Merc Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02025163 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2018

for

Merc Holdings Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

700,000

700,000

CURRENT ASSETS

Debtors

5

3,900

3,600

Cash at bank

2,027

5,531

5,927

9,131

CREDITORS

Amounts falling due within one year

6

60,643

31,230

NET CURRENT LIABILITIES

(54,716

)

(22,099

)

TOTAL ASSETS LESS CURRENT LIABILITIES

645,284

677,901

CREDITORS

Amounts falling due after more than one year

7

(242,229

)

(258,861

)

PROVISIONS FOR LIABILITIES

8

(24,504

)

(26,416

)

NET ASSETS

378,551

392,624

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

378,451

392,524

SHAREHOLDERS' FUNDS

378,551

392,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 19 November 2018 and were signed on its behalf by:

Arvind Raichand Shah - Director

1.	STATUTORY INFORMATION

Merc Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address are as below:

Registered number:

02025163

Registered office:

29, Chandos Avenue

Southgate

London

N14 7ES

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 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.

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 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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 August 2017

and 31 July 2018

700,000

NET BOOK VALUE

At 31 July 2018

700,000

At 31 July 2017

700,000

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 2018 is represented by:

Land and

buildings

£

Cost

419,126

Revaluation surplus

280,874

700,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

3,900

3,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Loans

15,000

13,611

Taxation and social security

3,343

6,622

Other creditors

42,300

10,997

60,643

31,230

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

There are two loans which are repayable in monthly instalments of £1,570 and £751 (inclusive of interest). Interest is charged

at 4.67% over base rate and 3.75% over base rate on the loans respectively. The loans are amortised over a 15 year profile.

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

24,504

26,416

Deferred

tax

£

Balance at 1 August 2017

26,416

Provided during year

(1,912

)

Balance at 31 July 2018

24,504

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Sawan Shah.