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REGISTERED NUMBER: 01979437 (England and Wales)


















Financial Statements for the Year Ended 31 March 2024

for

MERCURY PROPERTY CORPORATION LIMITED

MERCURY PROPERTY CORPORATION LIMITED (REGISTERED NUMBER: 01979437)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MERCURY PROPERTY CORPORATION LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R A Shane





SECRETARY: St James's Property Corporation Ltd





REGISTERED OFFICE: Unit 6
Orchard Mews
42 Orchard Road
LONDON
N6 5TR





REGISTERED NUMBER: 01979437 (England and Wales)





ACCOUNTANTS: BDA Associates Limited
Chartered Accountants
Global House
1 Ashley Avenue
Epsom
Surrey
KT18 5AD

MERCURY PROPERTY CORPORATION LIMITED (REGISTERED NUMBER: 01979437)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 197,664 197,664

CREDITORS
Amounts falling due within one year 5 334,540 334,540
NET CURRENT LIABILITIES (136,876 ) (136,876 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(136,876

)

(136,876

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (136,976 ) (136,976 )
SHAREHOLDERS' FUNDS (136,876 ) (136,876 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 28 October 2024 and were signed by:





R A Shane - Director


MERCURY PROPERTY CORPORATION LIMITED (REGISTERED NUMBER: 01979437)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mercury Property Corporation Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements - going concern
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.

Although the Company remains dormant and the balance sheet shows a deficit, the Director who is the majority shareholder of all the inter-related companies shown in debtors and creditors, is of the opinion that he will make the necessary funds available to the company for the continuation of the business on a normal basis. As a result the company has adopted the going concern basis of accounting.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Owed by related companies 197,664 197,664

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
VAT 175 175
Owed to related companies 203,647 203,647
Provision re related company 130,718 130,718
334,540 334,540

MERCURY PROPERTY CORPORATION LIMITED (REGISTERED NUMBER: 01979437)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. ULTIMATE CONTROLLING PARTY

The controlling party is R A Shane.

The ultimate controlling party is R A Shane.