Merc Holdings Limited - Accounts to registrar - small 16.3
Merc Holdings Limited - Accounts to registrar - small 16.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2016 |
| for |
| Merc Holdings Limited |
| Merc Holdings Limited (Registered number: 02025163) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Merc Holdings Limited |
| Company Information |
| for the Year Ended 31 July 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Merc Holdings Limited (Registered number: 02025163) |
| Balance Sheet |
| 31 July 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors | 3 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 4 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Revaluation reserve | 9 |
| Profit and loss account | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| Merc Holdings Limited (Registered number: 02025163) |
| Balance Sheet - continued |
| 31 July 2016 |
| The financial statements were approved by the Board of Directors on by: |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2016 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Although the company has net current liabilities of £116,438 (2015: £113,484), the accounts have been prepared |
| on a going concern basis. The directors consider this basis to be appropriate as included in the company's current |
| liabilities is £65,782 (2015: £73,102) owed to the directors and £25,000 owed to a family member of the |
| directors all of whom have agreed not to demand repayment. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
| 2015). |
| Turnover |
| Turnover represents rental income receivable as it arises from investment properties. |
| Tangible fixed assets |
| Investment properties are included in the balance sheet at their open market value. Depreciation is provided only |
| on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
| Deferred tax |
| Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the |
| extent that, in opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in |
| the foreseeable future. |
| 2. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST OR VALUATION |
| At 1 August 2015 |
| and 31 July 2016 |
| NET BOOK VALUE |
| At 31 July 2016 |
| At 31 July 2015 |
| In the opinion of the directors, the value at which the property is included in the accounts represents its true |
| market value. |
| Cost or valuation at 31 July 2016 is represented by: |
| Land and |
| buildings |
| £ |
| Cost | 419,126 |
| Revaluation surplus | 235,602 |
| 654,728 |
| 3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Other debtors | 3,600 | 3,600 |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2016 |
| 4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Loans |
| Corporation tax payable |
| Directors Current Account |
| Rent Deposits held | 7,600 | 7,600 |
| Accrued expenses | 700 | 700 |
| 5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The loan is repayable in monthly instalments of £1,648 (inclusive of interest). Interest is charged at 4.71% over |
| base rate. The loan is amortised over a 15 year profile. |
| 6. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank and other loans |
| Bank and other loans | 25,000 | 25,000 |
| 35,000 | 35,000 |
| Amounts falling due between one and two years: |
| Loans-1-5 years |
| 7. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2015 |
| Balance at 31 July 2016 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary Shares | £1 |
| Merc Holdings Limited (Registered number: 02025163) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2016 |
| 9. | RESERVES |
| Profit |
| and loss | Revaluation |
| account | reserve | Totals |
| £ | £ | £ |
| At 1 August 2015 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 July 2016 |
| 10. | ULTIMATE CONTROLLING PARTY |