1 April 2023 v2024.10.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP049326232023-04-012024-03-31049326232024-03-31049326232023-03-3104932623core:WithinOneYear2024-03-3104932623core:WithinOneYear2023-03-3104932623core:ShareCapital2024-03-3104932623core:ShareCapital2023-03-3104932623core:RetainedEarningsAccumulatedLosses2024-03-3104932623core:RetainedEarningsAccumulatedLosses2023-03-3104932623bus:Director12023-04-012024-03-3104932623bus:RegisteredOffice2023-04-012024-03-3104932623core:NetGoodwill2023-04-012024-03-3104932623core:Goodwill2023-04-012024-03-31049326232022-04-012023-03-3104932623core:NetGoodwill2024-03-310493262312023-04-012024-03-3104932623countries:EnglandWales2023-04-012024-03-3104932623bus:AuditExemptWithAccountantsReport2023-04-012024-03-3104932623bus:PrivateLimitedCompanyLtd2023-04-012024-03-3104932623bus:SmallEntities2023-04-012024-03-3104932623bus:FullAccounts2023-04-012024-03-31
Company registration number:
04932623
Mercury Blinds Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2024
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1b Denby Dale Bus Park, Wakefield Road, Huddersfield, West Yorkshire, HD8 8QH, United Kingdom
Mercury Blinds Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Mercury Blinds Limited
Year ended
31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
Mercury Blinds Limited
for the year ended
31 March 2024
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Mercury Blinds Limited
, as a body, in accordance with the terms of our engagement letter dated 4 April 2023. Our work has been undertaken solely to prepare for your approval the
financial statements
of
Mercury Blinds Limited
and state those matters that we have agreed to state to the Board of Directors of
Mercury Blinds Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
Mercury Blinds Limited
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
Mercury Blinds Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Mercury Blinds Limited
. You consider that
Mercury Blinds Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Mercury Blinds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
G&T Accountancy Services Limited
Chartered Certified Accountants
Unit 1b Denby Dale Bus Park
Wakefield Road
Huddersfield
West Yorkshire
HD8 8QH
United Kingdom
Date:
9 April 2024
Mercury Blinds Limited
Statement of Financial Position
31 March 2024
20242023
Note££
Current assets    
Stocks -  
4,650
 
Cash at bank and in hand -  
17,728
 
-  
22,378
 
Creditors: amounts falling due within one year 6
(8,456
)
(23,398
)
Net current liabilities
(8,456
)
(1,020
)
Total assets less current liabilities (8,456 ) (1,020 )
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(8,457
)
(1,021
)
Shareholders deficit
(8,456
)
(1,020
)
For the year ending
31 March 2024
, 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 financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
9 April 2024
, and are signed on behalf of the board by:
Miss A Boyes
Director
Company registration number:
04932623
Mercury Blinds Limited
Notes to the Financial Statements
Year ended
31 March 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 1b Wakefield Road
,
Denby Dale
,
Huddersfield
,
HD8 8QH
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The director of the company is prepared to support the business during this period of going concern.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2023
and
31 March 2024
7,000
 
Amortisation  
At
1 April 2023
and
31 March 2024
7,000
 
Carrying amount  
At
31 March 2024
-  
At 31 March 2023 -  

6 Creditors: amounts falling due within one year

20242023
££
Taxation and social security -  
17
 
Other creditors
8,456
 
23,381
 
8,456
 
23,398
 

8 Controlling party

The company was under the control of Ms A Boyes throughout the current and previous year. Ms A Boyes is the managing director and majority shareholder.