Merlin Consultancy (Global) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: SC493983 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

MERLIN CONSULTANCY (GLOBAL) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W Kane

REGISTERED OFFICE:

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

REGISTERED NUMBER:

SC493983 (Scotland)

ACCOUNTANTS:

Profit Counts Ltd

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

FIXED ASSETS

Tangible assets

3

456

704

CURRENT ASSETS

Debtors

4

62,778

37,174

Cash at bank and in hand

48,637

1,980

111,415

39,154

CREDITORS

Amounts falling due within one year

5

(112,490

)

(17,080

)

NET CURRENT (LIABILITIES)/ASSETS

(1,075

)

22,074

TOTAL ASSETS LESS CURRENT LIABILITIES

(619

)

22,778

PROVISIONS FOR LIABILITIES

6

-

(141

)

NET (LIABILITIES)/ASSETS

(619

)

22,637

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(719

)

22,537

SHAREHOLDERS' FUNDS

(619

)

22,637

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 20 December 2017 and were signed by:

W Kane - Director

1.	STATUTORY INFORMATION

Merlin Consultancy (Global) Ltd is a private company, limited by shares , registered in Scotland. 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.

Going Concern

Despite the company reporting a loss for the year and having net liabilities at the balance sheet date the position

is fully supported by inter company loans. The directors are of the opinion this support will continue for at least

the next 12 months and the company will continue to meet its liabilities when they fall due. As a result the

financial statements have been prepared on a going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services and contract costs

represents the value of services and contract costs provided under contracts to the extent that there is a right to

consideration and is recorded at the value of the consideration due. Where the contract has only been partially

completed at the balance sheet date turnover represents the value of the service and contract costs provided to

date based on a proportion of the total contract value. Where payments are received from customers in

advance of services and contract cost provided, the amounts are recorded as Deferred Income and included as

part of Creditors due within one year.

Tangible fixed assets

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

Computer equipment

-

25% on cost

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.

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

and 31 March 2017

994

DEPRECIATION

At 1 April 2016

290

Charge for year

248

At 31 March 2017

538

NET BOOK VALUE

At 31 March 2017

456

At 31 March 2016

704

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

61,983

-

Tax

469

-

VAT

-

10,597

Prepayments and accrued income

326

26,577

62,778

37,174

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

99,326

3,657

Taxation and social security

455

469

Other creditors

12,709

12,954

112,490

17,080

6.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

-

141

Deferred

tax

£

Balance at 1 April 2016

141

Credit to Income Statement during year

(141

)

Balance at 31 March 2017

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary shares

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2016

22,537

Deficit for the year

(23,256

)

At 31 March 2017

(719

)

9.	RELATED PARTY DISCLOSURES

SC&T Global Ltd

A company in which Mr E D Gilmour is a majority shareholder.

During the year the company has sales to SC&T Global Ltd of £58,168 (2015 - £112,779) and costs of £72,913

(2015 - £14,827). These transactions were at normal commercial terms for full market value.

As at 31 March 2016 £Nil (2015 - £116,232) was due from SC&T Global Ltd and included in trade debtors. As at

31 March 2016 £1,574 (2015 - £23,101) was due to SC&T Global Ltd and included in trade creditors.

EDG Consultancy Limited

A company in which a shareholder has significant influence.

During the year consultancy fees of £48,000 (2015 - 24,000) were paid to EDG Consultancy Limited. At the year

end the balance owing to EDG Consultancy Limited was £Nil (2015 - £28,800).

McDonald Kane Limited

A company in which a shareholder has significant influence.

During the year consultancy fees of £48,000 (2015 - £24,000) were paid to McDonald Kane Limited. At the year

end the balance owing to McDonald Kane was £Nil (2015 - £28,800).

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by E D Gilmour and W Kane by virtue of their shareholdings.