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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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Meritel Holding Limited |
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Unaudited Financial Statements for the Year Ended 31 October 2021 |
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for |
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Meritel Holding Limited |
Meritel Holding Limited (Registered number: 12942201) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Meritel Holding Limited |
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Company Information |
for the Year Ended 31 October 2021 |
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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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ACCOUNTANTS: |
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15a Harbour Road |
Inverness |
INVERNESS-SHIRE |
IV1 1SY |
Meritel Holding Limited (Registered number: 12942201) |
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Balance Sheet |
31 October 2021 |
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Notes | € |
FIXED ASSETS |
Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The directors acknowledge their 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. |
Meritel Holding Limited (Registered number: 12942201) |
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Balance Sheet - continued |
31 October 2021 |
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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 and authorised for issue on
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Meritel Holding Limited (Registered number: 12942201) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2021 |
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1. | STATUTORY INFORMATION |
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Meritel Holding Limited is a
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The presentation currency of the financial statements is the Euro (€). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit and loss. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Foreign currencies |
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
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At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate when fair value was determined. |
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Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL. |
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5. | FIXED ASSET INVESTMENTS |
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Unquoted investments are stated at cost. Any surplus or deficit arising on the disposal of investments is transferred to the statement of comprehensive income. |
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The company owns 10% of the equity share capital of EnvolAfrique LLC. |
Meritel Holding Limited (Registered number: 12942201) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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The funds receivable from EnvolAfrique LLC relate to a profit allocation not yet received. |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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The shareholder loans payable are unsecured, interest free and repayable on demand. |