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Registered number: 02789905
Mersey Design Group Limited
Financial Statements
For The Year Ended 31 July 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02789905
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,287 5,343
4,287 5,343
CURRENT ASSETS
Debtors 5 323,369 417,913
Cash at bank and in hand 233,856 292,102
557,225 710,015
Creditors: Amounts Falling Due Within One Year 6 (125,017 ) (137,755 )
NET CURRENT ASSETS (LIABILITIES) 432,208 572,260
TOTAL ASSETS LESS CURRENT LIABILITIES 436,495 577,603
NET ASSETS 436,495 577,603
CAPITAL AND RESERVES
Called up share capital 7 749 749
Capital redemption reserve 251 251
Profit and Loss Account 435,495 576,603
SHAREHOLDERS' FUNDS 436,495 577,603
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A C Crawford
Director
6th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mersey Design Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02789905 . The registered office is Cleveland House, 41 Shaw Street, Liverpool, L6 1HL. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Property improvements 20% Reducing balance basis
Fixtures & Fittings 25% Reducing balance basis
Office Equipment 25% Reducing balance basis
2.4. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2023: 8)
9 8
Page 3
Page 4
4. Tangible Assets
Land & Property
Property improvements Fixtures & Fittings Office Equipment Total
£ £ £ £
Cost
As at 1 August 2023 33,792 80,592 156,718 271,102
Additions - - 1,626 1,626
Disposals - (79,741 ) (146,749 ) (226,490 )
As at 31 July 2024 33,792 851 11,595 46,238
Depreciation
As at 1 August 2023 33,244 80,166 152,349 265,759
Provided during the period 110 99 948 1,157
Disposals - (79,545 ) (145,420 ) (224,965 )
As at 31 July 2024 33,354 720 7,877 41,951
Net Book Value
As at 31 July 2024 438 131 3,718 4,287
As at 1 August 2023 548 426 4,369 5,343
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 247,248 344,103
Amounts owed by group undertakings 62,196 62,196
Other debtors 13,925 11,614
323,369 417,913
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,455 22,523
Other creditors 25,647 22,971
Taxation and social security 79,915 92,261
125,017 137,755
Page 4
Page 5
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 749 749
Page 5