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Registered number: 14411458
MELENA LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2025
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MELENA LTD
COMPANY INFORMATION
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Ashon - Chartered Accountants
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MELENA LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MELENA LTD
FOR THE YEAR ENDED 31 MARCH 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MELENA LTD for the year ended 31 March 2025 which comprise the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the Board of Directors of MELENA LTD, as a body, in accordance with the terms of our engagement letter dated 11 October 2022. Our work has been undertaken solely to prepare for your approval the financial statements of MELENA LTD and state those matters that we have agreed to state to the Board of Directors of MELENA LTD, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MELENA LTD and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that MELENA LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MELENA LTD. You consider that MELENA LTD is exempt from the statutory audit requirement for the year.
Ashon - Chartered Accountants
Tudor Cottage
Overstream
Loudwater
Rickmansworth
Hertfordshire
WD3 4LD
25 April 2025
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MELENA LTD
REGISTERED NUMBER: 14411458
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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MELENA LTD
REGISTERED NUMBER: 14411458
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 April 2025.
___________________________
Mahesh Singadia
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___________________________
Amarjit Singh Sahib
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The notes on pages 4 to 8 form part of these financial statements.
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MELENA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The company is a private company limited by share capital, incorporated in England & Wales. The company number and registered office address are:
Company number: 04073573
Registered office address: Culzean
Frimley Hall Drive
Camberley
Surrey
England
GU15 2BE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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MELENA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
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MELENA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Freehold investment property
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Amounts recoverable: Deficit on Service charge account
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MELENA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Rent receivable in advance
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Loan from shareholder 1 - Mr M Singadia
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Loan from shareholder 2 - Sahibs SSAS Pension
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Loan from associated company (Ashley)
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MELENA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Related party transactions
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The company owes the directors, Mr M Singadia £145,081 (2024:£145,081) and Mr A S Sahib £2 (2024:£60,002) at the balance sheet date. This is included under current liabilities.
The directors, Mr M Singadia and Mr A S Sahib are also directors of Ashley Housing Limited ("AHL"). At the balance sheet date, the company owes £306,990 (2024:£306,990) to "AHL". This is included under current liabilities.
Mr M Singadia and Sahibs SSAS Pension Fund are the shareholders of the company. Included under creditors for amounts falling due after more than one year is unsecured and interst free loans of £1,440,000 (2024: £1,440,000) from the two shareholders. Mr M Sangadia is owed £1,008,000 (2024: £1,008,000) and Sahibs SSAS Pension Fund is owed £432,000 (2024: £432,000).
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