Mermaid Studios Interactive Limited 04051440 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is software design Digita Accounts Production Advanced 6.30.9574.0 true true 04051440 2022-04-01 2023-03-31 04051440 2023-03-31 04051440 bus:OrdinaryShareClass1 2023-03-31 04051440 bus:Original 2023-03-31 04051440 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04051440 core:OtherPropertyPlantEquipment 2023-03-31 04051440 bus:SmallEntities 2022-04-01 2023-03-31 04051440 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04051440 bus:FullAccounts 2022-04-01 2023-03-31 04051440 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04051440 bus:RegisteredOffice 2022-04-01 2023-03-31 04051440 bus:Director2 2022-04-01 2023-03-31 04051440 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04051440 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04051440 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 04051440 core:PlantMachinery 2022-04-01 2023-03-31 04051440 countries:EnglandWales 2022-04-01 2023-03-31 04051440 2022-03-31 04051440 core:OtherPropertyPlantEquipment 2022-03-31 04051440 2021-04-01 2022-03-31 04051440 2022-03-31 04051440 bus:OrdinaryShareClass1 2022-03-31 04051440 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04051440 core:OtherPropertyPlantEquipment 2022-03-31 04051440 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04051440

Mermaid Studios Interactive Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Mermaid Studios Interactive Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mermaid Studios Interactive Limited

Company Information

Director

Mr Brian Tomczyk

Registered office

c/o National Business Register Group Ltd
Ground Floor
3 Sovereign Court
Birmingham
B1 3JR

Accountants

Peter Saxton & Co.
Accountants
362 Church Road
London
SW19 2QF

 

Mermaid Studios Interactive Limited

(Registration number: 04051440)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

864

1,729

Current assets

 

Cash at bank and in hand

 

254,991

187,056

Creditors: Amounts falling due within one year

5

(25,483)

(31,412)

Net current assets

 

229,508

155,644

Net assets

 

230,372

157,373

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

230,370

157,371

Shareholders' funds

 

230,372

157,373

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 November 2023
 

.........................................
Mr Brian Tomczyk
Director

 

Mermaid Studios Interactive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o National Business Register Group Ltd
Ground Floor
3 Sovereign Court
Birmingham
B1 3JR

The principal place of business is:
25 James Close
Southgate Court
Derby
Derbyshire
DE1 1DP

These financial statements were authorised for issue by the director on 16 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mermaid Studios Interactive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

flat rate 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Mermaid Studios Interactive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

3,024

3,024

Disposals

(610)

(610)

At 31 March 2023

2,414

2,414

Depreciation

At 1 April 2022

1,295

1,295

Charge for the year

865

865

Eliminated on disposal

(610)

(610)

At 31 March 2023

1,550

1,550

Carrying amount

At 31 March 2023

864

864

At 31 March 2022

1,729

1,729

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

18,623

15,701

Other creditors

6,860

15,711

25,483

31,412

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

7

Dividends

Interim dividends paid

 

Mermaid Studios Interactive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

   

2023
£

 

2022
£

Interim dividend of £2,735.00 (2022 - £1,865.00) per each Ordinary shares

 

5,470

 

3,730

         

8

Related party transactions

Key management compensation

2023
£

2022
£

Salaries and other short term employee benefits

9,100

8,840

 

Mermaid Studios Interactive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Dividends paid to the director

   

2023
£

 

2022
£

Mr Brian Tomczyk

       

 

5,470

 

3,730