REGISTERED NUMBER: |
Mercia Group Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
REGISTERED NUMBER: |
Mercia Group Holdings Limited |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
Mercia Group Holdings Limited (Registered number: 01349222) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Mercia Group Holdings Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
76 High Street |
Brierley Hill |
West Midlands |
DY5 3AW |
Mercia Group Holdings Limited (Registered number: 01349222) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Mercia Group Holdings Limited (Registered number: 01349222) |
Balance Sheet - continued |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
Capital redemption reserve | ( |
) | ( |
) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
Mercia Group Holdings Limited (Registered number: 01349222) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Mercia Group Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Mercia Group Holdings Limited (Registered number: 01349222) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 June 2023 |
Additions |
Revaluations |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
Cost or valuation at 31 May 2024 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2014 | 229,134 | - | - | - | 229,134 |
Valuation in 2024 | 140,000 | - | - | - | 140,000 |
Cost | 130,866 | 288,586 | 5,866 | 29,700 | 455,018 |
500,000 | 288,586 | 5,866 | 29,700 | 824,152 |
If Freehold Land and Property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 130,866 | 130,866 |
Value of land in freehold land and buildings | 130,866 | 130,866 |
Freehold Land and Property were valued on an open market basis on 26 October 2016 by J N Dixon MRICS . |
Mercia Group Holdings Limited (Registered number: 01349222) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
The valuation was considered by the director of the company in May 2024 and he is of the opinion that the value at this date was £500,000. This valuation was based on his local knowledge of similar properties in the area that the freehold property is located. |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 June 2023 |
Disposals | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Mercia Group Holdings Limited (Registered number: 01349222) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 37,276 | 103,554 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Lloyds Bank PLC hold a legal charge over the company Freehold Land and Property |
10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2023 |
and 31 May 2024 |
11. | OFF-BALANCE SHEET ARRANGEMENTS |
The company owns all the ordinary share capital in Mercia Architectural Ltd. During this financial year, Mercia Architectural Ltd entered into a finance agreement with Lloyds bank PLC in respect of plant owned by the company. The amount outstanding on this finance agreement which is not included in the these financial statements was £39,458 (2023 - £55,242). |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Loan is interest free and repayable on demand. |