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REGISTERED NUMBER: 11628526 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

MERCHANT REAL ESTATE LTD

MERCHANT REAL ESTATE LTD (REGISTERED NUMBER: 11628526)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MERCHANT REAL ESTATE LTD (REGISTERED NUMBER: 11628526)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 387,000 287,846

CURRENT ASSETS
Debtors 5 1,100 1,100
Cash at bank 5,747 15,746
6,847 16,846
CREDITORS
Amounts falling due within one year 6 45,513 53,855
NET CURRENT LIABILITIES (38,666 ) (37,009 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,334

250,837

CREDITORS
Amounts falling due after more than one
year

7

(247,264

)

(247,264

)

PROVISIONS FOR LIABILITIES 9 (24,789 ) -
NET ASSETS 76,281 3,573

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 74,365 -
Retained earnings 1,915 3,572
76,281 3,573

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 April 2024 and were signed by:





Mr R A Rejniak - Director


MERCHANT REAL ESTATE LTD (REGISTERED NUMBER: 11628526)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Merchant Real Estate Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11628526

Registered office: 11 Warwick Road
Whitstable
United Kingdom
Kent
CT5 1HY

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 statement of financial position date.


MERCHANT REAL ESTATE LTD (REGISTERED NUMBER: 11628526)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 287,846
Revaluations 99,154
At 31 March 2023 387,000
NET BOOK VALUE
At 31 March 2023 387,000
At 31 March 2022 287,846

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 99,154
Cost 287,846
387,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 287,846 287,846

Investment property was valued on an open market basis on 31 March 2023 by the director.

MERCHANT REAL ESTATE LTD (REGISTERED NUMBER: 11628526)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,100 1,100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 1,913 1,440
Other creditors 43,600 52,415
45,513 53,855

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 247,264 247,264

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 247,264 247,264

Bank loan is secured by way of fixed charge on the property of the company and contains a negative pledge.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 24,789 -

Deferred
tax
£   
Provided during year 24,789
Balance at 31 March 2023 24,789

10. RESERVES
Fair
value
reserve
£   
Movement during the year 74,365

At 31 March 2023 74,365

11. RELATED PARTY DISCLOSURES

Included in other creditors less than one year is an amount of £40,000 (2022: £50,000) due to a connected company with common control. The amount was interest-free and repayable on demand.