Registered number
10890076
Medina Delights Limited
Filleted Accounts
31 July 2024
Medina Delights Limited
Registered number: 10890076
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 282,173 60,217
Current assets
Stocks 51,633 73,225
Debtors 4 47,734 56,878
Cash at bank and in hand 87,811 272,964
187,178 403,067
Creditors: amounts falling due within one year 5 (108,754) (139,205)
Net current assets 78,424 263,862
Net assets 360,597 324,079
Capital and reserves
Called up share capital 200 200
Profit and loss account 360,397 323,879
Shareholders' funds 360,597 324,079
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zaheer Ahmed Tariq
Director
Approved by the board on 10 March 2025
Medina Delights Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 - 83,131 14,601 97,732
Additions 226,412 6,175 - 232,587
At 31 July 2024 226,412 89,306 14,601 330,319
Depreciation
At 1 August 2023 - 29,639 7,876 37,515
Charge for the year - 8,950 1,681 10,631
At 31 July 2024 - 38,589 9,557 48,146
Net book value
At 31 July 2024 226,412 50,717 5,044 282,173
At 31 July 2023 - 53,492 6,725 60,217
4 Debtors 2024 2023
£ £
Trade debtors 46,252 49,011
Other debtors 1,482 7,867
47,734 56,878
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 42,291 48,031
Taxation and social security costs 42,432 36,085
Other creditors 24,031 55,089
108,754 139,205
6 Other information
Medina Delights Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Walford Road
Sparkhill
Birmingham
B11 1NR
Medina Delights Limited 10890076 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 Zaheer Ahmed Tariq No description of principal activity 10890076 2022-08-01 2023-07-31 10890076 core:WithinOneYear 2023-07-31 10890076 core:ShareCapital 2023-07-31 10890076 core:RetainedEarningsAccumulatedLosses 2023-07-31 10890076 2023-08-01 2024-07-31 10890076 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10890076 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10890076 bus:Director40 2023-08-01 2024-07-31 10890076 1 2023-08-01 2024-07-31 10890076 2 2023-08-01 2024-07-31 10890076 core:LandBuildings 2023-08-01 2024-07-31 10890076 core:PlantMachinery 2023-08-01 2024-07-31 10890076 core:Vehicles 2023-08-01 2024-07-31 10890076 countries:England 2023-08-01 2024-07-31 10890076 bus:FRS102 2023-08-01 2024-07-31 10890076 bus:FilletedAccounts 2023-08-01 2024-07-31 10890076 2024-07-31 10890076 core:WithinOneYear 2024-07-31 10890076 core:ShareCapital 2024-07-31 10890076 core:RetainedEarningsAccumulatedLosses 2024-07-31 10890076 core:LandBuildings 2024-07-31 10890076 core:PlantMachinery 2024-07-31 10890076 core:Vehicles 2024-07-31 10890076 2023-07-31 10890076 core:LandBuildings 2023-07-31 10890076 core:PlantMachinery 2023-07-31 10890076 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure