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

REGISTERED NUMBER: 03738477 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Melobi Limited

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs Melanie Jane Onuorah

REGISTERED OFFICE:

46 Thornton Close

Girton

Cambridge

CB3 0NG

REGISTERED NUMBER:

03738477 (England and Wales)

ACCOUNTANTS:

Krypton Consulting Ltd

Chartered Certified Accountants &

Advisory Services

Navigation House, Unit 6

Town Quay Wharf

Abbey Road

Barking

Essex

IG11 7BZ

The director presents her report with the financial statements of the company for the year ended 31 March 2020.

DIRECTOR

Mrs Melanie Jane Onuorah held office during the whole of the period from 1 April 2019 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mrs Melanie Jane Onuorah - Director

2 March 2021

FIXED ASSETS

Tangible assets

4

5,650

5,650

CURRENT ASSETS

Stocks

44,560

44,560

Cash at bank and in hand

762

546

45,322

45,106

CREDITORS

Amounts falling due within one year

5

55,096

54,015

NET CURRENT LIABILITIES

(9,774

)

(8,909

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,124

)

(3,259

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

6

(4,126

)

(3,261

)

(4,124

)

(3,259

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 2 March 2021 and were signed by:

Mrs Melanie Jane Onuorah - Director

1.	STATUTORY INFORMATION

Melobi 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.

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.

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

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

and 31 March 2020

7,063

DEPRECIATION

At 1 April 2019

and 31 March 2020

1,413

NET BOOK VALUE

At 31 March 2020

5,650

At 31 March 2019

5,650

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

2,844

2,679

Trade creditors

16,451

16,450

Accountancy

450

450

Corporation Tax Payable

(875

)

1,135

VAT Due

887

551

Directors Loan

27,839

29,000

Accruals

7,500

3,750

55,096

54,015

6.

RESERVES

Retained

earnings

£

At 1 April 2019

(3,261

)

Deficit for the year

(865

)

At 31 March 2020

(4,126

)