Mediolana Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07397007 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

MEDIOLANA LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

Director:

A Yawar

Registered office:

Office 4

219 Kensington High Street

Kensington

London

W8 6BD

Registered number:

07397007 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Tangible assets

3

616

1,232

Current assets

Stocks

2,059

-

Cash at bank

11

-

2,070

-

Creditors

Amounts falling due within one year

4

26,236

19,269

Net current liabilities

(24,166

)

(19,269

)

Total assets less current liabilities

(23,550

)

(18,037

)

Capital and reserves

Called up share capital

5

100

100

Retained earnings

6

(23,650

)

(18,137

)

Shareholders' funds

(23,550

)

(18,037

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 28 July 2019 and were signed by:

A Yawar - Director

1.	Statutory information

Mediolana 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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

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.

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the

substance of the contractual arrangements entered into and the definitions of a financial liability and an equity

instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company

after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds

received, net of direct issue costs.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Going concern

The financial statements have been prepared on a going concern basis which assumes the continuing financial

support of director.

3.	Tangible fixed assets

Computer

equipment

£

Cost

At 1 November 2017

and 31 October 2018

1,848

Depreciation

At 1 November 2017

616

Charge for year

616

At 31 October 2018

1,232

Net book value

At 31 October 2018

616

At 31 October 2017

1,232

4.

Creditors: amounts falling due within one year

2018

2017

£

£

Bank loans and overdrafts

-

3

Directors' current accounts

25,436

18,466

Accruals and deferred income

800

800

26,236

19,269

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary Shares

1

100

100

6.

Reserves

Retained

earnings

£

At 1 November 2017

(18,137

)

Deficit for the year

(5,513

)

At 31 October 2018

(23,650

)

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements

and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Mediolana Limited for the year ended 31 October 2018 which comprise the Profit and Loss

Account, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Mediolana Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mediolana Limited and state those matters that we have agreed to state to the director of Mediolana Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mediolana Limited and its director for our work or for this report.

It is your duty to ensure that Mediolana Limited 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 loss of Mediolana Limited. You consider that Mediolana Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mediolana Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

30 July 2019