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COMPANY REGISTRATION NUMBER: 14246901
Menta Subco Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2024
Menta Subco Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Current assets
Stocks
4
850,000
850,000
Creditors: amounts falling due within one year
5
859,548
880,614
---------
---------
Net current liabilities
9,548
30,614
-------
--------
Total assets less current liabilities
( 9,548)
( 30,614)
-------
--------
Net liabilities
( 9,548)
( 30,614)
-------
--------
Capital and reserves
Called up share capital
6
1
1
Profit and loss account
( 9,549)
( 30,615)
-------
--------
Shareholders deficit
( 9,548)
( 30,614)
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 February 2025 , and are signed on behalf of the board by:
C R Marks
Director
Company registration number: 14246901
Menta Subco Limited
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Estate Office, 8 Park Village West, London, NW1 4AE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going Concern The financial statements have been prepared on a going concern basis. The director has assessed the Company's ability to continue as a going concern and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing these financial statements.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the period exclusive of Value Added Tax. Revenue from rental income is recognised in the period to which it relates.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 substantiv
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Stocks
2024
2023
£
£
Work in progress
850,000
850,000
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
859,548
880,614
---------
---------
6. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
7. Related party transactions
At the year end the company owed £844,052 (2023: £876,984) to Menta Developments Limited, a company in which C R Marks is a director and shareholder. At the year end the company owed £11,116 (2023: £nil) to Menta Regeneration I Limited a company in which C R Marks is a director and shareholder.