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Registered Number: 07512537
England and Wales

 

 

 

MEDINA GLOW LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountants report You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. 



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

Akhter's Limited Accountants and Business Advisors

64 Castle Boulevard
Nottingham
NG7 1FN
01 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 4 1    1 
Tangible fixed assets 5 873,114    873,114 
873,115    873,115 
Current assets      
Cash at bank and in hand 4,220    6,651 
Creditors: amount falling due within one year (5,510)   (17,844)
Net current assets (1,290)   (11,193)
 
Total assets less current liabilities 871,825    861,922 
Creditors: amount falling due after more than one year (679,607)   (687,114)
Net assets 192,218    174,808 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 192,118    174,708 
Shareholders' funds 192,218    174,808 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 01 January 2025 and were signed by:


-------------------------------
Mr Sajaid Mahmood
Director
2
General Information
Medina Glow Ltd is a private company, limited by shares, registered in England and Wales, registration number 07512537, registration address 64 Castle Boulevard, Nottingham, NG7 1FN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Rents Received
Rent received comprises the value of rent agreed with the tenants on accrual basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. No amortisation has been considered necessary by the director.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Indebtedness

The company has a Debenture dated 11th March 2011 with the lender Lloyds TSB Bank TSB PLC, which covers a fixed and floating charge over all of the company's assets present and future. The company has a Mortgage Deed dated 31st May 2011 with the lender Lloyds TSB Bank PLC, which covers a fixed charge over the freehold property known as 22 Elm Avenue, Beeston, Nottingham, NG9 1BU.

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2023 1    1 
Additions  
Disposals  
At 31 March 2024 1    1 
Net book values
At 31 March 2024 1    1 
At 31 March 2023 1    1 


5.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 April 2023 873,114    873,114 
Additions  
Disposals  
At 31 March 2024 873,114    873,114 
Depreciation
At 01 April 2023  
Charge for year  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 873,114    873,114 
Opening balance as at 01 April 2023 873,114    873,114 


6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3