IRIS Accounts Production v24.1.4.33 07786404 director 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077864042023-01-31077864042024-01-31077864042023-02-012024-01-31077864042022-01-31077864042022-02-012023-01-31077864042023-01-3107786404ns15:EnglandWales2023-02-012024-01-3107786404ns14:PoundSterling2023-02-012024-01-3107786404ns10:Director12023-02-012024-01-3107786404ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3107786404ns10:SmallEntities2023-02-012024-01-3107786404ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3107786404ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3107786404ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3107786404ns10:FullAccounts2023-02-012024-01-3107786404ns5:CurrentFinancialInstruments2024-01-3107786404ns5:CurrentFinancialInstruments2023-01-3107786404ns5:Non-currentFinancialInstruments2024-01-3107786404ns5:Non-currentFinancialInstruments2023-01-3107786404ns5:ShareCapital2024-01-3107786404ns5:ShareCapital2023-01-3107786404ns5:RetainedEarningsAccumulatedLosses2024-01-3107786404ns5:RetainedEarningsAccumulatedLosses2023-01-3107786404ns10:RegisteredOffice2023-02-012024-01-3107786404ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3107786404ns5:PlantMachinery2023-01-3107786404ns5:FurnitureFittings2023-01-3107786404ns5:MotorVehicles2023-01-3107786404ns5:ShortLeaseholdAssetsns5:LandBuildings2023-02-012024-01-3107786404ns5:PlantMachinery2023-02-012024-01-3107786404ns5:FurnitureFittings2023-02-012024-01-3107786404ns5:MotorVehicles2023-02-012024-01-3107786404ns5:ShortLeaseholdAssetsns5:LandBuildings2024-01-3107786404ns5:PlantMachinery2024-01-3107786404ns5:FurnitureFittings2024-01-3107786404ns5:MotorVehicles2024-01-3107786404ns5:ShortLeaseholdAssetsns5:LandBuildings2023-01-3107786404ns5:PlantMachinery2023-01-3107786404ns5:FurnitureFittings2023-01-3107786404ns5:MotorVehicles2023-01-3107786404ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3107786404ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3107786404ns5:DeferredTaxation2023-02-012024-01-3107786404ns5:DeferredTaxation2024-01-31
REGISTERED NUMBER: 07786404 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MERCHANT PRIVATE FINANCE LTD

MERCHANT PRIVATE FINANCE LTD (REGISTERED NUMBER: 07786404)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


MERCHANT PRIVATE FINANCE LTD (REGISTERED NUMBER: 07786404)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 70,993 72,831

CURRENT ASSETS
Debtors 5 338,010 128,556
Cash at bank and in hand 176,643 438,832
514,653 567,388
CREDITORS
Amounts falling due within one year 6 97,146 186,211
NET CURRENT ASSETS 417,507 381,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

488,500

454,008

CREDITORS
Amounts falling due after more than one
year

7

(32,046

)

(37,047

)

PROVISIONS FOR LIABILITIES 8 (5,662 ) -
NET ASSETS 450,792 416,961

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 450,692 416,861
450,792 416,961

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

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

The director acknowledges his 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.

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 director and authorised for issue on 29 October 2024 and were signed by:





Mr R A Rejniak - Director


MERCHANT PRIVATE FINANCE LTD (REGISTERED NUMBER: 07786404)

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

1. STATUTORY INFORMATION

Merchant Private Finance Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07786404

Registered office: 11 Warwick Road
Whitstable
Kent
CT5 1HY

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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

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 statement of financial position date.


MERCHANT PRIVATE FINANCE LTD (REGISTERED NUMBER: 07786404)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
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 and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and Motor
buildings machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 35,568 2,005 31,986 13,995 83,554
Additions 12,778 - 2,870 - 15,648
Disposals - - - (13,995 ) (13,995 )
At 31 January 2024 48,346 2,005 34,856 - 85,207
DEPRECIATION
At 1 February 2023 - 593 10,130 - 10,723
Charge for year - 212 3,279 2,099 5,590
Eliminated on disposal - - - (2,099 ) (2,099 )
At 31 January 2024 - 805 13,409 - 14,214
NET BOOK VALUE
At 31 January 2024 48,346 1,200 21,447 - 70,993
At 31 January 2023 35,568 1,412 21,856 13,995 72,831

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 41,035 -
Other debtors 296,975 128,556
338,010 128,556

MERCHANT PRIVATE FINANCE LTD (REGISTERED NUMBER: 07786404)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,758 3,758
Trade creditors - 65,750
Taxation and social security 85,692 113,348
Other creditors 7,696 3,355
97,146 186,211

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 32,046 37,047

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,662 -

Deferred
tax
£   
Provided during year 5,662
Balance at 31 January 2024 5,662

9. RELATED PARTY DISCLOSURES

Included in other debtors less than one year is an amount of £277,975 (2022: £5,967 due to) due from connected companies with common directorship. The loans remain interest-free and recoverable on demand.

Also, included in other debtors less than once year is an amount of £19,000 (2022: £36,000) due from the director of the company. Interest at the rate of 2% or 2.25% was charged accordingly and the loan was repaid on 06 April 2024.