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COMPANY REGISTRATION NUMBER: 05671738
MELSIS CREATIONS LIMITED
Unaudited Financial Statements
31 January 2024
MELSIS CREATIONS LIMITED
Financial Statements
Year ended 31 January 2024
Contents
Pages
Directors' report
1
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5 to 7
MELSIS CREATIONS LIMITED
Directors' Report
Year ended 31 January 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 January 2024 .
Directors
The directors who served the company during the year were as follows:
S Shahidi
F Faizabadi
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 19 April 2024 and signed on behalf of the board by:
S Shahidi
Director
Registered office:
42 Eelbrook Avenue
Bradwell Common
Milton Keynes
MK13 8RA
MELSIS CREATIONS LIMITED
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of MELSIS CREATIONS LIMITED
Year ended 31 January 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 January 2024, which comprise the statement of income and retained earnings, statement of financial position and the 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 financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BRADSHAW GOLD LTD Accountants
42 Kenilworth Drive Milton Keynes MK3 6AQ
19 April 2024
MELSIS CREATIONS LIMITED
Statement of Income and Retained Earnings
Year ended 31 January 2024
2024
2023
Note
£
£
Turnover
3,390
3,207
Cost of sales
1,588
1,927
-------
-------
Gross profit
1,802
1,280
Administrative expenses
1,565
1,484
-------
-------
Operating profit/(loss)
237
( 204)
-------
-------
Profit/(loss) before taxation
4
237
( 204)
Tax on profit/(loss)
54
----
----
Profit/(loss) for the financial year and total comprehensive income
183
( 204)
----
----
Retained losses at the start of the year
( 1,415)
( 1,211)
-------
-------
Retained losses at the end of the year
( 1,232)
( 1,415)
-------
-------
All the activities of the company are from continuing operations.
MELSIS CREATIONS LIMITED
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
654
770
Current assets
Cash at bank and in hand
6,110
5,025
Creditors: amounts falling due within one year
6
7,896
7,110
-------
-------
Net current liabilities
1,786
2,085
-------
-------
Total assets less current liabilities
( 1,132)
( 1,315)
-------
-------
Net liabilities
( 1,132)
( 1,315)
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 1,232)
( 1,415)
-------
-------
Shareholders deficit
( 1,132)
( 1,315)
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
S Shahidi
Director
Company registration number: 05671738
MELSIS CREATIONS LIMITED
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Eelbrook Avenue, Bradwell Common, Milton Keynes, MK13 8RA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Impairment of fixed assets
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.
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
116
136
----
----
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2023 and 31 January 2024
6,264
6,264
-------
-------
Depreciation
At 1 February 2023
5,494
5,494
Charge for the year
116
116
-------
-------
At 31 January 2024
5,610
5,610
-------
-------
Carrying amount
At 31 January 2024
654
654
-------
-------
At 31 January 2023
770
770
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
373
373
Corporation tax
55
Director loan accounts
7,468
6,737
-------
-------
7,896
7,110
-------
-------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
S Shahidi
( 6,737)
( 731)
( 7,468)
-------
----
----
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
S Shahidi
( 6,845)
108
( 6,737)
-------
----
----
-------