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Company No: 13643014 (England and Wales)

MEDAL DEVELOPMENTS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

MEDAL DEVELOPMENTS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

MEDAL DEVELOPMENTS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
MEDAL DEVELOPMENTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Current assets
Stocks 3 118,330 93,440
118,330 93,440
Creditors: amounts falling due within one year 4 ( 128,882) ( 98,268)
Net current liabilities (10,552) (4,828)
Total assets less current liabilities (10,552) (4,828)
Net liabilities ( 10,552) ( 4,828)
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account ( 10,554 ) ( 4,830 )
Total shareholders' deficit ( 10,552) ( 4,828)

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Medal Developments Ltd (registered number: 13643014) were approved and authorised for issue by the Director on 25 June 2025. They were signed on its behalf by:

D Harris
Director
MEDAL DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
MEDAL DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

Medal Developments Ltd (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 2 Leman Street, London, E1W 9US, 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 £.

Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Stocks

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the Stock to their present location and condition.

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of Stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Stocks

2024 2023
£ £
Work in progress 118,330 93,440

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 67,351 52,569
Amounts owed to director 58,231 42,399
Accruals 3,300 3,300
128,882 98,268

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

6. Related party transactions

Other related party transactions

2024 2023
£ £
Entities with control, joint control or significant influence over the company 67,351 52,569