Medina View Limited - Accounts

MEDINA VIEW LIMITED - Company Information

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Registered Number: 06773880

England and Wales

MEDINA VIEW LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

Medina View Limited
Contents Page
For the year ended 31 March 2021

Accountants' report	1
Balance sheet	2
Notes to the financial statements	3

Medina View Limited Accountants' Report For the year ended 31 March 2021
Accountants report You consider that the company is exempt from an audit for the year ended 31 March 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. .................................................... Akhters Limited 163 Castle Boulevard Nottingham Nottinghamshire NG7 1FJ 31 March 2022 1

Medina View Limited
Accountants' Report
For the year ended 31 March 2021

Accountants report You consider that the company is exempt from an audit for the year ended 31 March 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.

....................................................
Akhters Limited
163 Castle Boulevard
Nottingham
Nottinghamshire
NG7 1FJ
31 March 2022

Medina View Limited
Balance Sheet
As at 31 March 2021

	2021 £	2020 £
Fixed assets
Tangible fixed assets	1,640,627	1,640,911
	1,640,627	1,640,911
Current assets
Stocks	1,003	1,125
Debtors: amounts falling due after one year	1,168,650	1,081,486
Cash at bank and in hand	(17,173)	(338,093)
	1,152,480	744,518
Creditors: amount falling due within one year	(247,064)	(160,408)
Net current assets	905,416	584,110

Total assets less current liabilities	2,546,043	2,225,021
Creditors: amount falling due after more than one year	(28,014)	(9,214)
Net assets	2,518,029	2,215,807

Capital and reserves
Called up share capital	100	100
Profit and loss account	2,517,929	2,215,707
Shareholder's funds	2,518,029	2,215,807

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 31 March 2022 and were signed on its behalf by:

--------------------------------
Mrs Shabana Akhtar
Director

Medina View Limited
Notes to the Abridged Financial Statements
For the year ended 31 March 2021

General Information

Medina View Limited is a private company, limited by shares, registered in England and Wales, registration number 06773880, registration address Akhter House, 163 Castle Boulevard, Nottingham, Nottinghamshire, NG7 1FJ.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings	0% Reducing Balance
Fixtures and Fittings	18% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Factored debts

The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.

2.	Average number of employees Average number of employees during the year was 60 (2020 : 44).

Tangible fixed assets

Cost or valuation	Land and Buildings	Fixtures and Fittings	Total
	£	£	£
At 01 April 2020	1,639,335	4,410	1,643,745
Additions	-	-	-
Disposals	-	-	-
At 31 March 2021	1,639,335	4,410	1,643,745
Depreciation
At 01 April 2020	-	2,834	2,834
Charge for year	-	284	284
On disposals	-	-	-
At 31 March 2021	-	3,118	3,118
Net book values
Closing balance as at 31 March 2021	1,639,335	1,292	1,640,627
Opening balance as at 01 April 2020	1,639,335	1,576	1,640,911

Share Capital

Allotted, called up and fully paid	2021 £		2020 £
100 Ordinary shares of £1.00 each	100		100
	100		100

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)		Balance owed by/(owed to)
	2021 £	2020 £	2021 £	2020 £
Medina Ltd	0	0	565,000	565,000
Medina Solutions Limited	0	0	156,250	70,000
Wilford View Ltd	0	0	3,032	3,032
Dimplex Developments Ltd	0	0	417,000	417,000
Clifton View Ltd	0	0	26,454	26,454
Wollaton View Limited	0	0	914	(2,603)

Medina Ltd
The company has directors in common with Medina Ltd. At the year end, the company was owed an interest free loan of £565,000 from Medina Ltd, included within debtors due after more than one year.

Medina Solutions Limited
The director and shareholder Mrs Alliya Akhtar, is also a shareholder of Medina Developments Limited, which is the 100% parent company for Medina View Limited. During the year, the company made an interest free loan of £86,250 to Medina Solutions Limited. The year end balance is included within debtors due after more than one year

Wilford View Ltd
The company has directors in common with Wilford View Ltd. At the balance sheet date, the company was owed an interest free loan of £3,032 from Wilford View Ltd, included within debtors due after more than one year.

Dimplex Developments Ltd
The company has directors in common with Dimplex Developments Ltd. At the balance sheet date, the company was owed an interest free loan of £417,000 from Dimplex Developments Ltd, included within debtors due after more than one year.

Clifton View Ltd
The company has directors in common with Clifton View Ltd. At the balance sheet date, the company was owed an interest free loan of £26,454 from Clifton View Ltd, included within debtors due after more than one year.

Wollaton View Limited
The company has directors in common with Wollaton View Limited. During the year, the company made interest free loan repayments of £3,517 to Wollaton View Ltd. The year end balance is included within debtors due after more than one year.