Registered number
15022786
MEÑLI LTD
Filleted Accounts
31 July 2024
MEÑLI LTD
Registered number: 15022786
Balance Sheet
as at 31 July 2024
Notes 2024
£
Current assets
Stocks 1,154
Debtors 3 38
Cash at bank and in hand 4
1,196
Creditors: amounts falling due within one year 4 (7,015)
Net current liabilities (5,819)
Net liabilities (5,819)
Capital and reserves
Called up share capital 100
Profit and loss account (5,919)
Shareholders' funds (5,819)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
N Khan
Director
Approved by the board on 25 October 2024
MEÑLI LTD
Notes to the Accounts
for the period from 24 July 2023 to 31 July 2024
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024
Number
Average number of persons employed by the company 2
3 Debtors 2024
£
Other debtors 38
4 Creditors: amounts falling due within one year 2024
£
Trade creditors 1,495
Other creditors 5,520
7,015
5 Going concern
These accounts have been prepared on a going concern basis. The Directors' have confirmed that they will continue to provide financial support to the company until such time as its position improves.
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N Khan (appointed 04/03/2024) - (5,407) 359 (5,048)
R Darnal (appointed 04/03/2024) - (125) 45 (80)
B Mwanza (resigned 04/03/2024) - (392) - (392)
- (5,924) 404 (5,520)
7 Related party transactions
Included in other creditors is a balance owed to the Directors', by the company of a total £5,520. This amount is undated, unsecured, interest free and repayable on demand.
8 Controlling party
The company is under the control of majority shareholder, N Khan.
9 Other information
MEÑLI LTD is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
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