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Registration number: 12477839

Medalin Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Medalin Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Medalin Holdings Limited

Company Information

Directors

Mr M Hoskins

Mrs A Hoskins

Registered office

Caldow House
Crescent Road
Lutterworth
Leicestershire
LE17 4PE

Accountants

Botterill & Co
Chartered Certified Accountants
First Floor Offices
40 Norwood
Beverley
East Yorkshire
HU17 9EY

 

Medalin Holdings Limited

(Registration number: 12477839)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,000,000

2,000,000

Current assets

 

Debtors

5

10,000

-

Creditors: Amounts falling due within one year

6

(10,000)

-

Net current assets/(liabilities)

 

-

-

Net assets

 

2,000,000

2,000,000

Capital and reserves

 

Called up share capital

7

2,000,000

2,000,000

Shareholders' funds

 

2,000,000

2,000,000

For the financial year ending 31 December 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 15 April 2024 and signed on its behalf by:
 

.........................................
Mr M Hoskins
Director

 

Medalin Holdings Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Caldow House
Crescent Road
Lutterworth
Leicestershire
LE17 4PE
England

These financial statements were authorised for issue by the Board on 15 April 2024.

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.

Group accounts not prepared

The financial statements contain information about Medalin Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements..

Going concern

The financial statements have been prepared on a going concern basis.

The company continues to have the financial support of the group, its bankers and Mike Hoskins, the ultimate controlling party.

 

Medalin Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Medalin Holdings Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,000,000

2,000,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

2,000,000

Provision

Carrying amount

At 31 December 2023

2,000,000

At 31 December 2022

2,000,000

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

10,000

-

   

10,000

-

 

Medalin Holdings Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

10,000

-

Securities:-

Composite Company Unlimited Multilateral Guarantee given by Pretty Legs Hosiery Limited, Pretty Legs Holdings Limited, Medalin Limited, Medalin Holdings Limited and CUI International Limited.

First Legal Charge over Freehold Property known as Land and buildings on the, North East side of Crescent Road, Lutterworth.

Debenture including Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future.

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2,000,000

2,000,000

2,000,000

2,000,000

       

8

Related party transactions

 

Medalin Holdings Limited

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

Transactions with directors

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

Mr M Hoskins

Amounts owing to the director

-

8,000

8,000

Mrs A Hoskins

Amounts owing to the director

-

2,000

2,000