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Company registration number:00575535
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MERGER INVESTMENTS LIMITED
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 March 2015 |
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MERGER INVESTMENTS LIMITED |
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BALANCE SHEET |
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AS AT 31 March 2015
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2015 |
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2014 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Investments | | | | 159,875 | | | | 159,875 | |
Tangible assets | 2 | | | 815,839 | | | | 815,839 | |
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| | | | | 975,714 | | | | 975,714 | |
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CURRENT ASSETS |
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Debtors | | 0 | | | | 10,000 | | | | |
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| | | 0 | | | | 10,000 | | | |
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CREDITORS |
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Amounts falling due within one year | (526,290) | | | | (591,314) | | | |
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NET CURRENT ASSETS |
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(526,290) |
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(581,314) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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449,424 |
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394,400 |
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NET ASSETS |
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449,424 |
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394,400 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
3 |
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100 |
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100 |
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Profit and loss account |
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449,324 |
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394,300 |
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SHAREHOLDERS FUNDS |
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449,424 |
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394,400 |
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For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006 | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 8 July 2015 and signed on its behalf. | | | | | | | |
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.......................................................................... |
W J H Spooner |
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8 July 2015
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The annexed notes form part of these financial statements. | | | | | | | |
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MERGER INVESTMENTS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2015 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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| Turnover | | | | | | | | | |
| Turnover represents rents and income receivable from the company's investment properties exclusive of Value Added Tax. | |
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| Investments |
| Investment properties are included in the balance sheet at their open market existing use value, and are not depreciated. Although this accounting policy is in accordance with SSAP 19 'Accounting for Investment Properties', it is a departure from the general requirement of the Companies Act 2006 for all fixed assets with a finite life to be depreciated. In the opinion of the directors compliance with the accounting standard is necessary for the financial statements to give a true and fair view because the properties are held for investment rather than consumption, and therefore systematic annual depreciation would not be appropriate. Surpluses and temporary deficits arising on valuations are taken to revaluation reserve, whilst permanent diminutions in value are taken to the profit and loss account. Investments other than investment properties are stated at the lower of cost and net realisable value. | |
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| Fixed assets | | | | | | | | |
| No depreciation is provided on freehold land and buildings, as they are all investment properties (see investments policy below). | |
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| Deferred taxation | | | | | | | | |
| Deferred tax assets and liabilities have arisen from timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation. Full provision is made for all liabilities, and provision is made for assets to the extent that they are considered more likely than not to be recoverable in the foreseeable future. Provision is made using tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based upon rates enacted at the balance sheet date. | |
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3. |
Share capital |
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Allotted, issued and fully paid
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2015 |
2014 |
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£ |
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| Ordinary shares of £1 each | | 100 | 100 | | | |
| Total issued share capital | | 100 | 100 | | | |
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4. | Ultimate controlling party | | | | | | | | |
| The company is under the control of the directors. | |
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