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No description of principal activity
2019-06-19
Sage Accounts Production Advanced 2020 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
12059375
2019-06-19
2020-06-30
12059375
2020-06-30
12059375
bus:Director1
2019-06-19
2020-06-30
12059375
core:WithinOneYear
2020-06-30
12059375
core:RetainedEarningsAccumulatedLosses
2020-06-30
12059375
bus:Director1
2020-06-30
12059375
bus:SmallEntities
2019-06-19
2020-06-30
12059375
bus:AuditExempt-NoAccountantsReport
2019-06-19
2020-06-30
12059375
bus:AbridgedAccounts
2019-06-19
2020-06-30
12059375
bus:SmallCompaniesRegimeForAccounts
2019-06-19
2020-06-30
12059375
bus:PrivateLimitedCompanyLtd
2019-06-19
2020-06-30
COMPANY REGISTRATION NUMBER:
12059375
|
MERCURY GARMENT CARE LIMITED |
|
|
Filleted Unaudited Abridged Financial Statements |
|
|
MERCURY GARMENT CARE LIMITED |
|
|
Abridged Statement of Financial Position |
|
30 June 2020
Current assets
|
Debtors |
5,077 |
|
Cash at bank and in hand |
8,843 |
|
-------- |
|
13,920 |
|
|
|
Creditors: amounts falling due within one year |
5,494 |
|
-------- |
|
Net current assets |
8,426 |
|
------- |
|
Total assets less current liabilities |
8,426 |
|
------- |
|
Net assets |
8,426 |
|
------- |
|
|
Capital and reserves
|
Profit and loss account |
8,426 |
|
------- |
|
Shareholders funds |
8,426 |
|
------- |
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the Period ending 30 June 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 members have not required the company to obtain an audit of its abridged financial statements for the Period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.
|
MERCURY GARMENT CARE LIMITED |
|
|
Abridged Statement of Financial Position (continued) |
|
30 June 2020
These abridged financial statements were approved by the
board of directors
and authorised for issue on
16 June 2021
, and are signed on behalf of the board by:
Company registration number:
12059375
|
MERCURY GARMENT CARE LIMITED |
|
|
Notes to the Abridged Financial Statements |
|
Period from 19 June 2019 to 30 June 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 301 Kenton Lane, Harrow, HA3 8RR.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the Period amounted to
2
.
5.
Director's advances, credits and guarantees
During the Period the director entered into the following advances and credits with the company:
|
30 Jun 20 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Amit Sachdev |
– |
1,377 |
1,377 |
|
|
---- |
------- |
------- |
|
|
|
|
|
6.
Related party transactions
The company was under the control of Sejal Sachdev throughout the current and previous year. Sejal Sachdev is a majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.
