Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30true2022-12-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11330296 2022-12-01 2023-11-30 11330296 2021-12-01 2022-11-30 11330296 2023-11-30 11330296 2022-11-30 11330296 c:Director1 2022-12-01 2023-11-30 11330296 d:OfficeEquipment 2022-12-01 2023-11-30 11330296 d:OfficeEquipment 2023-11-30 11330296 d:OfficeEquipment 2022-11-30 11330296 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11330296 d:FreeholdInvestmentProperty 2023-11-30 11330296 d:FreeholdInvestmentProperty 3 2022-12-01 2023-11-30 11330296 d:CurrentFinancialInstruments 2023-11-30 11330296 d:CurrentFinancialInstruments 2022-11-30 11330296 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11330296 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11330296 d:ShareCapital 2023-11-30 11330296 d:ShareCapital 2022-11-30 11330296 d:RetainedEarningsAccumulatedLosses 2023-11-30 11330296 d:RetainedEarningsAccumulatedLosses 2022-11-30 11330296 c:FRS102 2022-12-01 2023-11-30 11330296 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11330296 c:FullAccounts 2022-12-01 2023-11-30 11330296 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11330296 6 2022-12-01 2023-11-30 11330296 d:OtherDeferredTax 2023-11-30 11330296 d:OtherDeferredTax 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 11330296










MERCIA REAL ESTATE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MERCIA REAL ESTATE LTD
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
MERCIA REAL ESTATE LTD
REGISTERED NUMBER: 11330296

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
56
2,473

Investments
 5 
446
245

Investment property
 6 
1,300,000
-

  
1,300,502
2,718

Current assets
  

Stocks
  
-
1,326,220

Debtors
 7 
23,052
521,850

Cash at bank and in hand
  
6,623
9,807

  
29,675
1,857,877

Creditors: amounts falling due within one year
 8 
(1,458,098)
(1,654,612)

Net current (liabilities)/assets
  
 
 
(1,428,423)
 
 
203,265

Total assets less current liabilities
  
(127,921)
205,983

Provisions for liabilities
  

Deferred tax
 9 
-
(470)

  
 
 
-
 
 
(470)

Net (liabilities)/assets
  
(127,921)
205,513


Capital and reserves
  

Called up share capital 
  
12,500
12,500

Profit and loss account
  
(140,421)
193,013

  
(127,921)
205,513


Page 1

 
MERCIA REAL ESTATE LTD
REGISTERED NUMBER: 11330296
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2024.




S T Clark
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Mercia Real Estate Ltd (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is Maddox House, 117 Edmund Street, Birmingham, West Midlands, England, B3 2HJ, which is also the address of its principal place of business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company is the parent undertaking of a small group and as such, is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is dependent upon its directors. The directors have indicated that they will continue to provide the financial support necessary to enable the company to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by director's valuation and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.11

Stocks

Work in progress is stated at the lower of cost and net realisable value.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 5

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 December 2022
13,161



At 30 November 2023

13,161



Depreciation


At 1 December 2022
10,688


Charge for the year on owned assets
2,417



At 30 November 2023

13,105



Net book value



At 30 November 2023
56



At 30 November 2022
2,473


5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost


At 1 December 2022
200
45
245


Additions
201
-
201



At 30 November 2023
401
45
446




Page 6

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Investment property


Freehold investment property

£



Valuation


Transfer from stock and WIP
1,300,000



At 30 November 2023
1,300,000







7.


Debtors

2023
2022
£
£


Trade debtors
-
4,500

Amounts owed by group undertakings
-
462,730

Other debtors
6,729
17,667

Called up share capital not paid
12,500
12,500

Prepayments and accrued income
3,823
24,453

23,052
521,850



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,494
47,405

Amounts owed to group undertakings
1,088,114
589,389

Amounts owed to related parties
21,554
421,554

Corporation tax
-
16,871

Other taxation and social security
5
-

Other creditors
329,432
574,993

Accruals and deferred income
6,499
4,400

1,458,098
1,654,612


Page 7

 
MERCIA REAL ESTATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(470)


Utilised in year
470



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Deferred tax
-
(470)

 
Page 8