Mella Enterprises Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03351122 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

MELLA ENTERPRISES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M Stein

SECRETARY:

B K Hamilton-Smith

REGISTERED OFFICE:

Suite 112

23 King Street

London

SW1Y 6QY

REGISTERED NUMBER:

03351122 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

London

W21HY

CURRENT ASSETS

Debtors

1,707,574

3,802,081

Cash at bank

4,531,802

4,210,540

6,239,376

8,012,621

CREDITORS

Amounts falling due within one year

4,358,804

6,141,528

NET CURRENT ASSETS

1,880,572

1,871,093

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,880,572

1,871,093

CAPITAL AND RESERVES

Called up share capital

2

150,480

Profit and loss account

1,730,092

1,720,613

SHAREHOLDERS' FUNDS

1,880,572

1,871,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 13 January 2017 and were signed by:

M Stein - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Under a partnership agreement dated 1 June 1999 Barenbert Investments Limited of Wickham's Cay, 1 Road

Town, Tortola, British Virgin Islands, is entitled to receive the gross profit on all the transactions administered

on behalf of the partnership by Mella Enterprises Limited, less 5% (2015: 3%) of direct purchase costs. This is

included in cost of sales.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

The company under its partnership agreement with Barenbert Investments Limited is entitled to earn a gross

profit equivalent to 5% (2015: 3%) of direct purchase costs incurred on their behalf.

Turnover

Turnover represents net invoiced sales and commissions, exclusive of value added tax and is recognised on an

accruals basis.

Foreign currencies

Transactions in foreign currencies have been converted to Euros at the rate ruling on the date of the transaction.

Foreign currency assets and liabilities at the balance sheet date have been converted to Euros at the rate ruling on

that date. Transactions in the accounting period have arisen in Euros with the exception of the Share Capital

which has been converted at the rate of exchange of €1.5048 to £1 sterling. The Share Capital is therefore a

sterling debt of the company.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

€

100,000

Ordinary

€1.50

4

150,480