2 false false false false false false false false false true false false false false true false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 3,123 2,520 151 2,671 452 603 xbrli:pure xbrli:shares iso4217:GBP 07980033 2021-04-01 2022-03-31 07980033 2022-03-31 07980033 2021-03-31 07980033 2020-04-01 2021-03-31 07980033 2021-03-31 07980033 2020-03-31 07980033 bus:Director1 2021-04-01 2022-03-31 07980033 bus:Director2 2021-04-01 2022-03-31 07980033 core:WithinOneYear 2022-03-31 07980033 core:WithinOneYear 2021-03-31 07980033 core:ShareCapital 2022-03-31 07980033 core:ShareCapital 2021-03-31 07980033 core:RetainedEarningsAccumulatedLosses 2022-03-31 07980033 core:RetainedEarningsAccumulatedLosses 2021-03-31 07980033 bus:Director1 2021-03-31 07980033 bus:Director1 2022-03-31 07980033 bus:Director2 2021-03-31 07980033 bus:Director2 2022-03-31 07980033 bus:Director1 2020-03-31 07980033 bus:Director1 2021-03-31 07980033 bus:Director2 2020-03-31 07980033 bus:Director2 2021-03-31 07980033 bus:Director1 2020-04-01 2021-03-31 07980033 bus:Director2 2020-04-01 2021-03-31 07980033 bus:SmallEntities 2021-04-01 2022-03-31 07980033 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07980033 bus:FullAccounts 2021-04-01 2022-03-31 07980033 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07980033 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07980033 core:OfficeEquipment 2021-04-01 2022-03-31 07980033 core:OfficeEquipment 2022-03-31 07980033 core:OfficeEquipment 2021-03-31
COMPANY REGISTRATION NUMBER: 07980033
Mercolin Limited
Filleted Unaudited Financial Statements
31 March 2022
Mercolin Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
£
Fixed assets
Tangible assets
5
452
603
Current assets
Stocks
791,109
791,109
Cash at bank and in hand
1,700
6,174
---------
---------
792,809
797,283
Creditors: amounts falling due within one year
6
791,332
796,315
---------
---------
Net current assets
1,477
968
-------
-------
Total assets less current liabilities
1,929
1,571
-------
-------
Net assets
1,929
1,571
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,829
1,471
-------
-------
Shareholders funds
1,929
1,571
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 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 financial statements were approved by the board of directors and authorised for issue on 12 August 2022 , and are signed on behalf of the board by:
Mr C Parker
Director
Company registration number: 07980033
Mercolin Limited
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2021 and 31 March 2022
3,123
3,123
-------
-------
Depreciation
At 1 April 2021
2,520
2,520
Charge for the year
151
151
-------
-------
At 31 March 2022
2,671
2,671
-------
-------
Carrying amount
At 31 March 2022
452
452
-------
-------
At 31 March 2021
603
603
-------
-------
6. Creditors: amounts falling due within one year
2022
2021
£
£
Corporation tax
118
1,842
Social security and other taxes
255
264
Other creditors
790,959
794,209
---------
---------
791,332
796,315
---------
---------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Parker
( 592,195)
23,973
( 25,161)
( 593,383)
M Parker
( 201,014)
12,000
( 7,500)
( 196,514)
---------
--------
--------
---------
( 793,209)
35,973
( 32,661)
( 789,897)
---------
--------
--------
---------
2021
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Parker
( 581,555)
13,450
( 24,090)
( 592,195)
M Parker
( 203,514)
12,000
( 9,500)
( 201,014)
---------
--------
--------
---------
( 785,069)
25,450
( 33,590)
( 793,209)
---------
--------
--------
---------