Company No:
Contents
| DIRECTOR | Mr A G D Esse |
| SECRETARY | Mr J Curry |
| REGISTERED OFFICE | 264 Banbury Road |
| Oxford | |
| Oxfordshire | |
| England | |
| OX2 7DY | |
| United Kingdom |
| COMPANY NUMBER | 08753991 (England and Wales) |
| ACCOUNTANT | Shaw Gibbs Limited |
| 264 Banbury Road | |
| Oxford | |
| OX2 7DY | |
| United Kingdom |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investments | 3 |
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| 2,185,659 | 2,185,659 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 6,340,274 | 6,337,211 | |||
| Creditors: amounts falling due within one year | 5 | (
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(
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| Net current assets | 243,396 | 308,886 | ||
| Total assets less current liabilities | 2,429,055 | 2,494,545 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholder's funds |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Meydan Asset Management Limited (registered number:
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Mr A G D Esse
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Meydan Asset Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 264 Banbury Road, Oxford, Oxfordshire, England, OX2 7DY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 399 of the Companies Act 2006 not to prepare group accounts.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| 2024 | 2023 | ||
| £ | £ | ||
| Subsidiary undertakings |
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| 2024 | 2023 | ||
| £ | £ | ||
| Amounts owed by own subsidiaries |
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| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxation and social security |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
Included in current liabilities is £100,137 owed to a director (2023: £150,937) . This amount is unsecured with no fixed repayable terms other than it is repayable on demand. No interest has been charged on this amount.
Other related party transactions
The company has taken advantage of the exemptions provided by paragraph 1AC.35 of FRS 102 and has not disclosed transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by a member of that group.