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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Median & Claridges Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2018 |
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for |
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Median & Claridges Limited |
Median & Claridges Limited (Registered number: 03116107) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Median & Claridges Limited |
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Company Information |
for the Year Ended 31 December 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Chartered Accountants |
Ground Floor, Bury House |
31 Bury Street |
London |
EC3A 5AR |
Median & Claridges Limited (Registered number: 03116107) |
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Balance Sheet |
31 December 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Median & Claridges Limited (Registered number: 03116107) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
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1. | STATUTORY INFORMATION |
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Median & Claridges Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
After considering the company's prospects, the directors have a reasonable expectation that the company has |
adequate resources to continue in operational existence for the foreseeable future. The company therefore |
continues to adopt the going concern basis in preparing its financial statements. |
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Turnover |
Turnover represents rents receivable relating to the year, net of VAT. |
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Investment property and depreciation |
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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Median & Claridges Limited (Registered number: 03116107) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2018 |
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Revaluations | (500,000 | ) |
At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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The investment property has been stated at fair value as determined by the directors. The historical cost of the |
investment property is £2,008,605 (2017: £2,008,605). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Corporation tax |
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VAT | 14,730 | 14,383 |
Other creditors |
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Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Median & Claridges Limited (Registered number: 03116107) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
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7. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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The bank loan is secured against the company's investment property with a fixed and floating charge over other |
assets of the company. The loan bears interest at a variable rate of 1.25% above LIBOR. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2018 |
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Deficit for the year | ( |
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Dividends | ( |
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At 31 December 2018 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £57,750 (2017: £74,750) were paid to the directors (including spouses). |