| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| M.E.L.M. SYSTEMS LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
| FOR |
| M.E.L.M. SYSTEMS LIMITED |
| M.E.L.M. SYSTEMS LIMITED (REGISTERED NUMBER: 04970058) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| M.E.L.M. SYSTEMS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 December 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 10 London Mews |
| Paddington |
| LONDON |
| W2 1HY |
| M.E.L.M. SYSTEMS LIMITED (REGISTERED NUMBER: 04970058) |
| BALANCE SHEET |
| 31 December 2023 |
| 31.12.23 | 31.12.22 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| M.E.L.M. SYSTEMS LIMITED (REGISTERED NUMBER: 04970058) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 December 2023 |
| 1. | STATUTORY INFORMATION |
| M.E.L.M. Systems Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| Turnover |
| Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
| Rendering of services |
| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the Company will receive the consideration due under the contract; |
| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
| - the costs incurred and the costs to complete the contract can be measured reliably. |
| Foreign currencies |
| Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.23 | 31.12.22 |
| £ | £ |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.23 | 31.12.22 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| M.E.L.M. SYSTEMS LIMITED (REGISTERED NUMBER: 04970058) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 December 2023 |
| 6. | FINANCIAL INSTRUMENTS |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties. |
| The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
| 7. | RELATED PARTY DISCLOSURES |
| During the year the company repaid interest free loans of £18,246 (2022 - £28,232) and advanced interest free loans of £214,768 (2022 - £54,669) to companies that are owned by the director. |
| As at the balance sheet date the company owes an interest free loan of £55,156 (2022 - £140,025 owed) to companies that the director has a controlling interest and this is shown under other creditors. |
| The loans are repayable on demand. |
| Directors |
| As at the balance sheet date the company owed the director £502 (2022 - £938). |
| These loans are repayable on demand. |