Merla Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 08583943 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Merla Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Farrell

REGISTERED OFFICE:

4 Endsleigh Street

London

WC1H 0DS

REGISTERED NUMBER:

08583943 (England and Wales)

FIXED ASSETS

Investment property

3

800,000

800,000

CURRENT ASSETS

Investments

4

5,000

5,000

Cash at bank

99,869

67,828

104,869

72,828

CREDITORS

Amounts falling due within one year

5

133,634

85,977

NET CURRENT LIABILITIES

(28,765

)

(13,149

)

TOTAL ASSETS LESS CURRENT LIABILITIES

771,235

786,851

CREDITORS

Amounts falling due after more than one year

6

(735,000

)

(735,000

)

PROVISIONS FOR LIABILITIES

(14,941

)

(14,941

)

NET ASSETS

21,294

36,910

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

21,194

36,810

SHAREHOLDERS' FUNDS

21,294

36,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 31 August 2017 and were signed by:

B Farrell - Director

1.	STATUTORY INFORMATION

Merla Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 represents net invoiced sales from property rental and property management

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

and 31 March 2017

800,000

NET BOOK VALUE

At 31 March 2017

800,000

At 31 March 2016

800,000

Cost or valuation at 31 March 2017 is represented by:

£

Valuation in 2016

74,705

Cost

725,295

800,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.17

31.3.16

£

£

Cost

725,296

725,296

Investment property was valued on an open market basis on 31 March 2017 by the director .

4.	CURRENT ASSET INVESTMENTS

31.3.17

31.3.16

£

£

Unlisted investments

5,000

5,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Other creditors

133,634

85,977

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Other creditors

735,000

735,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

735,000

735,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Other loans

735,000

735,000

8.	ULTIMATE CONTROLLING PARTY

The controlling party is B Farrell.