Registered number
08793417
Mela Construction Limited
Filleted Accounts
30 November 2023
Mela Construction Limited
Registered number: 08793417
Balance Sheet
as at 30 November 2023
Notes 2023 2022
Restated
£ £
Fixed assets
Intangible assets 3 - 3,800
Tangible assets 4 914 29,888
Investments 5 255,000 270,315
255,914 304,003
Current assets
Stocks 100 200
Debtors 6 39,993 21,008
Cash at bank and in hand 62,963 20,026
103,056 41,234
Creditors: amounts falling due within one year 7 (62,675) (26,622)
Net current assets 40,381 14,612
Total assets less current liabilities 296,295 318,615
Creditors: amounts falling due after more than one year 8 (4,399) (7,223)
Net assets 291,896 311,392
Capital and reserves
Called up share capital 10 10
Profit and loss account 291,886 311,382
Shareholder's funds 291,896 311,392
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J J D Heil
Director
Approved by the board on 26 August 2024
Mela Construction Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 38,000
At 30 November 2023 38,000
Amortisation
At 1 December 2022 34,200
Provided during the year 3,800
At 30 November 2023 38,000
Net book value
At 30 November 2023 -
At 30 November 2022 3,800
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 8,030 47,750 55,780
Additions 632 - 632
Disposals - (37,750) (37,750)
At 30 November 2023 8,662 10,000 18,662
Depreciation
At 1 December 2022 6,454 19,438 25,892
Charge for the year 1,294 - 1,294
On disposals - (9,438) (9,438)
At 30 November 2023 7,748 10,000 17,748
Net book value
At 30 November 2023 914 - 914
At 30 November 2022 1,576 28,312 29,888
5 Investments
Other
investments
£
Cost
At 1 December 2022 270,315
Revaluation (15,315)
At 30 November 2023 255,000
6 Debtors 2023 2022
Restated
£ £
Trade debtors 36,793 552
Deferred tax asset 2,736 11,580
Other debtors 464 8,876
39,993 21,008
7 Creditors: amounts falling due within one year 2023 2022
Restated
£ £
Bank loans and overdrafts 2,836 2,764
Trade creditors 4,151 2,729
Taxation and social security costs 17,303 9,940
Other creditors 38,385 11,189
62,675 26,622
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 4,399 7,223
9 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr J J D Heil
Loan to director 7,966 - (7,966) -
Loan from director - (24,467) - (24,467)
7,966 (24,467) (7,966) (24,467)
A loan to the director was brought forward on which interest was charged at the official beneficial loan interest rate. This loan was repaid in the year and the director has now made an interest free loan to the company as detailed above.
10 Controlling party
The company is owned and controlled by its director, Mr J J D Heil.
11 Other information
Mela Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
Old Bank Building
East Street
Ilminster
TA19 0AJ
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