THE_MERLIN_PARTNERSHIP_LI - Accounts

THE MERLIN PARTNERSHIP LTD - Company Information

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Company Registration No. 07623658 (England and Wales)

THE MERLIN PARTNERSHIP LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2015

THE MERLIN PARTNERSHIP LIMITED

CONTENTS

PAGE

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

THE MERLIN PARTNERSHIP LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2015

- 1 -

2015

2014

Notes

FIXED ASSETS

Tangible assets

24,130

2,616

CURRENT ASSETS

Stocks

137,647

65,666

Debtors

385,667

310,736

Cash at bank and in hand

623

516

523,937

376,918

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

(527,224)

(376,897)

NET CURRENT LIABILITIES/(ASSETS)

(3,287)

TOTAL ASSETS LESS CURRENT LIABILITIES

20,843

2,637

CAPITAL AND RESERVES

Called up share capital

100

Profit and loss account

20,743

2,537

SHAREHOLDERS' FUNDS

20,843

2,637

THE MERLIN PARTNERSHIP LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2015

- 2 -

For the financial year ended 30 June 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their 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 30 March 2016

N Vidler

S Franklin

DIRECTOR

COMPANY REGISTRATION NO. 07623658

THE MERLIN PARTNERSHIP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2015

- 3 -

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).

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

TURNOVER

Turnover represents net invoiced sales of goods, excluding value added tax.

1.4

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:

Leasehold property improvements

- over the period of the lease

Plant and machinery etc

- 20% on cost

1.5

FOREIGN CURRENCY TRANSLATION

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

THE MERLIN PARTNERSHIP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 4 -

FIXED ASSETS

Tangible assets

COST

At 1 July 2014

4,324

Additions

26,261

At 30 June 2015

30,585

DEPRECIATION

At 1 July 2014

1,708

Charge for the year

4,747

At 30 June 2015

6,455

NET BOOK VALUE

At 30 June 2015

24,130

At 30 June 2014

2,616

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

The aggregate amount of creditors for which security has been given amounted to £256,453 (2014 - £134,739).

Fixed and floating charges over the whole or substantially whole of the business, assets and undertakings and the personal guarantees of the directors.

SHARE CAPITAL

2015

2014

ALLOTTED, CALLED UP AND FULLY PAID

100 Ordinary of £1 each

100

THE MERLIN PARTNERSHIP LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2015

- 5 -

RELATED PARTY RELATIONSHIPS AND TRANSACTIONS

DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date there were sums due to the directors as follows:

N Vidler - £108,500 (2014 - £125,500)

S Franklin - £14,000 (2014 - £14,000)

The directors have confirmed that loans due to them of £122,500 will not be requested for repayment until such time as the company has sufficient funds.

RELATED PARTY TRANSACTIONS

Kingscourt Ventures Limited owns 62% of the share capital of The Merlin Partnership Limited.

Kingscourt Ventures Limited have charged management charges during the period totalling £90,000 (18 months to 30 June 2014 - £123,665), along with recharged expenses of £18,307 (18 months to June 2014 - £16,646).

As at 30 June 2015 The Merlin Partnership Limited owed a total of £29,375 (2014 - £27,353) due to Kingscourt Ventures Limited.

Mr Vidler and Mr S Franklin are directors of both Kingscourt Ventures Limited and The Merlin Partnership Limited.