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REGISTERED NUMBER: 04161597 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MERLIN FINANCIAL SERVICES LTD

MERLIN FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04161597)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MERLIN FINANCIAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P M Smith
A N Stanton
A P Collyer
D R Coyne





SECRETARY: D R Coyne





REGISTERED OFFICE: Camelot House
60 Barbourne Road
Worcester
Worcestershire
WR1 1JA





REGISTERED NUMBER: 04161597 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

MERLIN FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04161597)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,002 3,096

CURRENT ASSETS
Debtors 5 34,443 71,733
Cash at bank and in hand 266,615 286,416
301,058 358,149
CREDITORS
Amounts falling due within one year 6 101,578 119,430
NET CURRENT ASSETS 199,480 238,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,482

241,815

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 201,382 241,715
SHAREHOLDERS' FUNDS 201,482 241,815

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 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 Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by:





P M Smith - Director


MERLIN FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04161597)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Merlin Financial Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the gross commissions received on behalf of financial consultants for whom the company provides administration and back office services.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33.3% 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

MERLIN FINANCIAL SERVICES LTD (REGISTERED NUMBER: 04161597)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 8,578 27,024 35,602
DEPRECIATION
At 1 April 2022 8,177 24,329 32,506
Charge for year 62 1,032 1,094
At 31 March 2023 8,239 25,361 33,600
NET BOOK VALUE
At 31 March 2023 339 1,663 2,002
At 31 March 2022 401 2,695 3,096

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,923 71,733
Other debtors 5,520 -
34,443 71,733

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 71,306 91,707
Tax - 5,520
Social security and other taxes 465 238
Directors' current accounts 28,735 20,893
Accrued expenses 1,072 1,072
101,578 119,430

7. ULTIMATE CONTROLLING PARTY

The directors P M Smith, A N Stanton, A P Collyer and D R Coyne jointly control the company by virtue of their interest in 100% of the issued share capital.