Melrose Associates Limited |
Registered number: |
03918404 |
Balance Sheet |
as at 30 June 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Current assets |
Debtors |
5 |
|
- |
|
|
1,200 |
Cash at bank and in hand |
|
|
14,000 |
|
|
263,349 |
|
|
|
14,000 |
|
|
264,549 |
|
Creditors: amounts falling due within one year |
6 |
|
(1,200) |
|
|
(10,504) |
|
Net current assets |
|
|
|
12,800 |
|
|
254,045 |
|
Net assets |
|
|
|
12,800 |
|
|
254,045 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
60 |
|
|
60 |
Profit and loss account |
|
|
|
12,740 |
|
|
253,985 |
|
Shareholders' funds |
|
|
|
12,800 |
|
|
254,045 |
|
|
|
|
|
|
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2024. |
The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006; and preparing financial statements which give a true and fair view of the state of the affairs of the company as at the end of each financial year and of its profit and loss for each financial year in accordance with the requirements of Sections 394 to 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject the the small companies' regime. |
|
|
|
|
D J Wolstenholme |
Director |
Approved by the board on 11 November 2024 |
|
Melrose Associates Limited |
Notes to the Accounts |
for the period from 1 April 2023 to 30 June 2024 |
|
|
1 |
Statutory information |
|
Melrose Associates Limited is a company limited by shares and registered in England and Wales under company number 03918404. The address of the registered office is 1A Trymwood Parade, Stoke Bishop, Bristol, BS9 2DP. |
|
2 |
Summary of significant accounting policies |
|
|
Basis of preparation of financial statements |
|
The financial statements have been prepared in accordance with FRS 102 The financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities and under the historical cost convention. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs which are directly attributable in bringing the asset to its location and condition so that it is capable of operating in the manner intended by the management. Depreciation is provided on all tangible fixed assets at rates which are calculated to write off the cost, less estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), of each asset on a systematic basis over its expected useful life as follows: |
|
|
Office and computer equipment |
25% straight line |
|
|
Profits and losses on the disposal of fixed assets are included in the calculation of profit for the period. The directors assess the company's tangible assets for evidence of impairment at each reporting date. Where there are indicators of impairment, the directors calculate recoverable amount of the asset(s) and compare these with the carrying amount. If recoverable amount is lower than carrying amount, the asset is written down to recoverable amount by way of an impairment loss which is recognised in profit and loss for the period. Impairment losses are reversed when there is evidence that the reasons giving rise to the original impairment have ceased to apply. Impairment losses are reversed through profit and loss but only to the extent that the reversal does not increase the carrying amount of the asset to the amount which would have been stated, net of depreciation, had no impairment loss been recognised. |
|
2 |
Summary of significant accounting policies ( continued ) |
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|
Financial instruments |
|
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss. All other investments are subsequently measured ar cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit and loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment , an impairment loss is recognised in profit and loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assesed individually for impairment. Other financial assets are either assessed individually or grouped on the similar basis of credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. |
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Taxation |
|
Current tax represents the amount of tax payable (receivable) in the respect profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws that have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable. |
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Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and discounts. Turnover is also measured net of the estimated value of customer returns and volume rebates. |
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|
3 |
Average number of employees |
|
The average number of employees, including directors employed under contracts of service, during the year was as follows: |
|
|
|
|
|
|
|
2024 |
|
2023 |
Number |
Number |
|
|
Employees |
1 |
|
2 |
|
|
|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computer equipment |
£ |
|
Cost |
|
At 1 April 2023 |
5,339 |
|
Disposals |
(5,339) |
|
At 30 June 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
5,339 |
|
Charge for the period |
(5,339) |
|
At 30 June 2024 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2024 |
- |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
- |
|
1,200 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
- |
|
4,812 |
|
Other creditors |
1,200 |
|
5,692 |
|
|
|
|
|
|
1,200 |
|
10,504 |
|
|
|
|
|
|
|
|
|