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Registration number: 01875977

Mercury Systems Engineers Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Mercury Systems Engineers Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Mercury Systems Engineers Limited

Company Information

Director

Mr M J Keats

Registered office

Unit 34b, New Forest Enterprise Centre,
Rushington Business Park, Chapel Lane
Totton
Southampton
Hampshire
SO40 9LA

Accountants

Numeric Accounting
Chartered Certified Accountants
Suite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Mercury Systems Engineers Limited

(Registration number: 01875977)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

889

-

Current assets

 

Debtors

5

45,522

40,358

Cash at bank and in hand

 

27,213

36,608

 

72,735

76,966

Creditors: Amounts falling due within one year

6

(26,429)

(21,897)

Net current assets

 

46,306

55,069

Net assets

 

47,195

55,069

Capital and reserves

 

Called up share capital

7

10,000

10,000

Retained earnings

37,195

45,069

Shareholders' funds

 

47,195

55,069

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 July 2024
 

 

Mercury Systems Engineers Limited

(Registration number: 01875977)
Balance Sheet as at 30 April 2024 (continued)

.........................................
Mr M J Keats
Director

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 34b, New Forest Enterprise Centre,
Rushington Business Park, Chapel Lane
Totton
Southampton
Hampshire
SO40 9LA

These financial statements were authorised for issue by the director on 26 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Worshop Equipment

20% Straight Line

Computer Equipment

33% Straight Line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

24,591

-

24,591

Additions

-

1,000

1,000

At 30 April 2024

24,591

1,000

25,591

Depreciation

At 1 May 2023

24,591

-

24,591

Charge for the year

-

111

111

At 30 April 2024

24,591

111

24,702

Carrying amount

At 30 April 2024

-

889

889

5

Debtors

Current

2024
£

2023
£

Trade debtors

43,409

39,345

Prepayments

1,013

1,013

Other debtors

1,100

-

 

45,522

40,358

6

Creditors

Creditors: amounts falling due within one year

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

11,076

5,459

Taxation and social security

14,859

15,981

Other creditors

494

457

26,429

21,897

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000

       

8

Related party transactions

 

Mercury Systems Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

8

Related party transactions (continued)

Dividends paid to the director

2024
£

2023
£

Mr M J Keats

40,775

26,000