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REGISTERED NUMBER: 10164710 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

MERC AUTOCARE LTD

MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERC AUTOCARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: S Landry
L R Youlton





REGISTERED OFFICE: Unit C1a Pool Business Park
Dudnance Lane
Redruth
TR15 3QW





REGISTERED NUMBER: 10164710 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,093 45,960

CURRENT ASSETS
Stocks 5 52,579 44,423
Debtors 6 5,269 23,256
Cash at bank and in hand 96,636 103,804
154,484 171,483
CREDITORS
Amounts falling due within one year 7 157,010 131,996
NET CURRENT (LIABILITIES)/ASSETS (2,526 ) 39,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,567

85,447

CREDITORS
Amounts falling due after more than one
year

8

(37,752

)

(20,571

)

PROVISIONS FOR LIABILITIES (18,652 ) (11,490 )
NET ASSETS 34,163 53,386

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 34,063 53,286
SHAREHOLDERS' FUNDS 34,163 53,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)

BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2024 and were signed on its behalf by:




L R Youlton - Director



S Landry - Director


MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Merc Autocare Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the 10 year life of the lease
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 - 45,698 26,638
Additions 50,764 28,271 1,450
Disposals - (1,012 ) (200 )
At 31 May 2024 50,764 72,957 27,888
DEPRECIATION
At 1 June 2023 - 24,320 8,020
Charge for year 5,076 16,109 6,535
Eliminated on disposal - (1,012 ) (100 )
At 31 May 2024 5,076 39,417 14,455
NET BOOK VALUE
At 31 May 2024 45,688 33,540 13,433
At 31 May 2023 - 21,378 18,618

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 19,495 3,126 94,957
Additions - - 80,485
Disposals - (221 ) (1,433 )
At 31 May 2024 19,495 2,905 174,009
DEPRECIATION
At 1 June 2023 14,246 2,411 48,997
Charge for year 4,874 658 33,252
Eliminated on disposal - (221 ) (1,333 )
At 31 May 2024 19,120 2,848 80,916
NET BOOK VALUE
At 31 May 2024 375 57 93,093
At 31 May 2023 5,249 715 45,960

MERC AUTOCARE LTD (REGISTERED NUMBER: 10164710)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. STOCKS
31/5/24 31/5/23
£    £   
Stocks 52,579 44,423

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 4,746 22,657
Other debtors 24 -
Prepayments 499 599
5,269 23,256

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Other loans 20,829 10,000
Trade creditors 52,778 31,437
Tax 2,778 12,141
Social security and other taxes 2,625 1,640
VAT 17,198 16,611
Other creditors 702 493
Directors' current accounts 58,225 58,034
Accrued expenses 1,875 1,640
157,010 131,996

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Other loans - 1-2 years 21,959 10,000
Other loans - 2-5 years 15,793 10,571
37,752 20,571

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/5/24 31/5/23
£    £   
Within one year 31,000 12,000
Between one and five years 87,000 28,000
In more than five years 58,583 -
176,583 40,000