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Company Registration No. 06205886 (England and Wales)
Merchant Technology Limited Unaudited accounts for the year ended 29 April 2024
Merchant Technology Limited Unaudited accounts Contents
Page
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Merchant Technology Limited Company Information for the year ended 29 April 2024
Directors
Dominic Justin Brookman Jane Elizabeth Turner
Company Number
06205886 (England and Wales)
Registered Office
THE LONDON OFFICE FIRST FLOOR 85 GREAT PORTLAND STREET LONDON W1W 7LT ENGLAND
Accountants
Sleek Accounting Ltd 205 Regent Street 4th Floor London W1B 4HB
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Merchant Technology Limited Statement of financial position as at 29 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
721 
3,608 
Tangible assets
267 
1,765 
988 
5,373 
Current assets
Debtors
532,181 
42,959 
Cash at bank and in hand
20,432 
399,997 
552,613 
442,956 
Creditors: amounts falling due within one year
(357,000)
(151,440)
Net current assets
195,613 
291,516 
Total assets less current liabilities
196,601 
296,889 
Creditors: amounts falling due after more than one year
(729,385)
- 
Net (liabilities)/assets
(532,784)
296,889 
Capital and reserves
Called up share capital
2,066 
766 
Share premium
4,214,636 
4,214,636 
Profit and loss account
(4,749,486)
(3,918,513)
Shareholders' funds
(532,784)
296,889 
For the year ending 29 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by
Dominic Justin Brookman Director Company Registration No. 06205886
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Merchant Technology Limited Notes to the Accounts for the year ended 29 April 2024
1
Statutory information
Merchant Technology Limited is a private company, limited by shares, registered in England and Wales, registration number 06205886. The registered office is THE LONDON OFFICE FIRST FLOOR, 85 GREAT PORTLAND STREET, LONDON, W1W 7LT, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.3% straight line
Computer equipment
33.3% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Merchant Technology Limited Notes to the Accounts for the year ended 29 April 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 30 April 2023
13,050 
At 29 April 2024
13,050 
Amortisation
At 30 April 2023
9,442 
Charge for the year
2,887 
At 29 April 2024
12,329 
Net book value
At 29 April 2024
721 
At 29 April 2023
3,608 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 30 April 2023
521 
6,294 
6,815 
At 29 April 2024
521 
6,294 
6,815 
Depreciation
At 30 April 2023
521 
4,529 
5,050 
Charge for the year
- 
1,498 
1,498 
At 29 April 2024
521 
6,027 
6,548 
Net book value
At 29 April 2024
- 
267 
267 
At 29 April 2023
- 
1,765 
1,765 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
6,068 
39,659 
Trade debtors
73,325 
- 
Amounts due from group undertakings etc.
261,528 
- 
Accrued income and prepayments
- 
3,300 
Other debtors
191,260 
- 
532,181 
42,959 
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Merchant Technology Limited Notes to the Accounts for the year ended 29 April 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
198,950 
2,640 
Taxes and social security
23,792 
12,491 
Other creditors
(607)
1,444 
Accruals
134,865 
134,865 
357,000 
151,440 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
164,702 
- 
Other creditors
564,683 
- 
729,385 
- 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
20,662,417 Ordinary shares of £0.0001 each
2,066.24 
766.22 
Shares issued during the period:
13,000,130 Ordinary shares of £0.0001 each
1,300.01 
10
Average number of employees
During the year the average number of employees was 2 (2023: 5).
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