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REGISTERED NUMBER: 13594112 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

MEDC LIMITED

MEDC LIMITED (REGISTERED NUMBER: 13594112)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MEDC LIMITED

Company Information
for the Year Ended 31 August 2024







Directors: P K Brooks
C S C Chan





Registered office: Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN





Registered number: 13594112 (England and Wales)





Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

MEDC LIMITED (REGISTERED NUMBER: 13594112)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 826 254
Investment property 6 373,483 207,482
374,309 207,736

Current assets
Debtors 7 721 640
Cash at bank 7,372 115,303
8,093 115,943
Creditors
Amounts falling due within one year 8 370,744 316,888
Net current liabilities (362,651 ) (200,945 )
Total assets less current liabilities 11,658 6,791

Capital and reserves
Called up share capital 9 120 120
Retained earnings 11,538 6,671
Shareholders' funds 11,658 6,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2025 and were signed on its behalf by:





P K Brooks - Director


MEDC LIMITED (REGISTERED NUMBER: 13594112)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. Statutory information

MEDC Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
As at 31 August 2023 the company had net current liabilities of £362,651 (2023 - £200,945). The company is dependent on the continued support of its directors who have confirmed their commitment to continue to provide the necessary support as long as the company needs it.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the directors were not to provide further support.

Turnover
Turnover represents rents receivable by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

MEDC LIMITED (REGISTERED NUMBER: 13594112)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 September 2023 748
Additions 1,239
At 31 August 2024 1,987
Depreciation
At 1 September 2023 494
Charge for year 667
At 31 August 2024 1,161
Net book value
At 31 August 2024 826
At 31 August 2023 254

6. Investment property
Total
£   
Cost
At 1 September 2023 207,482
Additions 166,001
At 31 August 2024 373,483
Net book value
At 31 August 2024 373,483
At 31 August 2023 207,482

The investment properties are shown at cost. The directors believe that cost is not materially different to the value of the property at 31 August 2024.

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 721 640

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 240
Taxation and social security 1,439 1,262
Other creditors 369,305 315,386
370,744 316,888

MEDC LIMITED (REGISTERED NUMBER: 13594112)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary £1 120 120