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Registration number: 11134262

Mercury Research UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Mercury Research UK Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Mercury Research UK Limited

Company Information

Director

Mr G Alexander

Registered office

Whitefriars
Lewins Mead
Bristol
BS1 2NT

Accountants

MyAccountant.co.uk Limited
Whitefriars
Lewins Mead
Bristol
BS1 2NT

 

Mercury Research UK Limited

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Change of company name

The company changed its name from Nyas Technology Ltd to Mercury Research UK Limited effective from 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr G Alexander

Mr G A Middlemiss (Resigned 28 December 2023)

Principal activity

The principal activity of the company is Information technology consultancy activities

Small companies provision statement

This report has 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.

Approved and authorised by the director on 2 August 2024
 

.........................................
Mr G Alexander
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Mercury Research UK Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mercury Research UK Limited for the year ended 31 December 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Mercury Research UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mercury Research UK Limited. You consider that Mercury Research UK Limited is exempt from the statutory audit requirement for the year.






MyAccountant.co.uk Limited
Whitefriars
Lewins Mead
Bristol
BS1 2NT

7 August 2024

 

Mercury Research UK Limited

(Registration number: 11134262)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

11,579

3,885

Current assets

 

Debtors

5

110,147

82,564

Cash at bank and in hand

 

268,825

283,589

 

378,972

366,153

Creditors: Amounts falling due within one year

6

(416,780)

(452,532)

Net current liabilities

 

(37,808)

(86,379)

Net liabilities

 

(26,229)

(82,494)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(26,230)

(82,495)

Shareholders' deficit

 

(26,229)

(82,494)

For the financial year ending 31 December 2023 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 August 2024
 

.........................................
Mr G Alexander
Director

 

Mercury Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The company was formerly known as Nyas Technology Ltd.

The address of its registered office is:
Whitefriars
Lewins Mead
Bristol
BS1 2NT
UK

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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

Computer equipment

Straight line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Mercury Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 5 (2022 - 4).

 

Mercury Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

13,713

13,713

Additions

14,454

14,454

At 31 December 2023

28,167

28,167

Depreciation

At 1 January 2023

9,828

9,828

Charge for the year

6,760

6,760

At 31 December 2023

16,588

16,588

Carrying amount

At 31 December 2023

11,579

11,579

At 31 December 2022

3,885

3,885

5

Debtors

Current

2023
£

2022
£

Prepayments

-

1,847

Other debtors

110,147

80,717

 

110,147

82,564

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

119,553

434,576

Taxation and social security

15,953

-

Accruals and deferred income

235,620

300

Other creditors

45,654

17,656

416,780

452,532

 

Mercury Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Related party transactions

During the year, the company entered into transactions with its parent company,Tanius Technology LLC.

The parent's address is:
1499 Danville Blvd
Suite 210
Alamo
California
USA
94507

Income and receivables from related parties

2023

Parent
£

Receipt of services

1,944,571

2022

Parent
£

Receipt of services

2,011,569

Expenditure with and payables to related parties

2023

Parent
£

Rendering of services

235,620

2022

Parent
£

Rendering of services

4,316

Loans from related parties

2023

Parent
£

Total
£

At start of period

6,037

6,037

At end of period

6,037

6,037

 

Mercury Research UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2022

Parent
£

Total
£

At start of period

6,037

6,037

At end of period

6,037

6,037

9

Parent and ultimate parent undertaking

On 28 December 2023, there was a 100% change in the ownership of the company. Mr G Alexander (Director) acquired all of the share capital of Mercury Research UK Ltd from Tanius Technology LLC.

 The ultimate controlling party is Mr G Alexander.