Merlin Extrusion Tool & Wire Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02658460 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

MERLIN EXTRUSION TOOL & WIRE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Harris

R J Harris

Mrs A E Harris

SECRETARY:

Mrs A E Harris

REGISTERED OFFICE:

Unit 9 Little Forge Road

Park Farm

Redditch

Worcestershire

B98 7SF

REGISTERED NUMBER:

02658460 (England and Wales)

ACCOUNTANTS:

Prince Accountancy

Chartered Certified Accountants

Charter House

Sandford Street

Lichfield

Staffordshire

WS13 6QA

FIXED ASSETS

Tangible assets

4

218,356

232,946

CURRENT ASSETS

Stocks

120

120

Debtors

5

16,797

13,460

Cash at bank

4,292

14,931

21,209

28,511

CREDITORS

Amounts falling due within one year

6

33,463

29,525

NET CURRENT LIABILITIES

(12,254

)

(1,014

)

TOTAL ASSETS LESS CURRENT LIABILITIES

206,102

231,932

CREDITORS

Amounts falling due after more than one year

7

141,444

130,117

NET ASSETS

64,658

101,815

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

24,784

24,784

Retained earnings

39,774

76,931

SHAREHOLDERS' FUNDS

64,658

101,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 26 January 2024 and were signed on its behalf by:

S J Harris - Director

R J Harris - Director

1.	STATUTORY INFORMATION

Merlin Extrusion Tool & Wire Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 December 2022

and 30 November 2023

160,000

158,145

318,145

DEPRECIATION

At 1 December 2022

-

85,199

85,199

Charge for year

-

14,590

14,590

At 30 November 2023

-

99,789

99,789

NET BOOK VALUE

At 30 November 2023

160,000

58,356

218,356

At 30 November 2022

160,000

72,946

232,946

Fixed assets include Freehold Property valued at £160,000.

5.

DEBTORS

30/11/23

30/11/22

£

£

Amounts falling due within one year:

Trade debtors

10,463

13,032

Other debtors

378

428

10,841

13,460

Amounts falling due after more than one year:

Other debtors

5,956

-

Aggregate amounts

16,797

13,460

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/23

30/11/22

£

£

Bank loans and overdrafts

5,000

5,000

Hire purchase contracts

18,831

17,958

Trade creditors

3,343

1,566

Taxation and social security

3,401

3,291

Other creditors

2,888

1,710

33,463

29,525

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/11/23

30/11/22

£

£

Bank loans

34,167

39,167

Hire purchase contracts

33,326

52,157

Amounts owed to associates

73,951

38,793

141,444

130,117

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

14,167

19,167

8.

RESERVES

Revaluation

reserve

£

At 1 December 2022

and 30 November 2023

24,784