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Company No: 14644717 (England and Wales)

MERCHANT PROJECTS (REDHOUSE) LIMITED

Unaudited Financial Statements
For the financial period from 07 February 2023 to 31 March 2024
Pages for filing with the registrar

MERCHANT PROJECTS (REDHOUSE) LIMITED

Unaudited Financial Statements

For the financial period from 07 February 2023 to 31 March 2024

Contents

MERCHANT PROJECTS (REDHOUSE) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
MERCHANT PROJECTS (REDHOUSE) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024
£
Current assets
Debtors 3 100
Investments 4 10,000
10,100
Creditors: amounts falling due within one year 5 ( 12,082)
Net current liabilities (1,982)
Total assets less current liabilities (1,982)
Net liabilities ( 1,982)
Capital and reserves
Called-up share capital 100
Profit and loss account ( 2,082 )
Total shareholders' deficit ( 1,982)

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Merchant Projects (Redhouse) Limited (registered number: 14644717) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M G Blake
Director

17 October 2024

MERCHANT PROJECTS (REDHOUSE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 07 February 2023 to 31 March 2024
MERCHANT PROJECTS (REDHOUSE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 07 February 2023 to 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Merchant Projects (Redhouse) 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 432 Woodbridge Road, Ipswich, IP4 4EL, 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
07.02.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Debtors

31.03.2024
£
Other debtors 100

4. Current asset investments

31.03.2024
£
Other investments – at cost less impairment 10,000

5. Creditors: amounts falling due within one year

31.03.2024
£
Amounts owed to related parties 10,882
Accruals 1,200
12,082