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REGISTERED NUMBER: 10582549 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Mercian Kingdom Ltd

Mercian Kingdom Ltd (Registered number: 10582549)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mercian Kingdom Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: L M Jackson





REGISTERED OFFICE: c/o Locke Williams Associates LLP
Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL





REGISTERED NUMBER: 10582549 (England and Wales)





ACCOUNTANTS: Locke Williams Associates LLP
Chartered Accountants
c/o Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL

Mercian Kingdom Ltd (Registered number: 10582549)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,333,905 1,226,887

CURRENT ASSETS
Debtors 5 31,821 33,758
Cash at bank 20,897 37,868
52,718 71,626
CREDITORS
Amounts falling due within one year 6 1,196,198 1,153,073
NET CURRENT LIABILITIES (1,143,480 ) (1,081,447 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,425

145,440

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 190,325 145,340
SHAREHOLDERS' FUNDS 190,425 145,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 13 October 2023 and were signed by:





L M Jackson - Director


Mercian Kingdom Ltd (Registered number: 10582549)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Mercian Kingdom Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The policies adopted for the recognition of turnover are as follows:

Rents receivableTurnover from property rentals is recognised when receivable in accordance
with the lease agreements.

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.

The methods and significant assumptions used to ascertain the fair value of £1,333,905 and fair value movement included in the income statement for the period are as follows:

Property valuations for properties acquired in the reporting period have been referenced to freely available guide prices at the year end date. These guide prices assume an open market sale and average market conditions in the specific property location.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

Mercian Kingdom Ltd (Registered number: 10582549)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,226,887
Additions 107,018
At 31 January 2023 1,333,905
NET BOOK VALUE
At 31 January 2023 1,333,905
At 31 January 2022 1,226,887

On review of the general market conditions prevailing at the balance sheet date, the director is of the opinion that the fair value of investment properties is not materially different from historic cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 184 184
Amounts owed by participating interests 31,483 31,483
Other debtors 154 2,091
31,821 33,758

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Taxation and social security 10,552 8,399
Other creditors 1,185,646 1,144,674
1,196,198 1,153,073

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 100