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Registration number: 05726084

The Merrymoor (Mawgan Porth) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

The Merrymoor (Mawgan Porth) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Merrymoor (Mawgan Porth) Ltd

Company Information

Directors

Mr Richard Dudley John Bennett

Mrs Lynne Bennett

Mr N J Bennett

Company secretary

Mrs Lynne Bennett

Registered office

The Merrymoor
Mawgan Porth
Newquay
TR8 4BA

Accountants

Crane & Johnston C&J Ltd
Chartered Certified Accountants
30/32 Trebarwith Crescent
Newquay
Cornwall
TR7 1DX

 

The Merrymoor (Mawgan Porth) Ltd

(Registration number: 05726084)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

242,138

244,703

Current assets

 

Stocks

5

25,704

21,014

Debtors

6

49,419

19,326

Cash at bank and in hand

 

525,169

643,225

 

600,292

683,565

Creditors: Amounts falling due within one year

7

(274,224)

(347,374)

Net current assets

 

326,068

336,191

Total assets less current liabilities

 

568,206

580,894

Creditors: Amounts falling due after more than one year

7

(14,667)

(28,267)

Provisions for liabilities

(12,672)

(9,349)

Net assets

 

540,867

543,278

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

540,767

543,178

Shareholders' funds

 

540,867

543,278

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

The Merrymoor (Mawgan Porth) Ltd

(Registration number: 05726084)
Balance Sheet as at 30 April 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 January 2025 and signed on its behalf by:
 

.........................................
Mr Richard Dudley John Bennett
Director

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Merrymoor
Mawgan Porth
Newquay
TR8 4BA

These financial statements were authorised for issue by the Board on 20 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property Improvements

2% straight line method

Plant and Machinery

15% straight line method

Vehicles

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined benefit pension obligation

Contributions to defined contribution plans are expensed in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2023 - 29).

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

262,279

285,986

22,627

570,892

Additions

-

19,007

-

19,007

At 30 April 2024

262,279

304,993

22,627

589,899

Depreciation

At 1 May 2023

66,420

237,387

22,382

326,189

Charge for the year

5,091

16,420

61

21,572

At 30 April 2024

71,511

253,807

22,443

347,761

Carrying amount

At 30 April 2024

190,768

51,186

184

242,138

At 30 April 2023

195,859

48,599

245

244,703

5

Stocks

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

5

Stocks (continued)

2024
£

2023
£

Finished goods and goods for resale

25,704

21,014

6

Debtors

Current

2024
£

2023
£

Prepayments

49,419

19,326

 

49,419

19,326

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

10,000

Trade creditors

 

72,933

68,692

Taxation and social security

 

53,485

78,733

Accruals and deferred income

 

26,513

53,662

Other creditors

 

111,293

136,287

 

274,224

347,374

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

14,667

28,267

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

 

The Merrymoor (Mawgan Porth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

9

Loans and borrowings (continued)

2024
£

2023
£

Bank borrowings

14,667

28,267

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,000

10,000

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

117,410

2,000

(26,197)

93,213

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

114,410

4,000

(1,000)

117,410