Mediterranean Direct Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 06401434

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		11,995		14,347

			11,995		14,347
CURRENT ASSETS
Stocks	5	60,000		60,000
Debtors	6	91,335		86,780
Cash at bank and in hand		26,336		35,936

		177,671		182,716
Creditors: Amounts Falling Due Within One Year	7	(177,675 )		(163,686 )

NET CURRENT ASSETS (LIABILITIES)			(4 )		19,030

TOTAL ASSETS LESS CURRENT LIABILITIES			11,991		33,377

NET ASSETS			11,991		33,377

CAPITAL AND RESERVES
Called up share capital	8		48,275		48,275
Share premium account			12,872		12,872
Profit and Loss Account			(49,156 )		(27,770 )

SHAREHOLDERS' FUNDS			11,991		33,377

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Mediterranean Direct Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Graham Ditchfield

Director

10/09/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Mediterranean Direct Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06401434 . The registered office is Unit 2 St Ives Business Park, St. Ives Road, Blackburn, BB1 2BX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Improvements	20% RB
Plant & Machinery	25% RB
Fixtures & Fittings	25% RB
Computer Equipment	25% RB

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 8)

4. Tangible Assets

	Land & Property
	Improvements	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2024	18,853	10,707	8,717	13,863	52,140
Additions	-	-	-	1,129	1,129

As at 31 December 2024	18,853	10,707	8,717	14,992	53,269

...CONTINUED

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Mediterranean Direct Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Depreciation
As at 1 January 2024	12,825	5,983	5,717	13,268	37,793
Provided during the period	1,206	945	600	730	3,481

As at 31 December 2024	14,031	6,928	6,317	13,998	41,274

Net Book Value
As at 31 December 2024	4,822	3,779	2,400	994	11,995

As at 1 January 2024	6,028	4,724	3,000	595	14,347

5. Stocks

	2024	2023
	£	£
Stock	60,000	60,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	55,784	53,339
Other debtors	35,551	33,441

	91,335	86,780

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	136,558	144,926
Bank loans and overdrafts	1,889	1,064
Other loans	15,850	437
Other creditors	16,416	5,916
Taxation and social security	6,962	11,343

	177,675	163,686

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	48,275	48,275

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Barry Cotgrave	195	-	-	-	195

The above loan is unsecured, interest free and repayable on demand.

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