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REGISTERED NUMBER: 09963946 (England and Wales)














Medieval Chemistry Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2024






Medieval Chemistry Ltd (Registered number: 09963946)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 9


Medieval Chemistry Ltd

Company Information
for the Year Ended 31 October 2024







Directors: J G L Hosier
D L Shores





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: 7 Welbeck Drive
Spalding
Lincolnshire
PE11 1PD





Registered number: 09963946 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Medieval Chemistry Ltd


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 Directors' report 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 Medieval Chemistry Ltd for the year ended 31 October 2024 which comprise the Statement of income and retained earnings, 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 Medieval Chemistry Ltd, as a body, in accordance with the terms of our engagement letter dated 4 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Medieval Chemistry Ltd and state those matters that we have agreed to state to the Board of Directors of Medieval Chemistry Ltd, 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 Medieval Chemistry Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Medieval Chemistry Ltd 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 loss of Medieval Chemistry Ltd. You consider that Medieval Chemistry Ltd 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 Medieval Chemistry Ltd. 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.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


2 June 2025

Medieval Chemistry Ltd (Registered number: 09963946)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 2,939 3,919
2,939 3,919

Current assets
Debtors 7 1,103 -
Cash at bank 65,771 70,684
66,874 70,684
Creditors
Amounts falling due within one year 8 43,609 35,807
Net current assets 23,265 34,877
Total assets less current liabilities 26,204 38,796

Creditors
Amounts falling due after more than one
year

9

(7,137

)

(13,205

)

Provisions for liabilities (525 ) (980 )
Net assets 18,542 24,611

Reserves
Retained earnings 18,542 24,611
18,542 24,611

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

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

Medieval Chemistry Ltd (Registered number: 09963946)

Statement of Financial Position - continued
31 October 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





J G L Hosier - Director


Medieval Chemistry Ltd (Registered number: 09963946)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. General information

Medieval Chemistry Ltd 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. 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 under the historical cost convention.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and imputed under the flat rate Value Added Tax scheme.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Website- 25% straight line
Patents, trademarks and licences- 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Medieval Chemistry Ltd (Registered number: 09963946)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery- 25% reducing balance
Fixtures and fittings- 25% reducing balance
Equipment- 25% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.


Medieval Chemistry Ltd (Registered number: 09963946)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued
Income tax
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 substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Company limited by guarantee
The company is limited by guarantee and does not have a share capital. The liability for members in the event of winding up is limited to an amount not exceeding £1 per member. There are currently two members.

4. Employees and directors

The average number of employees during the year was 2 (2023 - NIL ) .

5. Intangible fixed assets
Patents
and Computer
licences software Totals
£    £    £   
Cost
At 1 November 2023
and 31 October 2024 100 1,300 1,400
Amortisation
At 1 November 2023
and 31 October 2024 100 1,300 1,400
Net book value
At 31 October 2024 - - -
At 31 October 2023 - - -

Medieval Chemistry Ltd (Registered number: 09963946)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


6. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Equipment Totals
£    £    £    £   
Cost
At 1 November 2023
and 31 October 2024 3,856 598 5,575 10,029
Depreciation
At 1 November 2023 2,761 518 2,831 6,110
Charge for year 274 20 686 980
At 31 October 2024 3,035 538 3,517 7,090
Net book value
At 31 October 2024 821 60 2,058 2,939
At 31 October 2023 1,095 80 2,744 3,919

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Tax 1,103 -

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 5,387 5,100
Trade creditors 6,464 401
Corporation tax - 1,103
VAT 29,738 26,733
Accruals and deferred income 2,020 2,470
43,609 35,807

9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 7,137 13,205

10. Related party transactions

During the year, a director raised invoices to the company for labour of £3,500 (2023: £5,500), no amount was outstanding at the year end.

Medieval Chemistry Ltd (Registered number: 09963946)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


11. Additional information

The company incurred the following volunteer hours in order for the main activities to take place:

2024 2023

Administration 5,484 5,654
Site preparation and clearance 8,625 8,846
Festival 2,392 2,518