Medina Capital Investments (Rentals) - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09833868 (England and Wales)

Unaudited Financial Statements

for the Period 1 November 2018 to 30 April 2020

for

Medina Capital Investments (Rentals)

Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

N H N Al-Khail

REGISTERED OFFICE:

7th Floor

19 Berkeley Street

Mayfair

London

W1J 8ED

REGISTERED NUMBER:

09833868 (England and Wales)

ACCOUNTANTS:

Grunberg & Co Limited

Chartered Accountants

5 Technology Park

Colindeep Lane

Colindale

London

NW9 6BX

FIXED ASSETS

Investment property

4

23,633

-

CURRENT ASSETS

Debtors

5

205,563

26,127

Cash at bank

215,035

292,241

420,598

318,368

CREDITORS

Amounts falling due within one year

6

428,253

271,270

NET CURRENT (LIABILITIES)/ASSETS

(7,655

)

47,098

TOTAL ASSETS LESS CURRENT LIABILITIES

15,978

47,098

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

15,976

47,096

SHAREHOLDERS' FUNDS

15,978

47,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2020 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2021 and were signed by:

N H N Al-Khail - Director

1.	STATUTORY INFORMATION

Medina Capital Investments (Rentals) 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.

Turnover

Turnover represents net rent receivable, excluding value added tax and is recognised on a calendar basis.

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.

Financial instruments

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

Financial assets that are measured at cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Debtors

Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost.

Creditors

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2018 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

23,633

At 30 April 2020

23,633

NET BOOK VALUE

At 30 April 2020

23,633

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2018

£

£

Amounts owed by group undertakings

205,282

-

Director's current account

-

26,096

Tax recoverable

31

31

Prepayments and accrued income

250

-

205,563

26,127

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2018

£

£

Amounts owed to group undertakings

181,822

268,557

Director's current account

243,911

-

Accruals and deferred income

2,520

2,713

428,253

271,270

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 April 2020 and the year ended 31 October 2018:

2020

2018

£

£

N H N Al-Khail

Balance outstanding at start of period

26,097

-

Amounts advanced

-

26,097

Amounts repaid

(26,097

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

26,097

8.	RELATED PARTY DISCLOSURES

The amounts due to and from group undertakings, relate to entities where the director has a martial interest. All loans are interest free and repayable on demand.