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REGISTERED NUMBER: 04057532 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MENAS ASSOCIATES LIMITED

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Accountants' Report 8

MENAS ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: C G Gurdon
R Gurdon





SECRETARY: R Gurdon





REGISTERED OFFICE: 55 Loudoun Road
St Johns Wood
London
NW8 0DL





REGISTERED NUMBER: 04057532 (England and Wales)





ACCOUNTANTS: MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
London
HA8 7LW

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,979 903
Investments 5 3 3
1,982 906

CURRENT ASSETS
Debtors 6 165,664 72,475
Cash at bank 387,797 450,713
553,461 523,188
CREDITORS
Amounts falling due within one year 7 (141,719 ) (205,859 )
NET CURRENT ASSETS 411,742 317,329
TOTAL ASSETS LESS CURRENT LIABILITIES 413,724 318,235

CAPITAL AND RESERVES
Called up share capital 8 54,652 82,350
Share premium 9 2,984 2,984
Capital redemption reserve 9 45,348 17,650
Retained earnings 9 310,740 215,251
SHAREHOLDERS' FUNDS 413,724 318,235

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





C G Gurdon - Director


MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

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


1. STATUTORY INFORMATION

Menas Associates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Monetary amounts are rounded to the nearest pound.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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 - 25% on reducing balance
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

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


2. ACCOUNTING POLICIES - continued

Investments
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Interest Payable
Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are presented as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method

Cash and cash equivalent
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 305 2,253 2,558
Additions - 1,909 1,909
At 31 December 2024 305 4,162 4,467
DEPRECIATION
At 1 January 2024 303 1,352 1,655
Charge for year 1 832 833
At 31 December 2024 304 2,184 2,488
NET BOOK VALUE
At 31 December 2024 1 1,978 1,979
At 31 December 2023 2 901 903

5. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 2 1 3
NET BOOK VALUE
At 31 December 2024 2 1 3
At 31 December 2023 2 1 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 159,325 70,450
Other debtors 6,339 2,025
165,664 72,475

MENAS ASSOCIATES LIMITED (REGISTERED NUMBER: 04057532)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,538 -
Taxation and social security 68,274 22,531
Other creditors 71,907 183,328
141,719 205,859

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
281,816 Ordinary 0.1 28,182 55,880
264,700 Ordinary A 0.1 26,470 26,470
54,652 82,350

On 19 August 2024, the company purchased 276,984 ordinary shares at 10p per share with a premium of 15p per share.

9. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 January 2024 215,251 2,984 17,650 235,885
Profit for the year 165,755 165,755
Purchase of own shares (70,266 ) - 27,698 (42,568 )
At 31 December 2024 310,740 2,984 45,348 359,072

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MENAS ASSOCIATES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Menas Associates Limited for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Menas Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Menas Associates Limited and state those matters that we have agreed to state to the Board of Directors of Menas Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Menas Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Menas Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Menas Associates Limited. You consider that Menas Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Menas Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
London
HA8 7LW


8 April 2025