Merkko LED Lighting Ltd - Period Ending 2020-09-30
Merkko LED Lighting Ltd - Period Ending 2020-09-30
Registration number:
Merkko LED Lighting Ltd
for the Year Ended 30 September 2020
Garner Street Business Park
Etruria
Stoke on Trent
Staffordshire
ST4 7BH
Merkko LED Lighting Ltd
Contents
Company Information |
|
Director's Report |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Merkko LED Lighting Ltd
Company Information
Director |
Ian Duckitt |
Registered office |
|
Accountants |
|
Page 1 |
Merkko LED Lighting Ltd
Director's Report for the Year Ended 30 September 2020
The director presents his report and the financial statements for the year ended 30 September 2020.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is the sale of LED lighting materials.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.............................................
Director
Page 2 |
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Merkko LED Lighting Ltd
for the Year Ended 30 September 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Merkko LED Lighting Ltd for the year ended 30 September 2020 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Merkko LED Lighting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Merkko LED Lighting Ltd and state those matters that we have agreed to state to the Board of Directors of Merkko LED Lighting Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Merkko LED Lighting Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Merkko LED Lighting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Merkko LED Lighting Ltd. You consider that Merkko LED Lighting Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Merkko LED Lighting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
J.Marsden
Etruria
Stoke on Trent
Staffordshire
ST4 7BH
Page 3 |
Merkko LED Lighting Ltd
(Registration number: 09467060)
Balance Sheet as at 30 September 2020
Note |
2020 |
2019 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
100 |
100 |
|
Profit and loss account |
(349,943) |
(302,087) |
|
Total equity |
(349,843) |
(301,987) |
For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 4 |
Merkko LED Lighting Ltd
(Registration number: 09467060)
Balance Sheet as at 30 September 2020
Approved and authorised by the
.....................................
Director
Page 5 |
Merkko LED Lighting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
Youngs Industrial Estate
Paices Hill
Aldermaston
Berkshire
RG7 4PW
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company has taken an exemption of FRS102, Paragraph 33.1A, such that disclosures need not be given of transactions that have taken place between two or more members of group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member..
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Page 6 |
Merkko LED Lighting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Short leasehold improvements |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
Merkko LED Lighting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Land and buildings |
Total |
|
Cost or valuation |
||
At 1 October 2019 |
|
|
At 30 September 2020 |
|
|
Depreciation |
||
At 1 October 2019 |
|
|
At 30 September 2020 |
|
|
Carrying amount |
||
At 30 September 2020 |
|
|
At 30 September 2019 |
|
|
Included within the net book value of land and buildings above is £11 (2019 - £955) in respect of short leasehold land and buildings.
Stocks |
2020 |
2019 |
|
Other inventories |
|
|
Debtors |
Page 8 |
Merkko LED Lighting Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020
2020 |
2019 |
|
Trade debtors |
|
|
Prepayments |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
|
Due within one year |
|||
Trade creditors |
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2020 |
2019 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Parent and ultimate parent undertaking |
Merkko Group Limited is under the control of Ian Duckitt.
Page 9 |