7

584

Trade creditors

 

200

Taxation and social security

 

45

Other creditors

 

18,904

 

19,733

Creditors: amounts falling due after more than one year

Note

2023
£

Due after one year

 

Loans and borrowings

7

439

 

Mel Kale Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 December 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

10

10

Ordinary A of £1 each

10

10

 

20

20

7

Loans and borrowings

2023
£

Non-current loans and borrowings

Other borrowings

439

2023
£

Current loans and borrowings

Other borrowings

584

8

Related party transactions

Transactions with the director

2023

At 19 December 2022
£

Repayments by director
£

At 31 December 2023
£

Miss M Kamalvand

No interest is charged on the loan and there is no fixed date of repayment

-

3,980

3,980