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REGISTERED NUMBER: SC498855 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Merchant City Estates Limited

Merchant City Estates Limited (Registered number: SC498855)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Merchant City Estates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: C Byrne





SECRETARY: Mrs S Byrne





REGISTERED OFFICE: 357 Shottskirk Road
Shotts
Lanarkshire
ML7 4ET





REGISTERED NUMBER: SC498855 (Scotland)





ACCOUNTANTS: Williams & Company
191 Station Road
Shotts
North Lanarkshire
ML7 4BA

Merchant City Estates Limited (Registered number: SC498855)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property rental.

DIRECTOR
C Byrne held office during the whole of the period from 1 April 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





C Byrne - Director


11 October 2023

Merchant City Estates Limited (Registered number: SC498855)

Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 10,231 9,905

Cost of sales 202 335
GROSS PROFIT 10,029 9,570

Administrative expenses 10,328 10,327
OPERATING LOSS and
LOSS BEFORE TAXATION (299 ) (757 )

Tax on loss - -
LOSS FOR THE FINANCIAL YEAR (299 ) (757 )

Merchant City Estates Limited (Registered number: SC498855)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 290,850 197,102

CURRENT ASSETS
Cash at bank 925 342

CREDITORS
Amounts falling due within one year 6 123,898 29,268
NET CURRENT LIABILITIES (122,973 ) (28,926 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,877

168,176

CREDITORS
Amounts falling due after more than
one year

7

167,500

167,500
NET ASSETS 377 676

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 376 675
377 676

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 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.

Merchant City Estates Limited (Registered number: SC498855)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 11 October 2023 and were signed by:





C Byrne - Director


Merchant City Estates Limited (Registered number: SC498855)

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

1. STATUTORY INFORMATION

Merchant City Estates Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at 25% on reducing balance in order to write off each asset over its estimated useful life. No Depreciation is charged on Land and Building.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Merchant City Estates Limited (Registered number: SC498855)

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

4. OPERATING LOSS

The operating loss is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets 852 1,137

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 193,692 7,331 201,023
Additions 94,600 - 94,600
At 31 March 2023 288,292 7,331 295,623
DEPRECIATION
At 1 April 2022 - 3,921 3,921
Charge for year - 852 852
At 31 March 2023 - 4,773 4,773
NET BOOK VALUE
At 31 March 2023 288,292 2,558 290,850
At 31 March 2022 193,692 3,410 197,102

Included in cost of land and building is freehold property of £288,292 which is not deprecated.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 123,898 29,268

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 167,500 167,500