MERCO (TYRE MANAGEMENT) LTD

MERCO (TYRE MANAGEMENT) LTD

MERCO (TYRE MANAGEMENT) LTD - Company Information

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Company Registration No. 5810677 (England and Wales)
MERCO (TYRE MANAGEMENT) LTD Unaudited accounts for the year ended 31 March 2021
MERCO (TYRE MANAGEMENT) LTD Unaudited accounts Contents
Page
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MERCO (TYRE MANAGEMENT) LTD Company Information for the year ended 31 March 2021
Director
Maurice Raine
Secretary
Susan Raine
Company Number
5810677 (England and Wales)
Registered Office
C/O MERCO (TYRE MANAGEMENT) LTD DEAN & CHAPTER INDUSTRIAL ESTATE FERRYHILL CO DURHAM DL17 8LN
Accountants
Hillman & Co Technology Court Bradbury Road NEWTON AYCLIFFE Co. Durham DL5 6DA
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MERCO (TYRE MANAGEMENT) LTD Statement of financial position as at 31 March 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
104,205 
73,671 
Investments
5
2,400 
- 
106,605 
73,671 
Current assets
Debtors
6
183,968 
199,384 
Cash at bank and in hand
138,488 
82,527 
322,456 
281,911 
Creditors: amounts falling due within one year
7
(302,039)
(283,928)
Net current assets/(liabilities)
20,417 
(2,017)
Total assets less current liabilities
127,022 
71,654 
Creditors: amounts falling due after more than one year
8
(50,000)
- 
Net assets
77,022 
71,654 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
77,020 
71,652 
Shareholders' funds
77,022 
71,654 
For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 January 2022 and were signed on its behalf by
Maurice Raine Director Company Registration No. 5810677
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MERCO (TYRE MANAGEMENT) LTD Notes to the Accounts for the year ended 31 March 2021
1
Statutory information
MERCO (TYRE MANAGEMENT) LTD is a private company, limited by shares, registered in England and Wales, registration number 5810677. The registered office is C/O MERCO (TYRE MANAGEMENT) LTD, DEAN & CHAPTER INDUSTRIAL ESTATE, FERRYHILL, CO DURHAM, DL17 8LN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
15% Straight Line
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
15% Straight Line
Computer equipment
25% Straight Line
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2020
94,896 
90,323 
203,106 
31,893 
7,807 
428,025 
Additions
29,074 
9,621 
22,321 
- 
- 
61,016 
At 31 March 2021
123,970 
99,944 
225,427 
31,893 
7,807 
489,041 
Depreciation
At 1 April 2020
72,466 
90,324 
165,516 
18,243 
7,805 
354,354 
Charge for the year
9,080 
1,001 
17,251 
3,150 
- 
30,482 
At 31 March 2021
81,546 
91,325 
182,767 
21,393 
7,805 
384,836 
Net book value
At 31 March 2021
42,424 
8,619 
42,660 
10,500 
2 
104,205 
At 31 March 2020
22,430 
(1)
37,590 
13,650 
2 
73,671 
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MERCO (TYRE MANAGEMENT) LTD Notes to the Accounts for the year ended 31 March 2021
5
Investments
Other investments 
£ 
Valuation at 1 April 2020
- 
Additions
2,708 
Fair value adjustments
(308)
Valuation at 31 March 2021
2,400 
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
183,968 
199,384 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
1,845 
- 
Trade creditors
235,404 
172,396 
Taxes and social security
2,790 
27,942 
Other creditors
608 
224 
Loans from directors
14,642 
47,866 
Accruals
46,750 
35,500 
302,039 
283,928 
8
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
50,000 
- 
9
Average number of employees
During the year the average number of employees was 4 (2020: 3).
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