Registered number
11695733
MERE DEVELOPMENT GROUP LTD
Filleted Accounts
31 March 2024
MERE DEVELOPMENT GROUP LTD
Registered number: 11695733
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,541 29,339
Current assets
Stocks 64,927 104,950
Debtors 4 253,883 272,215
Cash at bank and in hand 21,387 4,799
340,197 381,964
Creditors: amounts falling due within one year 5 (123,826) (177,885)
Net current assets 216,371 204,079
Total assets less current liabilities 238,912 233,418
Creditors: amounts falling due after more than one year 6 (23,094) (23,739)
Net assets 215,818 209,679
Capital and reserves
Called up share capital 1 1
Profit and loss account 215,817 209,678
Shareholders' funds 215,818 209,679
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Wilson
Director
Approved by the board on 27 December 2024
MERE DEVELOPMENT GROUP LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 44,530
Additions 263
At 31 March 2024 44,793
Depreciation
At 1 April 2023 15,191
Charge for the year 7,061
At 31 March 2024 22,252
Net book value
At 31 March 2024 22,541
At 31 March 2023 29,339
4 Debtors 2024 2023
£ £
Trade debtors 87,148 84,010
Other debtors 166,735 188,205
253,883 272,215
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,411 17,890
Obligations under finance lease and hire purchase contracts 4,716 4,716
Trade creditors 5,165 3,862
Taxation and social security costs 108,534 92,426
Other creditors - 58,991
123,826 177,885
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 23,094 23,739
7 Other information
MERE DEVELOPMENT GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is:
651a Mauldeth Road West
Chorlton
Manchester
M21 7SA
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