MERLIN GREAT NORTHERN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
Merlin Great Northern Limited is a private company limited by shares and incorporated in England. Its registered office is White Cottage, Woodland Drive, East Horsley, Surrey, United Kingdom, KT24 5AN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
As shown in the financial statements, the company has negative profit and loss reserves of £3,803,224 (2022 - £3,803,224). The company continues to be supported by group companies. The director's of the group holding company have confirmed that the support will continue for the foreseeable future. For this reason, the company has decided to prepare the accounts using the going concern basis.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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