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REGISTERED NUMBER: SC630956 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Mermazing Swimming Ltd

Mermazing Swimming Ltd (Registered number: SC630956)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mermazing Swimming Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr B Dobbie
Mrs M Dobbie





REGISTERED OFFICE: 2 Balmoor Terrace
Peterhead
Aberdeenshire
AB42 1ER





REGISTERED NUMBER: SC630956 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

Mermazing Swimming Ltd (Registered number: SC630956)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,692 25,798

CURRENT ASSETS
Stocks 600 995
Debtors 5 1,093 1,093
Cash at bank 13,278 12,457
14,971 14,545
CREDITORS
Amounts falling due within one year 6 24,404 15,364
NET CURRENT LIABILITIES (9,433 ) (819 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,259

24,979

CREDITORS
Amounts falling due after more than one
year

7

(6,479

)

(9,470

)

PROVISIONS FOR LIABILITIES (3,112 ) (4,065 )
NET ASSETS 5,668 11,444

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,666 11,442
5,668 11,444

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Mermazing Swimming Ltd (Registered number: SC630956)

Balance Sheet - continued
31 May 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





Mr B Dobbie - Director


Mermazing Swimming Ltd (Registered number: SC630956)

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

1. STATUTORY INFORMATION

Mermazing Swimming Ltd 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 represents the amounts (excluding value added tax) derived from the provision of goods and services to customers. Revenue is recognised at the point goods are sold or services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenant Improvements - 20% on cost
Plant and machinery - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 ) .

Mermazing Swimming Ltd (Registered number: SC630956)

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

4. TANGIBLE FIXED ASSETS
Tenant Plant and Computer
Improvements machinery equipment Totals
£    £    £    £   
COST
At 1 June 2022 6,235 30,516 1,674 38,425
Additions 6,450 270 - 6,720
Disposals - (685 ) - (685 )
At 31 May 2023 12,685 30,101 1,674 44,460
DEPRECIATION
At 1 June 2022 1,834 9,931 862 12,627
Charge for year 2,537 4,202 553 7,292
Eliminated on disposal - (151 ) - (151 )
At 31 May 2023 4,371 13,982 1,415 19,768
NET BOOK VALUE
At 31 May 2023 8,314 16,119 259 24,692
At 31 May 2022 4,401 20,585 812 25,798

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 1,093 1,093

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 2,991 2,918
Trade creditors - 706
Taxation and social security 2,315 1,913
Other creditors 19,098 9,827
24,404 15,364

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 6,479 9,470