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Registration number: 12318863

Melody Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Melody Investments Ltd

Company Information

Directors

Mrs Asma Hatim Suterwalla

Mumtaz Hatim Suterwalla

Mr Hatim Taherally Suterwalla

Registered office

82 Sudbury Hill
Chasewood Park
Harrow
Middlesex
HA1 3YR

Accountants

Mehta & Tengra
9 Berners Place
London
W1T 3AD

 

Melody Investments Ltd

(Registration number: 12318863)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

21,976

29,302

Other financial assets

6

7,556,525

5,420,123

 

7,578,501

5,449,425

Current assets

 

Debtors

7

377

310

Cash at bank and in hand

 

1,191

2,038,812

 

1,568

2,039,122

Creditors: Amounts falling due within one year

8

(63,243)

(40,275)

Net current (liabilities)/assets

 

(61,675)

1,998,847

Total assets less current liabilities

 

7,516,826

7,448,272

Provisions for liabilities

(5,494)

-

Net assets

 

7,511,332

7,448,272

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

7,511,232

7,448,172

Shareholders' funds

 

7,511,332

7,448,272

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 December 2023 and signed on its behalf by:
 

.........................................
Mumtaz Hatim Suterwalla
Director

 

Melody Investments Ltd

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

7,448,172

7,448,272

Profit for the year

-

63,060

63,060

At 31 March 2023

100

7,511,232

7,511,332

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

100

7,267,628

7,267,728

Profit for the year

-

180,544

180,544

At 31 March 2022

100

7,448,172

7,448,272

 

Melody Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
82 Sudbury Hill
Chasewood Park
Harrow
Middlesex
HA1 3YR

These financial statements were authorised for issue by the Board on 20 December 2023.

2

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 of interest and dividend received and gains or loss from sale of securities.

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.

 

Melody Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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

Motor vehicles

25% on Written down value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

58,590

36,996

UK corporation tax adjustment to prior periods

5

6,481

58,595

43,477

Deferred taxation

Arising from changes in tax rates and laws

5,494

-

Tax expense in the income statement

64,089

43,477

Deferred tax

 

Melody Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

39,069

39,069

At 31 March 2023

39,069

39,069

Depreciation

At 1 April 2022

9,767

9,767

Charge for the year

7,326

7,326

At 31 March 2023

17,093

17,093

Carrying amount

At 31 March 2023

21,976

21,976

At 31 March 2022

29,302

29,302

6

Other financial assets (current and non-current)

Investments held with financial institutions
£

Unlisted investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

4,657,407

762,716

5,420,123

Additions

6,697,328

96,481

6,793,809

Disposals

(4,657,407)

-

(4,657,407)

At 31 March 2023

6,697,328

859,197

7,556,525

Impairment

Carrying amount

At 31 March 2023

6,697,328

859,197

7,556,525

7

Debtors

Current

2023
£

2022
£

Prepayments

377

310

 

377

310

 

Melody Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Corporation tax

55,029

36,196

Accruals and deferred income

6,360

3,180

Director's current account

1,854

899

63,243

40,275

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100