REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD (REGISTERED NUMBER: SC697206) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD |
COMPANY INFORMATION |
for the year ended 30 April 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Business Advisors, Accountants and |
Statutory Auditors |
Q Court |
3 Quality Street |
Edinburgh |
EH4 5BP |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD (REGISTERED NUMBER: SC697206) |
BALANCE SHEET |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD (REGISTERED NUMBER: SC697206) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Merlin Simple Payment Solutions Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The company was incorporated on 28 April 2021. |
During the year the company made a loss of £103,965 (2022: £170,659) and at the year end had net liabilities of £274,623 (2022: £170.658). |
The company relies on the support of group companies and the directors have received written confirmation that they are willing to continue to financially support Merlin Simple Payment Solutions Limited for a period of at least 12 months from the approval of the financial statements. |
Therefore, as there is a reasonable expectation that the company has adequate resources available to it to continue in operational existence for the foreseeable future, the directors have concluded this does not represent a material uncertainty with regards to going concern. |
Thus, the financial statements have been prepared on a going concern basis which presumes the retaliations of assets and liabilities in the normal course of business. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
MERLIN SIMPLE PAYMENT SOLUTIONS LTD (REGISTERED NUMBER: SC697206) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 April 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
VAT |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
8. | ULTIMATE CONTROLLING PARTY |
The parent undertaking of the largest and smallest group for which consolidated financial statements are prepared is Merlin Vet Export Limited. Consolidated financial statements for Merlin Vet Export Limited are available from Companies House, 139 Fountainbridge, Edinburgh, EH3 9FF. |
The ultimate controlling party of Merlin Vet Export Limited is D W Taylor, BVM&S, MRCVS. |