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Company No: 05242475 (England and Wales)

MERCATOR PARTNERSHIP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MERCATOR PARTNERSHIP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MERCATOR PARTNERSHIP LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
MERCATOR PARTNERSHIP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr E A S Nicholson
SECRETARY Mrs D M Nicholson
REGISTERED OFFICE 39-49 Commercial Road
Southampton
Hampshire
SO15 1GA
United Kingdom
COMPANY NUMBER 05242475 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
MERCATOR PARTNERSHIP LIMITED

BALANCE SHEET

As at 31 December 2023
MERCATOR PARTNERSHIP LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,220 3,019
2,220 3,019
Current assets
Debtors 4 29,671 73,264
Cash at bank and in hand 95,867 82,726
125,538 155,990
Creditors: amounts falling due within one year 5 ( 32,131) ( 34,405)
Net current assets 93,407 121,585
Total assets less current liabilities 95,627 124,604
Creditors: amounts falling due after more than one year 6 ( 6,275) ( 10,386)
Provision for liabilities ( 233) ( 382)
Net assets 89,119 113,836
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 88,119 112,836
Total shareholders' funds 89,119 113,836

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 financial statements of Mercator Partnership Limited (registered number: 05242475) were approved and authorised for issue by the Director on 18 September 2024. They were signed on its behalf by:

Mr E A S Nicholson
Director
MERCATOR PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MERCATOR PARTNERSHIP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mercator Partnership Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 39-49 Commercial Road, Southampton, Hampshire, SO15 1GA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration.

Services are measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services is included in Amounts recoverable on contracts in the balance sheet.

Taxation

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 corporation 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.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Classification

The company holds the following financial instruments:
- Short term trade and other debtors and creditors; and
- Cash and bank balances.

All financial instruments are classified as basic.


Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2023 23,685 23,685
Additions 748 748
Disposals ( 11,555) ( 11,555)
At 31 December 2023 12,878 12,878
Accumulated depreciation
At 01 January 2023 20,666 20,666
Charge for the financial year 740 740
Disposals ( 10,748) ( 10,748)
At 31 December 2023 10,658 10,658
Net book value
At 31 December 2023 2,220 2,220
At 31 December 2022 3,019 3,019

4. Debtors

2023 2022
£ £
Corporation tax 3,380 0
Other debtors 26,291 73,264
29,671 73,264

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 4,056 3,946
Other loans 15,000 15,000
Accruals 12,720 12,079
Corporation tax 0 3,380
Other taxation and social security 355 0
32,131 34,405

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 6,275 10,386

7. Mr E A S Nicholson

Loan charging interest at ORI, repayable on demand

2023 2022
£ £
Opening balance 18,583 12,570
Advances to director 17,205 40,879
Repayments by director (34,038) (34,866)
1,750 18,584