IRIS Accounts Production v25.1.0.734 15026277 Board of Directors 25.7.23 31.7.24 31.7.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh150262772023-07-24150262772024-07-31150262772023-07-252024-07-31150262772023-07-2415026277ns15:EnglandWales2023-07-252024-07-3115026277ns14:PoundSterling2023-07-252024-07-3115026277ns10:Director12023-07-252024-07-3115026277ns10:PrivateLimitedCompanyLtd2023-07-252024-07-3115026277ns10:SmallEntities2023-07-252024-07-3115026277ns10:AuditExempt-NoAccountantsReport2023-07-252024-07-3115026277ns10:SmallCompaniesRegimeForDirectorsReport2023-07-252024-07-3115026277ns10:SmallCompaniesRegimeForAccounts2023-07-252024-07-3115026277ns10:FullAccounts2023-07-252024-07-3115026277ns5:CurrentFinancialInstruments2024-07-3115026277ns5:Non-currentFinancialInstruments2024-07-3115026277ns5:ShareCapital2024-07-3115026277ns5:FurtherSpecificReserve3ComponentTotalEquity2024-07-3115026277ns5:RetainedEarningsAccumulatedLosses2024-07-3115026277ns10:RegisteredOffice2023-07-252024-07-3115026277ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31
REGISTERED NUMBER: 15026277 (England and Wales)



















MEDUSA DEVELOPMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 25 JULY 2023 TO 31 JULY 2024






MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 JULY 2023 TO 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)

BALANCE SHEET
31 JULY 2024

Notes £    £   
FIXED ASSETS
Investment property 4 485,000

CURRENT ASSETS
Debtors 5 1
Cash at bank 67
68
CREDITORS
Amounts falling due within one year 6 168,018
NET CURRENT LIABILITIES (167,950 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,050

CREDITORS
Amounts falling due after more than one
year

7

(314,930

)

PROVISIONS FOR LIABILITIES (942 )
NET ASSETS 1,178

CAPITAL AND RESERVES
Called up share capital 3
Fair value reserve 9 67,554
Retained earnings (66,379 )
SHAREHOLDERS' FUNDS 1,178

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

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

MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)

BALANCE SHEET - continued
31 JULY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:





Mr S J Graziano - Director


MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 25 JULY 2023 TO 31 JULY 2024

1. STATUTORY INFORMATION

Medusa Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 15026277

Registered office: Unit 6 Norse Road
Bedford
Bedfordshire
MK41 0QN

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 as modified by the revaluation of certain assets.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 JULY 2023 TO 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 394,928
Revaluations 90,072
At 31 July 2024 485,000
NET BOOK VALUE
At 31 July 2024 485,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 90,072
Cost 394,928
485,000

If investment property had not been revalued it would have been included at the following historical cost:

£   
Cost 394,928

Investment property was valued on an open market basis on 31 July 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 168,018

MEDUSA DEVELOPMENTS LTD (REGISTERED NUMBER: 15026277)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 25 JULY 2023 TO 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other creditors 314,930

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Other loans 314,930

The loan is secured by way of fixed and floating charges over the investment property.

9. RESERVES
Fair
value
reserve
£   
Fair value movements 90,072
Deferred tax on revaluations (22,518 )

At 31 July 2024 67,554

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the directors were owed £65,595.

Modessa Construction Ltd
A company in which Mr A Cuccurullo is also a director and shareholder.

Amount owed to the related party at the balance sheet date: £97,223.