Registration number:
Medalion Ltd
for the Year Ended 30 November 2023
Medalion Ltd
Contents
Statement of Financial Position |
|
Notes to the Unaudited Financial Statements |
Medalion Ltd
(Registration number: SC681892)
Statement of Financial Position as at 30 November 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Cash at bank and in hand |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
10 |
10 |
|
Retained earnings |
9,804 |
6,826 |
|
Shareholders' funds |
9,814 |
6,836 |
For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
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 Income Statement.
Approved and authorised by the
......................................... |
Medalion Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The Company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
Scotland
The principal place of business is:
Mansfield
Auchterhouse
Dundee
DD3 0QS
These financial statements were authorised for issue by the
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.
The financial statements have been prepared in sterling which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis.
Medalion Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
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.
Tax
The tax expense for the period comprises current 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.
Tangible assets
Tangible assets are stated in the statement of financial position 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 |
Office equipment |
20% reducing balance |
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.
Medalion Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Financial instruments
Classification
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Medalion Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 December 2022 |
|
|
At 30 November 2023 |
|
|
Depreciation |
||
At 1 December 2022 |
|
|
Charge for the year |
|
|
At 30 November 2023 |
|
|
Carrying amount |
||
At 30 November 2023 |
|
|
At 30 November 2022 |
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Dividends |
Final dividends paid
Medalion Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
2023 |
2022 |
|||
Final dividend of £ |
|
|
||
Final dividend of £ |
|
|
||
Final dividend of £ |
|
|
||
Final dividend of £ |
|
|
||
Final dividend of £ |
|
|
||
|
|