MERCHASYLUM LTD
MERCHASYLUM LTD
Registered number: 07769098
Unaudited Financial Statements
For The Year Ended
31 December 2022
Kenneth Lewis Partnership Ltd
22 Gelliwastad Road
Pontypridd
RCT
CF37 2BW
MERCHASYLUM LTD
Unaudited Financial Statements
For The Year Ended
31 December 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
MERCHASYLUM LTD
Balance Sheet
As At
31 December 2022
Balance Sheet
Registered number:
07769098
For the year ending 31 December 2022 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 5 |
|
|
||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 1,059,790 | 894,084 | |||
Page 1
Page 2
MERCHASYLUM LTD
Balance Sheet (continued)
As At
31 December 2022
On behalf of the board
|
Director
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
MERCHASYLUM LTD
Notes to the Financial Statements
For The Year Ended
31 December 2022
Notes to the Financial Statements
1.
General Information
MERCHASYLUM LTD
Registered number
07769098
is a limited by shares company incorporated in England & Wales. The Registered Office is Unit E Llantrisant Business Park, Llantrisant, Pontyclun, RCT, CF72 8LF.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Motor Vehicles |
|
2.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3.
Average Number of Employees
Average number of employees, including directors, during the year was:
| 2022 | 2021 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Manufacturing |
|
|
|
|
|
|
||
Page 3
Page 4
MERCHASYLUM LTD
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
4.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| Additions |
|
|
|
| Disposals |
|
( |
( |
| As at
|
|
|
|
| Depreciation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| Disposals |
|
( |
( |
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
5.
Stocks
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Materials |
|
|
|
|
|
|
||
6.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Other creditors |
|
|
|
| Pensions payable |
|
|
|
| Accruals and deferred income |
|
|
|
| Directors' loan accounts |
|
|
|
|
|
|
||
Page 4
Page 5
MERCHASYLUM LTD
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2022
8.
Share Capital
| 2022 | 2021 | ||
|---|---|---|---|
| Allotted, called up and fully paid | £ | £ | |
|
|
100 | 100 | |
9.
Dividends
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
|
|
|
| 75,000 | 75,000 | ||
10.
Ultimate Controlling Party
The company is controlled by
Jason Jones and Daniel Rawle
who own 100% of the issued share capital in the company.
Page 5