Silverfin false false 31/10/2023 01/11/2022 31/10/2023 C J A Porter 01/10/1984 31 August 2024 The principal activity of the company is record production. 01851625 2023-10-31 01851625 bus:Director1 2023-10-31 01851625 2022-10-31 01851625 core:CurrentFinancialInstruments 2023-10-31 01851625 core:CurrentFinancialInstruments 2022-10-31 01851625 core:ShareCapital 2023-10-31 01851625 core:ShareCapital 2022-10-31 01851625 core:RetainedEarningsAccumulatedLosses 2023-10-31 01851625 core:RetainedEarningsAccumulatedLosses 2022-10-31 01851625 core:LeaseholdImprovements 2022-10-31 01851625 core:PlantMachinery 2022-10-31 01851625 core:FurnitureFittings 2022-10-31 01851625 core:LeaseholdImprovements 2023-10-31 01851625 core:PlantMachinery 2023-10-31 01851625 core:FurnitureFittings 2023-10-31 01851625 bus:OrdinaryShareClass1 2023-10-31 01851625 2022-11-01 2023-10-31 01851625 bus:FilletedAccounts 2022-11-01 2023-10-31 01851625 bus:SmallEntities 2022-11-01 2023-10-31 01851625 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 01851625 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01851625 bus:Director1 2022-11-01 2023-10-31 01851625 core:LeaseholdImprovements core:TopRangeValue 2022-11-01 2023-10-31 01851625 core:PlantMachinery 2022-11-01 2023-10-31 01851625 core:FurnitureFittings 2022-11-01 2023-10-31 01851625 2021-11-01 2022-10-31 01851625 core:LeaseholdImprovements 2022-11-01 2023-10-31 01851625 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 01851625 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01851625 (England and Wales)

MEDALTAPE LTD

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

MEDALTAPE LTD

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

MEDALTAPE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 October 2023
MEDALTAPE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 106,429 122,405
Investment property 4 390,000 390,000
496,429 512,405
Current assets
Debtors 5 17,032 16,870
Cash at bank and in hand 6 19,817 12,414
36,849 29,284
Creditors: amounts falling due within one year 7 ( 22,587) ( 68,675)
Net current assets/(liabilities) 14,262 (39,391)
Total assets less current liabilities 510,691 473,014
Net assets 510,691 473,014
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 510,591 472,914
Total shareholders' funds 510,691 473,014

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Medaltape Ltd (registered number: 01851625) were approved and authorised for issue by the Director. They were signed on its behalf by:

C J A Porter
Director

31 August 2024

MEDALTAPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
MEDALTAPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Medaltape Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 2

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 November 2022 55,061 157,650 68,444 281,155
At 31 October 2023 55,061 157,650 68,444 281,155
Accumulated depreciation
At 01 November 2022 14,684 120,033 24,033 158,750
Charge for the financial year 3,671 5,643 6,662 15,976
At 31 October 2023 18,355 125,676 30,695 174,726
Net book value
At 31 October 2023 36,706 31,974 37,749 106,429
At 31 October 2022 40,377 37,617 44,411 122,405

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 390,000
As at 31 October 2023 390,000

Valuation

The 2023 valuation was made by the director on an open market value for existing use basis.

5. Debtors

2023 2022
£ £
Trade debtors 17,032 16,870

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 19,816 12,413
Short-term deposits 1 1
19,817 12,414

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 20,094 32,534
Other creditors 2,493 36,141
22,587 68,675

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100