MELAVID LIMITED

Unaudited Financial Statements

for the Year Ended 28th February 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J McManamon

Mrs C McManamon

M P McManamon

SECRETARY:

M P McManamon

REGISTERED OFFICE:

39 Chesnut Grove

Tranmere

Birkenhead

Wirral

CH42 0LB

REGISTERED NUMBER:

01248505 (England and Wales)

ACCOUNTANTS:

Haines Watts Wirral Limited

1 Abbots Quay

Monks Ferry

Birkenhead

Merseyside

CH41 5LH

FIXED ASSETS

Tangible assets

4

1,401,316

2,177,580

Investment property

5

708,999

708,999

2,110,315

2,886,579

CURRENT ASSETS

Stocks

356,561

351,795

Debtors

6

1,018,471

1,099,768

Cash at bank and in hand

12,366

17,047

1,387,398

1,468,610

CREDITORS

Amounts falling due within one year

7

951,315

1,765,859

NET CURRENT ASSETS/(LIABILITIES)

436,083

(297,249

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,546,398

2,589,330

CREDITORS

Amounts falling due after more than one year

8

217,000

429,998

NET ASSETS

2,329,398

2,159,332

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

2,329,298

2,159,232

SHAREHOLDERS' FUNDS

2,329,398

2,159,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 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 3rd September 2025 and were signed on its behalf by:

M P McManamon - Director

1.	STATUTORY INFORMATION

Melavid 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.

Critical accounting judgements and key sources of estimation uncertainty

Preparation of the financial statements requires management to make significant judgements and estimates. The areas in the financial statements where these judgements and estimates have been made include:

- Useful economic life of tangible fixed assets

- Valuation of investment property included in the balance sheet

- Losses resultant from investment property activities

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans 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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to/from related parties.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Motor

property

property

machinery

vehicles

Totals

£

£

£

£

£

COST

At 1st March 2024

411,602

53,987

2,430,256

597,462

3,493,307

Disposals

-

-

(948,400

)

(53,283

)

(1,001,683

)

At 28th February 2025

411,602

53,987

1,481,856

544,179

2,491,624

DEPRECIATION

At 1st March 2024

-

-

899,388

416,339

1,315,727

Charge for year

-

-

182,801

44,165

226,966

Eliminated on disposal

-

-

(403,565

)

(48,820

)

(452,385

)

At 28th February 2025

-

-

678,624

411,684

1,090,308

NET BOOK VALUE

At 28th February 2025

411,602

53,987

803,232

132,495

1,401,316

At 29th February 2024

411,602

53,987

1,530,868

181,123

2,177,580

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st March 2024

1,573,050

130,213

1,703,263

Transfer to ownership

(899,050

)

(130,213

)

(1,029,263

)

At 28th February 2025

674,000

-

674,000

DEPRECIATION

At 1st March 2024

370,815

32,553

403,368

Charge for year

101,100

-

101,100

Transfer to ownership

(269,715

)

(32,553

)

(302,268

)

At 28th February 2025

202,200

-

202,200

NET BOOK VALUE

At 28th February 2025

471,800

-

471,800

At 29th February 2024

1,202,235

97,660

1,299,895

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st March 2024

and 28th February 2025

708,999

NET BOOK VALUE

At 28th February 2025

708,999

At 29th February 2024

708,999

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

827,631

604,825

Other debtors

-

374,231

VAT

104,039

41,199

Deferred tax asset

Capital allowances in excess of depreciation

84,801

77,513

Prepayments and accrued income

2,000

2,000

1,018,471

1,099,768

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

142,379

386,631

Hire purchase contracts

232,001

626,170

Trade creditors

360,301

219,650

Tax

1,361

-

Social security and other taxes

31,386

39,438

Other creditors

21,575

364,343

Directors' current accounts

145,417

102,484

Accrued expenses

16,895

27,143

951,315

1,765,859

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

217,000

429,998

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

449,001

1,056,168

Hire purchase liabilities are secured on the assets to which they relate.

The mortgage liability included in the balance sheet is secured on a number of identified pieces of plant and machinery included on the company's plant register.

10.	RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £nil (2024 - £318,718) owing to Love Lane Developments Limited, a company on which M McManamon is also director and shareholder.

Further included in creditors is the sum of £18,039 (2024 - £102,484) and £127,377 (2024 - Nil) owing to M McManamon and P & C McManamon, company directors and shareholders.