IRIS Accounts Production v24.3.2.46 10844375 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh108443752023-03-31108443752024-03-31108443752023-04-012024-03-31108443752022-03-31108443752022-04-012023-03-31108443752023-03-3110844375ns15:EnglandWales2023-04-012024-03-3110844375ns14:PoundSterling2023-04-012024-03-3110844375ns10:Director12023-04-012024-03-3110844375ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110844375ns10:SmallEntities2023-04-012024-03-3110844375ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3110844375ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110844375ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110844375ns10:FullAccounts2023-04-012024-03-3110844375ns10:RegisteredOffice2023-04-012024-03-3110844375ns5:CurrentFinancialInstruments2024-03-3110844375ns5:CurrentFinancialInstruments2023-03-3110844375ns5:Non-currentFinancialInstruments2024-03-3110844375ns5:Non-currentFinancialInstruments2023-03-3110844375ns5:ShareCapital2024-03-3110844375ns5:ShareCapital2023-03-3110844375ns5:RetainedEarningsAccumulatedLosses2024-03-3110844375ns5:RetainedEarningsAccumulatedLosses2023-03-3110844375ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3110844375ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3110844375ns5:Non-currentFinancialInstruments2023-04-012024-03-31108443751ns10:Director12023-03-31108443751ns10:Director12022-03-31108443751ns10:Director12023-04-012024-03-31108443751ns10:Director12022-04-012023-03-31108443751ns10:Director12024-03-31108443751ns10:Director12023-03-31
REGISTERED NUMBER: 10844375 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MEL29 INVESTMENT LIMITED

MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MEL29 INVESTMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Arif Patel





REGISTERED OFFICE: 364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 10844375 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 757,762 717,762

CURRENT ASSETS
Debtors 5 4,319 44,319
Cash at bank and in hand 423 338
4,742 44,657
CREDITORS
Amounts falling due within one year 6 298,960 297,641
NET CURRENT LIABILITIES (294,218 ) (252,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,544

464,778

CREDITORS
Amounts falling due after more than one
year

7

493,774

498,475
NET LIABILITIES (30,230 ) (33,697 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (30,330 ) (33,797 )
(30,230 ) (33,697 )

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

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

The director acknowledges his 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.

MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 January 2025 and were signed by:





Arif Patel - Director


MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Mel29 Investment 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. ACCOUNTING POLICIES

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

Turnover
Turnover represents net income receivable from sale of goods and services in the year, excluding value added tax.

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 Income Statement, 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.

Going concern
The total current Liabilities exceeds the total Current assets of the company as at 31st Mar 2024. The director has confirmed that the company will have continuous support from the creditors. It is on this basis accounts have be prepared on the going concern basis.

MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 717,762
Additions 40,000
At 31 March 2024 757,762
NET BOOK VALUE
At 31 March 2024 757,762
At 31 March 2023 717,762

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 4,319 44,319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 298,960 297,641

MEL29 INVESTMENT LIMITED (REGISTERED NUMBER: 10844375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 493,774 498,475

The bank loan is secured on property.

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Arif Patel
Balance outstanding at start of year (273,286 ) (270,666 )
Amounts repaid (5,425 ) (2,620 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (278,711 ) (273,286 )