Company Registration No. 08883927 (England and Wales)
Downs Merrifield Limited
Unaudited accounts
for the year ended 31 March 2024
Downs Merrifield Limited
Unaudited accounts
Contents
Downs Merrifield Limited
Company Information
for the year ended 31 March 2024
Directors
N Downs
C Merrifield
R Boltman
Company Number
08883927 (England and Wales)
Registered Office
5 CEFN COED CRESCENT
CARDIFF
CF23 6AT
WALES
Accountants
STAS Ltd
253 Cowbridge Road West
Cardiff
CF5 5TD
Downs Merrifield Limited
Accountants' report
Accountants' report to the board of directors of Downs Merrifield Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Downs Merrifield Limited for the year ended
31 March 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Downs Merrifield Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Downs Merrifield Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Downs Merrifield Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Downs Merrifield 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 Downs Merrifield Limited. You consider that Downs Merrifield Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Downs Merrifield Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
STAS Ltd
253 Cowbridge Road West
Cardiff
CF5 5TD
22 September 2024
Downs Merrifield Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,566
5,294
Cash at bank and in hand
5,136
2,776
Creditors: amounts falling due within one year
(35,509)
(33,366)
Net current assets/(liabilities)
1,036
(11,556)
Net assets/(liabilities)
3,602
(6,262)
Called up share capital
11
11
Profit and loss account
3,591
(6,273)
Shareholders' funds
3,602
(6,262)
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 22 September 2024 and were signed on its behalf by
N Downs
Director
Company Registration No. 08883927
Downs Merrifield Limited
Notes to the Accounts
for the year ended 31 March 2024
Downs Merrifield Limited is a private company, limited by shares, registered in England and Wales, registration number 08883927. The registered office is 5 CEFN COED CRESCENT, CARDIFF, CF23 6AT, WALES.
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.
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 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.
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:
Fixtures & fittings
3 years
Computer equipment
4 years
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Downs Merrifield Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
1,499
23,264
24,763
At 31 March 2024
1,499
23,264
24,763
At 1 April 2023
593
18,876
19,469
Charge for the year
374
2,354
2,728
At 31 March 2024
967
21,230
22,197
At 31 March 2024
532
2,034
2,566
At 31 March 2023
906
4,388
5,294
Amounts falling due within one year
Trade debtors
31,409
19,034
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
5,769
2,245
Loans from directors
14,000
16,000
7
Average number of employees
During the year the average number of employees was 4 (2023: 4).