M.e.r.g. Limited - Accounts to registrar (filleted) - small 18.2
M.e.r.g. Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
| FOR |
| M.E.R.G. LIMITED |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 30 SEPTEMBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| M.E.R.G. LIMITED |
| COMPANY INFORMATION |
| for the year ended 30 SEPTEMBER 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANT: |
| 155 Wellingborough Road |
| Rushden |
| Northamptonshire |
| NN10 9TB |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| BALANCE SHEET |
| 30 SEPTEMBER 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 30 SEPTEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| M.e.r.g. Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| The company`s turnover represents the value of rental income received during the year. |
| Investment property |
| Investment properties are revalued annually at fair value and any surplus or deficit is recognised through the profit and loss account. No depreciation is provided in respect of investment properties. |
| Government grants and loans |
| During the year, M.E.R.G Limited took out a government Covid-19 Bounce Back Loan to the value of £20,000, with interest being charged at 2.5%. For the first 12 months of the loan, the UK Government will pay interest due under this loan to the bank. This is known as the Business Interruption Payment. |
| Starting 13 months after the date of first drawdown, M.E.R.G Limited will pay 60 monthly instalments comprising of capital and interest. |
| Covid-19 |
| The accounting period was affected by the Coronavirus pandemic, which has impacted businesses worldwide. |
| At the date of signing the company had not seen any negative effects as a result of the pandemic, and all rent due has been paid in full. |
| The virus continues to have a major impact on UK society, and the company took out a Bounce Back Loan in anticipation of the economic situation worsening and tenants not being able to pay rent. The directors intend to pay back the loan in full if it is not needed within the 12 months following the year end. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2019 |
| Disposals | ( |
) |
| At 30 September 2020 |
| NET BOOK VALUE |
| At 30 September 2020 |
| At 30 September 2019 |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 SEPTEMBER 2020 |
| 4. | INVESTMENT PROPERTY - continued |
| Fair value at 30 September 2020 is represented by: |
| £ |
| Valuation in 2017 | (15,000 | ) |
| Valuation in 2016 | 662,026 |
| Cost | 684,974 |
| 1,332,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2020 | 2019 |
| £ | £ |
| Cost | 764,974 | 764,974 |
| Investment property was valued on a fair value basis on 30 September 2017 by the directors . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| M.E.R.G. LIMITED (REGISTERED NUMBER: 02843603) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 30 SEPTEMBER 2020 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The bank loans are secured on the properties to which they relate. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| "A" | £1 | 450 | 450 |
| "B" | £1 | 50 | 50 |
| 500 | 500 |
| . |