Melfort Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08918647 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

MELFORT ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A R A Drummond Esq

REGISTERED OFFICE:

Cadland Estate

Stanswood Farm, Stanswood Road

Fawley

Southampton

Hampshire

SO45 1AB

REGISTERED NUMBER:

08918647 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Investments

4

443,096

522,497

CURRENT ASSETS

Debtors

5

180,132

180,733

Cash at bank

1,869

14,110

182,001

194,843

CREDITORS

Amounts falling due within one year

6

540,508

593,732

NET CURRENT LIABILITIES

(358,507

)

(398,889

)

TOTAL ASSETS LESS CURRENT LIABILITIES

84,589

123,608

PROVISIONS FOR LIABILITIES

7,350

26,132

NET ASSETS

77,239

97,476

CAPITAL AND RESERVES

Called up share capital

30

30

Fair value reserve

7

(371,645

)

(291,577

)

Retained earnings

448,854

389,023

SHAREHOLDERS' FUNDS

77,239

97,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 September 2022 and were signed by:

A R A Drummond Esq - Director

1.	STATUTORY INFORMATION

Melfort Enterprises 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.

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 as modified by the revaluation of certain assets.

Turnover

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

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.

Investments

Investments in shares are included at cost less impairment. In the opinion of the director, a fair value cannot be reliably measured. Gains/losses on investments are recognised within the income statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2021

522,497

Additions

33,000

Share of profit/(loss)

(13,552

)

Revaluations

(98,849

)

At 31 December 2021

443,096

NET BOOK VALUE

At 31 December 2021

443,096

At 31 December 2020

522,497

Cost or valuation at 31 December 2021 is represented by:

Other

investments

£

Valuation in 2017

(387,359

)

Valuation in 2019

184,904

Valuation in 2020

(47,369

)

Valuation in 2021

(98,849

)

Cost

791,769

443,096

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Other debtors

180,132

180,733

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

512,575

512,575

Trade creditors

7,029

5,020

Taxation and social security

8,404

28,336

Other creditors

12,500

47,801

540,508

593,732

7.

RESERVES

Fair

value

reserve

£

At 1 January 2021

(291,577

)

Revaluation

(98,849

)

Deferred tax

18,781

At 31 December 2021

(371,645

)

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.