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REGISTERED NUMBER: 02329532 (England and Wales)









MINRELA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






MINRELA LIMITED (REGISTERED NUMBER: 02329532)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MINRELA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: A E Griffiths
P E Bailey





SECRETARY: A E Griffiths





REGISTERED OFFICE: 9 Water's Edge
66H Beach Road
Porthcawl
Mid Glam
CF36 5NE





REGISTERED NUMBER: 02329532 (England and Wales)






MINRELA LIMITED (REGISTERED NUMBER: 02329532)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 2,322,107 2,128,432
Cash at bank 18,076 36,416
2,340,183 2,164,848
CREDITORS
Amounts falling due within one year 6 31,316 71
NET CURRENT ASSETS 2,308,867 2,164,777
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,308,867

2,164,777

CAPITAL AND RESERVES
Called up share capital 7 2,110,101 2,110,101
Retained earnings 198,766 54,676
SHAREHOLDERS' FUNDS 2,308,867 2,164,777

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.

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 9 July 2025 and were signed on its behalf by:



A E Griffiths - Director


MINRELA LIMITED (REGISTERED NUMBER: 02329532)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Minrela 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

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 - 15% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost


MINRELA LIMITED (REGISTERED NUMBER: 02329532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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
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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. if such indication exists, the recoverable amount of the asset, or the cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

MINRELA LIMITED (REGISTERED NUMBER: 02329532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments'.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies 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 financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 3,844 49,070 8,453 61,367
DEPRECIATION
At 1 November 2023
and 31 October 2024 3,844 49,070 8,453 61,367
NET BOOK VALUE
At 31 October 2024 - - - -
At 31 October 2023 - - - -

MINRELA LIMITED (REGISTERED NUMBER: 02329532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,706 5,750
Other debtors 2,301,401 2,122,682
2,322,107 2,128,432

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 71
Taxation and social security 1,122 -
Other creditors 30,194 -
31,316 71

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £
1,000,100 Ordinary A shares £1 1,000,100
5,000 Ordinary B shares £1 5,000
5,000 Ordinary C shares £1 5,000
1 Ordinary G shares £1 1
1,100,000 Preference shares £1 1,100,000
2,110,101

8. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
P E Bailey
Balance outstanding at start of year 13,437 -
Amounts advanced 31,369 28,437
Amounts repaid (75,000 ) (15,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (30,194 ) 13,437

The balance is interest free and repayable on demand.

MINRELA LIMITED (REGISTERED NUMBER: 02329532)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. RELATED PARTY DISCLOSURES

Redi 205 Limited
Redi 205 Limited, a company whose directors and shareholders include Mr P E Bailey, has been provided financial support by Minrela Limited. During the year, Minrela Limited charged Redi 205 Limited interest of £150,903 (2023: £nil) on the loan balance. At the year end, £1,659,930 (2023: £763,747 was owed by Redi 205 Limited and is included within other debtors.

SWM Developments Limited
SWM Developments Limited , a company whose directors and shareholders include Mr P E Bailey, has been provided financial support by Minrela Limited. At the year end, £163,140 (2023: £474,792) was owed by SWM Developments Limited and is included within other debtors.
This loan is interest free and repayable on demand.

Mathern (2008) Limited
Mathern (2008) Limited, a company whose directors and shareholders include P E Bailey, has been provided financial support by Minrela Limited. At the year end, £463,695 (2023: £864,471) was owed by Mathern (2008) Limited and is included within other debtors.
This loan is interest free and repayable on demand.