Merc Holdings Limited - Accounts to registrar (filleted) - small 18.2
Merc Holdings Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2021 |
| for |
| Merc Holdings Limited |
| Merc Holdings Limited (Registered number: 02025163) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2021 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Merc Holdings Limited (Registered number: 02025163) |
| Balance Sheet |
| 31 July 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| 700,000 | 700,000 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| 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. |
| Merc Holdings Limited (Registered number: 02025163) |
| Balance Sheet - continued |
| 31 July 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2021 |
| 1. | STATUTORY INFORMATION |
| Merc Holdings Limited is a |
| Registered number: | 02025163 |
| Registered office: |
| 40 Highview Avenue |
| Edgware, |
| HA8 9UA |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income receivable as it arises from investment properties. |
| Tangible fixed assets |
| Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
| 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. |
| 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. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST OR VALUATION |
| At 1 August 2020 |
| and 31 July 2021 |
| NET BOOK VALUE |
| At 31 July 2021 |
| At 31 July 2020 |
| In the opinion of the directors, the value at which the property is included in the accounts represents its true market value. |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2021 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 31 July 2021 is represented by: |
| Land and |
| buildings |
| £ |
| Cost | 419,126 |
| Revaluation surplus | 280,874 |
| 700,000 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Rent deposit (DPS) | 3,900 | 3,900 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Loans |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 2020 |
| £ £ |
| Loans 218,308 227,226 |
| In January 2020, the two loans that were outstanding at that date were consolidated into a single new loan of £239,000 , with monthly repayments of £1,425.88 and a lump sum on the fifth anniversary after drawdown based on a 20-year repayment profile. The loan carries interest on a floating rate basis with a minimum rate of 3%. The rate applicable at the year end date was 3.1%. |
| 8. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 24,504 | 24,504 |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2020 |
| Balance at 31 July 2021 |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2021 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary Shares | £1 | 100 | 100 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 August 2020 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 July 2021 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Sawan Shah. |