Melcom Electronics Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03131115 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MELCOM ELECTRONICS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E Melas

B Melas

D Brame

J P Melas

SECRETARY:

E Melas

REGISTERED OFFICE:

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

REGISTERED NUMBER:

03131115 (England and Wales)

ACCOUNTANTS:

RJP LLP

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

FIXED ASSETS

Tangible assets

4

100,645

88,748

Investments

5

12,287

22,219

112,932

110,967

CURRENT ASSETS

Stocks

395,947

192,171

Debtors

6

2,254,146

1,934,890

Cash at bank

2,327,228

2,114,332

4,977,321

4,241,393

CREDITORS

Amounts falling due within one year

7

1,306,455

817,036

NET CURRENT ASSETS

3,670,866

3,424,357

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,783,798

3,535,324

PROVISIONS FOR LIABILITIES

9

25,161

22,187

NET ASSETS

3,758,637

3,513,137

CAPITAL AND RESERVES

Called up share capital

10

21,053

Share premium

2,948

Retained earnings

3,734,636

3,489,136

SHAREHOLDERS' FUNDS

3,758,637

3,513,137

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

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

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:

E Melas - Director

1.	STATUTORY INFORMATION

Melcom Electronics Limited 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.

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.

Turnover

Turnover represents amounts chargeable, net of Value Added Tax, in respect of the sale of electrical components.

Revenue is recognised when goods are delivered and title has passed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 10% on cost

Stocks

Stock comprises goods held for resale, which are valued at the lower of cost or net realisable value.

Cost is based on the cost of purchase including delivery charges.

Net realisable value is based on estimated selling prices less costs to complete and sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Foreign currencies

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at cost and assessed for impairment at the end of each reporting date.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

209,147

Additions

57,638

Disposals

(28,033

)

At 31 December 2024

238,752

DEPRECIATION

At 1 January 2024

120,399

Charge for year

26,118

Eliminated on disposal

(8,410

)

At 31 December 2024

138,107

NET BOOK VALUE

At 31 December 2024

100,645

At 31 December 2023

88,748

5.	FIXED ASSET INVESTMENTS

Other

loans

£

At 1 January 2024

22,219

Repayment in year

(10,251

)

Interest charged

319

At 31 December 2024

12,287

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

1,135,461

903,256

Amounts owed by group undertakings

945,682

1,001,997

Other debtors

173,003

29,637

2,254,146

1,934,890

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

296,518

264,376

Taxation and social security

676,089

389,650

Other creditors

333,848

163,010

1,306,455

817,036

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

Within one year

75,000

Between one and five years

75,000

150,000

225,000

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

25,161

22,187

Deferred

tax

£

Balance at 1 January 2024

22,187

Provided during year

2,974

Balance at 31 December 2024

25,161

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

20,000

Ordinary

£1.00

20,000

1,053

A Ordinary

£1.00

1,053

21,053

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

Director

Balance outstanding at start of year

(40,008

)

(162,912

)

Amounts advanced

64,672

184,739

Amounts repaid

(64,672

)

(61,835

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(40,008

)

(40,008

)

Director

Balance outstanding at start of year

-

397

Amounts advanced

6,787

9,991

Amounts repaid

(6,106

)

(10,388

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

681

-

Director

Balance outstanding at start of year

(27,936

)

(30,997

)

Amounts advanced

188,078

53,061

Amounts repaid

(50,000

)

(50,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

110,142

(27,936

)

Interest was charged at 2.25% on overdrawn balances during the year, otherwise loans are interest free.

12.	PARENT COMPANY

The immediate and ultimate parent company is Attica Holdings Limited, a company registered in England and Wales.

These accounts present information about the company as an individual undertaking. Group accounts are not prepared because the group qualifies as a small group.