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Company No: 01851625 (England and Wales)

MEDALTAPE LTD

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

MEDALTAPE LTD

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

MEDALTAPE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 October 2024
MEDALTAPE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 94,132 106,429
Investment property 4 390,000 390,000
484,132 496,429
Current assets
Debtors 5 41,530 17,032
Cash at bank and in hand 502 19,816
42,032 36,848
Creditors: amounts falling due within one year 6 ( 16,668) ( 22,587)
Net current assets 25,364 14,261
Total assets less current liabilities 509,496 510,690
Net assets 509,496 510,690
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 509,396 510,590
Total shareholders' funds 509,496 510,690

For the financial year ending 31 October 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 Medaltape Ltd (registered number: 01851625) were approved and authorised for issue by the Director. They were signed on its behalf by:

C J A Porter
Director

17 July 2025

MEDALTAPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
MEDALTAPE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Medaltape 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

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

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 2 2

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 November 2023 55,061 157,650 68,444 0 281,155
Additions 0 0 0 1,863 1,863
At 31 October 2024 55,061 157,650 68,444 1,863 283,018
Accumulated depreciation
At 01 November 2023 18,355 125,676 30,695 0 174,726
Charge for the financial year 3,671 4,796 5,662 31 14,160
At 31 October 2024 22,026 130,472 36,357 31 188,886
Net book value
At 31 October 2024 33,035 27,178 32,087 1,832 94,132
At 31 October 2023 36,706 31,974 37,749 0 106,429

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 390,000
As at 31 October 2024 390,000

Valuation

The 2024 valuation was made by the director on an open market value for existing use basis.

5. Debtors

2024 2023
£ £
Trade debtors 602 1,032
Amounts owed by director 5,904 0
Accrued income 35,024 16,000
41,530 17,032

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 0 116
Accruals 2,377 2,377
Taxation and social security 13,059 20,094
Other creditors 1,232 0
16,668 22,587

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100