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Registration number: 12537607

Meda Holding Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2023 to 31 March 2024

 

Meda Holding Limited

Contents

Accountants' Report

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Meda Holding Limited
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Meda Holding Limited for the period ended 31 March 2024 as set out on pages 2 to 7 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Meda Holding Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Meda Holding Limited and state those matters that we have agreed to state to the Board of Directors of Meda Holding Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meda Holding Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Meda Holding Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Meda Holding Limited. You consider that Meda Holding Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Meda Holding Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BUTTERTOWN LIMITED
c/o BEFS
Suite2,Alma House
Alma Road
Reigate
Surrey
RH2 0AX

16 September 2024

 

Meda Holding Limited

(Registration number: 12537607)
Balance Sheet as at 31 March 2024

Note

2024
£

2022
£

Fixed assets

 

Intangible assets

20,707,671

1,355,513

Current assets

 

Debtors

4

8,515

-

Creditors: Amounts falling due within one year

5

(16,716)

-

Net current liabilities

 

(8,201)

-

Total assets less current liabilities

 

20,699,470

1,355,513

Creditors: Amounts falling due after more than one year

5

(21,300,306)

(1,369,166)

Net liabilities

 

(600,836)

(13,653)

Capital and reserves

 

Called up share capital

6

8,515

-

Retained earnings

(609,351)

(13,653)

Shareholders' deficit

 

(600,836)

(13,653)

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Adel Hasan
Director

 

Meda Holding Limited

Statement of Changes in Equity for the Period from 1 January 2023 to 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

-

(13,653)

(13,653)

Loss for the period

-

(595,698)

(595,698)

New share capital subscribed

8,515

-

8,515

At 31 March 2024

8,515

(609,351)

(600,836)

Retained earnings
£

Total
£

At 1 January 2022

(13,653)

(13,653)

At 31 December 2022

(13,653)

(13,653)

 

Meda Holding Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
The Beehive
Beehive Ring Road
London Gatwick Airport
Gatwick
RH6 0PA

These financial statements were authorised for issue by the director on 13 September 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Intangible assets

In May 2020 the company acquired a controlling interest in Gezport Medya a company operated from Turkey for £263,000 and these shares are today valued at £1,355,600

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Investments

The company has large investment portfolios with Deutsche Bank and Credit Suisse

 

Meda Holding Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Debtors

Current

Note

2024
£

2022
£

Amounts owed by related parties

8

8,515

-

   

8,515

-

 

Meda Holding Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2022
£

Due within one year

 

Loans and borrowings

7

11,756

-

Trade creditors

 

4,960

-

 

16,716

-

Creditors: amounts falling due after more than one year

Note

2024
£

2022
£

Due after one year

 

Loans and borrowings

7

21,300,306

1,369,166

6

Share capital

Allotted, called up and fully paid shares

2024

2022

No.

£

No.

£

Ord of £1 each

8,500

8,500

1

1

Ord of £0.01 (2022 - £0) each

1,500

15

-

-

10,000

8,515

1

1

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2022
£

Other borrowings

21,300,306

1,369,166

Current loans and borrowings

2024
£

2022
£

Bank overdrafts

11,756

-

8

Related party transactions

 

Meda Holding Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2023 to 31 March 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2022
£

Remuneration

6,885

-