Company Registration No. 6450759 (England and Wales)
MERELLA LIMITED
Unaudited accounts
for the year ended 31 December 2023
MERELLA LIMITED
Unaudited accounts
Contents
MERELLA LIMITED
Company Information
for the year ended 31 December 2023
Director
Mr Haydar Karagoz
Company Number
6450759 (England and Wales)
Registered Office
40 WILLOUGHBY ROAD
LONDON
N8 0JG
England
Accountants
Tatar Brothers & Co Accountants
40 Willoughby Road
Hornsey
London
N8 0JG
MERELLA LIMITED
Statement of financial position
as at 31 December 2023
Intangible assets
7,083
14,433
Tangible assets
21,731
24,729
Inventories
145,741
109,540
Cash at bank and in hand
21,303
36,080
Creditors: amounts falling due within one year
(191,416)
(180,145)
Net current liabilities
(19,372)
(26,742)
Total assets less current liabilities
9,442
12,420
Creditors: amounts falling due after more than one year
(9,600)
(7,684)
Net (liabilities)/assets
(158)
4,736
Called up share capital
1
1
Profit and loss account
(159)
4,735
Shareholders' funds
(158)
4,736
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 September 2024 and were signed on its behalf by
Mr Haydar Karagoz
Director
Company Registration No. 6450759
MERELLA LIMITED
Notes to the Accounts
for the year ended 31 December 2023
MERELLA LIMITED is a private company, limited by shares, registered in England and Wales, registration number 6450759. The registered office is 40 WILLOUGHBY ROAD, LONDON, N8 0JG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
15% reducing balance method
Fixtures & fittings
15% reducing balance method
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 or loss.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
MERELLA LIMITED
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill
Other
Total
At 1 January 2023
89,000
21,250
110,250
At 31 December 2023
89,000
21,250
110,250
At 1 January 2023
83,067
12,750
95,817
Charge for the year
5,933
1,417
7,350
At 31 December 2023
89,000
14,167
103,167
At 31 December 2023
-
7,083
7,083
At 31 December 2022
5,933
8,500
14,433
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
4,740
36,200
14,273
55,213
At 31 December 2023
4,740
36,200
14,273
55,213
At 1 January 2023
-
17,750
12,734
30,484
Charge for the year
-
2,767
231
2,998
At 31 December 2023
-
20,517
12,965
33,482
At 31 December 2023
4,740
15,683
1,308
21,731
At 31 December 2022
4,740
18,450
1,539
24,729
Amounts falling due within one year
Accrued income and prepayments
5,000
5,000
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
65,200
63,549
Obligations under finance leases and hire purchase contracts
1,227
6,509
Trade creditors
9,850
7,981
Taxes and social security
5,854
6,649
Loans from directors
109,122
95,310
MERELLA LIMITED
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
7,684
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 7 (2022: 7).