MERCEDIS_LTD - Accounts

MERCEDIS LTD - Company Information

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Company Registration No. 08841348 (England and Wales)

MERCEDIS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2015

MERCEDIS LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MERCEDIS LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

Notes

Fixed assets

Tangible assets

184

Current assets

Stocks

264,948

Debtors

184,419

Cash at bank and in hand

83,541

532,908

Creditors: amounts falling due within one year

(588,221)

Net current liabilities

(55,313)

Total assets less current liabilities

(55,129)

Provisions for liabilities

(37)

(55,166)

Capital and reserves

Called up share capital

Profit and loss account

(55,167)

Shareholder's funds

(55,166)

For the financial period ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its 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 financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 October 2015

Mr M Rowan

Director

Company Registration No. 08841348

MERCEDIS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company meets its day to day working capital requirements through loans from both the director and another related party.

The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. On the basis of discussions with the related party who continues to support the company it is expected that the company will continue it's operations for the foreseeable future.

However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the director consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the loan by the company's financiers.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33.3% Straight Line

Fixed assets

Tangible assets

Cost

At 13 January 2014

Additions

277

At 31 March 2015

277

Depreciation

At 13 January 2014

Charge for the period

At 31 March 2015

Net book value

At 31 March 2015

184

MERCEDIS LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE PERIOD ENDED 31 MARCH 2015

- 3 -

Share capital

2015

Allotted, called up and fully paid

1 Ordinary of £1 each

Related party relationships and transactions

Other Transactions

Directors Loan Account - Marc Rowan

During the period Marc Rowan loaned Mercedis Ltd a total of £165,697 and was repaid £25,487. At the period end there was a balance owed to Marc Rowan from Mercedis Ltd of £140,210. The director continues to pledge his support to the company.