MERCURY_WEALTH_MANAGEMENT - Accounts

MERCURY WEALTH MANAGEMENT LIMITED - Company Information

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Company Registration No. 04981483 (England and Wales)

MERCURY WEALTH MANAGEMENT LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

Evolution

Wynyard Park House

Wynyard Avenue

Wynyard

TS22 5TB

MERCURY WEALTH MANAGEMENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MERCURY WEALTH MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

25,339

12,821

Current assets

Debtors

12,845

36,104

Investments

76,799

66,360

Cash at bank and in hand

179,632

217,669

269,276

320,133

Creditors: amounts falling due within one year

(52,339)

(64,626)

Net current assets

216,937

255,507

Total assets less current liabilities

242,276

268,328

Creditors: amounts falling due after more than one year

(6,785)

(6,638)

Provisions for liabilities

(5,068)

(2,565)

230,423

259,125

Capital and reserves

Called up share capital

Profit and loss account

230,421

259,123

Shareholders' funds

230,423

259,125

MERCURY WEALTH MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 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 28 September 2016

Mr N P Bourke

Director

Company Registration No. 04981483

MERCURY WEALTH MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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 January 2015).

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

The turnover shown in the profit and loss account represents amounts invoiced during the year.

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:

Computer equipment

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.7

Pensions

The company operates a defined contribution scheme on behalf of its staff. Contributions payable are charged to the profit and loss in the year they are payable.

1.8

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.9

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MERCURY WEALTH MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

33,899

Additions

17,125

At 31 March 2016

51,024

Depreciation

At 1 April 2015

21,078

Charge for the year

4,607

At 31 March 2016

25,685

Net book value

At 31 March 2016

25,339

At 31 March 2015

12,821

Share capital

2016

2015

Allotted, called up and fully paid

2 ordinary shares of £1 each