1 October 2021 false No description of principal activity Taxfiler 2023.14 10972558business:PrivateLimitedCompanyLtd2021-10-012022-04-30 109725582021-09-30 109725582021-10-012022-04-30 10972558business:AuditExemptWithAccountantsReport2021-10-012022-04-30 10972558business:FilletedAccounts2021-10-012022-04-30 109725582022-04-30 109725582021-09-30 10972558core:WithinOneYear2022-04-30 10972558core:WithinOneYear2021-09-30 10972558core:AfterOneYear2022-04-30 10972558core:AfterOneYear2021-09-30 10972558core:ShareCapitalcore:PreviouslyStatedAmount2022-04-30 10972558core:ShareCapitalcore:PreviouslyStatedAmount2021-09-30 10972558core:RevaluationReservecore:PreviouslyStatedAmount2022-04-30 10972558core:RevaluationReservecore:PreviouslyStatedAmount2021-09-30 10972558core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-04-30 10972558core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-09-30 10972558core:PreviouslyStatedAmount2022-04-30 10972558core:PreviouslyStatedAmount2021-09-30 10972558business:SmallEntities2021-10-012022-04-30 10972558business:Director12021-10-012022-04-30 10972558countries:EnglandWales2021-10-012022-04-30 10972558business:RegisteredOffice2021-10-012022-04-30 109725582020-10-012021-09-30 iso4217:GBP xbrli:pure
Company Registration No. 10972558 (England and Wales)
MED INVESTMENTS LTD Unaudited accounts for the period from 1 October 2021 to 30 April 2022
MED INVESTMENTS LTD Unaudited accounts Contents
Page
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MED INVESTMENTS LTD Statement of financial position as at 30 April 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Investment property
2,770,000 
2,600,000 
Current assets
Debtors
30,000 
30,000 
Cash at bank and in hand
9,690 
3,468 
39,690 
33,468 
Creditors: amounts falling due within one year
(157,131)
(32,735)
Net current (liabilities)/assets
(117,441)
733 
Total assets less current liabilities
2,652,559 
2,600,733 
Creditors: amounts falling due after more than one year
(2,508,973)
(2,534,926)
Provisions for liabilities
Other provisions
(1,152)
7,398 
Net assets
142,434 
73,205 
Capital and reserves
Called up share capital
3 
3 
Revaluation reserve
4,910 
(31,540)
Profit and loss account
137,521 
104,742 
Shareholders' funds
142,434 
73,205 
For the period ending 30 April 2022 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
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MED INVESTMENTS LTD Notes to the Accounts for the period from 1 October 2021 to 30 April 2022
1
Statutory information
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
4
Investment property
2022 
£ 
Fair value at 1 October 2021
2,600,000 
Additions
125,000 
Net gain from fair value adjustments
45,000 
At 30 April 2022
2,770,000 
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
30,000 
30,000 
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MED INVESTMENTS LTD Notes to the Accounts for the period from 1 October 2021 to 30 April 2022
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
109,398 
- 
Amounts owed to group undertakings and other participating interests
3,400 
2,000 
Taxes and social security
33,048 
22,690 
Accruals
11,285 
8,045 
157,131 
32,735 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
1,322,465 
1,327,638 
Loans from directors
1,186,508 
1,207,288 
2,508,973 
2,534,926 
8
Average number of employees
During the period the average number of employees was 0 (2021: 0).
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